Most crowdfunding advice going to tell you to limit the amount of fundraising that you plan to do on any given campaign. This is because the statistics on every crowdfunding site shows that if you keep fundraising goals under $10k, you’ll be more likely to find success. You could set your standards low and settle for some moderate success… or you could use these methods to help you raise six figures or more on your next crowdfunding campaign.
If a nightlight company can raise $101,000, then any idea has the chance to raise a lot of money with a good idea.
Show Why Your Idea is the Best One Available
Showing how your prototypes are used in practical settings is a good first step. People have seen enough images to parents tucked their children into bed to feel comforted about a product to become immune from it. Crowdfunding is all about understanding why your product is the best product around right now. If you can communicate those differences effectively, then you will have created the foundation for six-figure success.
Answer Questions As Quickly As Possible
When Snap Power was designing their own Kickstarter campaign, they started receiving a lot of questions about the products. Instead of ignoring these questions, they turn them into an incredibly effective FAQ page. They realized that the questions they were being asked would be the same questions that backers would ask them when their crowdfunding campaign was live. By taking care of customer needs first, they were able to generate more overall support.
Avoid the Fundraising Lull by Meeting Your Goals Early
Most crowdfunding campaigns will either make it or fail within the first 48 hours of their existence. It is important to chart out all 48 hours at the start before you go live so that a clear plan of action is known by everyone involved. How are you going to share your campaign on social media? Which people are you going to get involved in telling the story of your product? Who is going to be responsible for answering backer questions that aren’t covered by the FAQ page? Answer these questions now and you’ll have a better chance of enjoying six figures later.
Know About Your Average Backer Right Now
Instead of just guessing at what the average investment price point is going to be, take some time before your launch to get to know your average backer. Look at other campaigns that are similar to yours and see where their most popular investment points happen to be. Compare that to the prices of your products and then setup reasonable rewards that will target the average price points that you are seeing. When backers are comfortable with a price point, they are more willing to pledge funding to you – even if you fall outside of their regular comfort zone.
Six figures or more is very possible on Kickstarter today. If you follow these tips, you will give yourself the greatest chance for future success.
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