Launching your first crowdfunding campaign can be a little intimidating. Some campaigns are really successful and other campaigns do not pick up momentum. The good news is that we have some easy tips to help ensure your campaign is successful.
1. Use Visual Content
Studies have found that the key to engaging content is using pictures, videos and infographics. Creating social media content that helps build awareness for your campaign is vital to having a successful crowdfunding campaign. According to Indigogo, a crowdfunding website, campaigns that contain a video raise 4% more money compared to campaigns without a video. It is important to keep your videos under three minutes and use the golden circle rule when making your video script: why, how, what.
Prior to launching crowdfunding campaigns, Fleece & Thank You uses
Canva to create call to action posts that are targeted towards each of our audiences. For example, in our campaign for Make a Blanket Day we have posts targeted towards families and posts targeted towards companies.
2. Create Teams
Make sure to use a crowdfunding platform that allows people to compete. Indigogo found that campaigns with teams raised three times the amount of money compared to campaigns ran by individuals. Prior to launching your campaign, it is helpful to find individuals who are passionate about your cause. Have them commit to starting a team, setting a personal goal and recruiting their friends to help them reach their goal. Once your crowdfunding campaign is launched your teams can start competing to see who raises the most money. You can also provide incentives for the team that raises the most money. When thinking about incentives ask yourself “would I start a team if I could win (blank)?”
3. Set a Goal
You want your goal to be something that you and your team can reach. After all, people want to support a cause that they believe will succeed. Indigogo has seen campaigns be successful when they set low goals. For example, if your goal is to raise $10,000 set your goal to $8,000 with a reach goal of $10,000. A reach goal is the extra funding you push for after you have reached your goal.
4. Campaign Updates
Whether you are surpassing your goals or falling far behind it is important to keep your donors updated and involved. Emailing updates to your donors keeps them engaged in your cause. It is important to assess what your current needs are in your campaign and ask your donors to help you continue reaching your goal.
5. Stay Connected
Donors do not want a simple thank you letter. They want to feel connected to your cause. Mallory Brown, runs 24 hours campaigns through Crowdrise and has done an exceptional job of retaining donors. She has found that sending thank you videos of her work has helped donors relate to her missions. They know when they donate to her crowdfunding campaigns they will see who their donation helped.