How to Run a Successful Crowdfunding Campaign

Crowdfunding is considered to be a very effective way to launch startup businesses without a lot of capital investment.  Rather than buying the up fronts of inventory, the entrepreneurs are enabled by successful Crowdfunding campaign for judging their product demands. The Crowdfunding sites also help the businessmen to fund their initial production runs. There are some entrepreneurs who do not have money for funding their production run in the beginning when they launch their startups. Such entrepreneurs become successful by the support of people when they pre-order any of the products available. This money, being earned by the pre-orders, is used for funding the production run in the early stages of the business. There are some tips that should be kept in mind for running a successful crowdfunding campaign on fundraising websites; some of them have been mentioned below.

5 Secrets to Run Successful Crowdfunding Campaign

1). Developing a Story

Basically, Crowdfunding is something that is entirely related to stories. It is different from the typical websites that always focus on the products to be sold; the users of different Crowdfunding sites are interested to know the stories of people for converting their ideas into reality.  It is very important to explain the reason that why is there a need for getting support from different people on the sites over there.

Related: 5 Best Crowdfunding Websites of 2016

2). Creating a video and media page

Creating some video clips can give a better idea to the visitors for your project in a successful Crowdfunding campaign, since they can see the details of your product in a more realistic way. The video must be quite suitable for the product to be launched and must be developed in a professional way. If your video looks immature, it does not convince any of the visitors and it can inn fact damage the credibility of your Crowdfunding campaign.

There is always a need for a website, as well as some press materials which can be downloaded by the journalists. Even if you are working individually and you do not have any team, you cannot just depend on the Facebook page of your project. If enough information about your product is not found by the journalists, they will surely prefer to start promoting some other project that they think is better than yours, so yeah.

3). Not asking for money

You should not take a start while asking for money from the people. In fact, you must present your story in such a way that people become ready to support your project to make it successful. You should make them sure that you will pay them back for supporting you and they will surely get something in return as a result of their investment.

Read Also: 8 Ways to Small Business Financing

4). Building interest in your project

Your interest in your project and the product to be launched is reflected clearly from your story, video and other such stuff. The more you show interest in your Crowdfunding campaign, the more you will get support of the people. You must also communicate with the people more often so that they might know that you are active and serious to do something with your project.

5). Submitting the campaign

The different Crowdfunding sites have their own rules for accepting or denying a particular campaign. All of the projects are not supposed to be accepted readily. Moreover, it takes a few days to complete the process of approval. Sometimes, they also require some of the changes to be made in your proposed project. Your campaign must be submitted to the website two weeks before launching your product.

You May Like To Read: 10 Most Profitable Small Businesses 2016

A successful Crowdfunding campaign is considered to be a perfect way for bringing your newly launched product to the market. Through it, you also become able for judging the demands of the people for your product and for getting enough funds for your initial production run. There is no guarantee about the Crowdfunding success; however, by going through the above mentioned strategies and following them, the chances of your success can be maximized.

About the author

Sana Tanveer is a tech major and regular contributor at Fincyte. In spare time, she often writes on tech news and trends.

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Comments

  • Alina Ahmed April 18, 2016 at 6:10 pm

    Very nice.

    Reply
  • Adil Zaman May 4, 2016 at 10:59 am

    Good work Sana!

    Reply