Only 5 years ago, crowdfunding was just emerging as a major revenue source for entrepreneurs needing money to bring their ideas to life. Today, crowdfunding is a common household word. There is a good chance you don’t get through a week, if not day, without hearing about a crowdfunding campaign in the news. GoFundMe is now commonly used to raise funds for people in need due to life circumstances beyond their control. With so many crowdfunding campaigns garnering media attention, it might give you the impression that crowdfunding is easy. Unfortunately, that is not the case. A successful crowdfunding campaign takes time, effort and thought. Below are some tips to help you design a successful crowdfunding campaign.
- Do Your Research. First, not all crowdfunding sites are the same, and therefore it’s in your best interest to research several of them and understand the fine print of each prior to deciding which one you will use. Second, whatever you are raising money for, check for other campaigns that are similar. Note if those campaigns were successful or unsuccessful and what differentiated the two.
- Be Realistic. When setting a funding goal, always go with the bare minimum that you need for your project, rather than what you might want. All crowdfunding platforms allow you raise more than your minimum goal. However, some have a policy that you will not receive any funds raised unless you meet your minimum goal.
- Be eye-catching and informative. Design your crowdfunding page in a way that will set it apart visually from others. Start with an attention-grabbing title at the top of the page. From there, make sure you are extremely detailed regarding your project and exactly how you plan to spend the money you are raising. People will be more likely to donate if they understand how their money will be used.
