Get insights how to setup your crowdfunding campaign to reach your goals. Valuable tips from somebody who definately knows this business very well: Danae Ringelmann co-founded Indiegogo to democratize fundraising. She brings entertainment industry and finance expertise, and serves as an Advisor to The Conversation.
The 3 keys to success
1. Great Pitch
- You have to tell a compelling story. Tell the story behind the story. Not just what the project is, but who you and your team are. And also why this project should happen.
Honesty, Transparency & Authenticity
- Personal video: Campaigns with a video raise 114% more. People want to look in your eyes and see that you are real.
- Clear Funding Target and Use of Funds
- Clear Deadline: Recommend: < 40 Days, Campaings less than 40 days are more successful than 40+ days campaigns.
- Have unique and exiting perks: Things people cannot buy at the “grocery store”, limited in availibility. $25 is most popular perk price. 70% of campaigns reach goal with 3-8 perks.
2. Being Proactive
- Prepare: Plan to raise the first 30% from people you know. You need people who put the first money in to generate a viral effect.
- Use updates: Update every 1-4 days doubles your funding
- Earn High Gogofactor: Take 6 actions: Have a pitch video, offer three or more perks, update every few days, post media to you gallery, link to your other pages, campaign less than two month
3. Audience that Cares
- Great Pitch and Being Proactive alone will not result in a successful camgaign. You need an audience who supports you. Think about your idea twice, is there a need, market? If the campaign is not successful may be the need was not strong enough.Iit can help you redefining the idea.