Tips for a Successful backHer Crowdfunding Project
Successful projects begin with thorough planning. Here are some tips to help you build and manage a campaign geared for success! Be sure to review these tips before you launch your campaign.
Top 3 Tips for Creating and Managing a Successful Campaign
Okay, promotion is only one tip. But it is SO important we want to emphasize it. Promotion is vital to crowdfunding success. Refer to the Project Promotion section for details.
Determine Your Funding Goal
Successful Project Creators often set their funding goal as the minimum amount needed to finish the project and fulfill any perks.
Project Creators with a sizeable financial goal but without a dedicated network or fan base should consider separating the project into separate, smaller projects. This is a great way to build your fan base and strengthen your network. People will start to root for you as the various mini projects within the whole project are completed.
Raise a Portion of the Funding Goal Before Project Launch
Research shows that successful campaigns often raise almost 1/3 of their funding goal amount from the people in their inner circle in the first few days of the campaign.
Before you launch your project, try to get as many pledge commitments from your family, close friends, super-dedicated fans, and others in your circle. These are the people you can easily call, see in person, or send a personal email and ask for a pledge.
Getting pledges before you launch allows you to show progress quickly towards your goal. This builds confidence in the project and can make acquaintances and strangers more likely to join the crowd and fund you too.
Say you want to raise $6,000. If you get those close to you to commit to $1,800-$2,000 in the beginning; it will make your chances of getting the other $4,000 (and more) much more likely.
Develop a Dynamite Project Page
Provide a mix of visuals and text to make your pitch more interesting and engaging. Insert images, videos, and other content in your story, using the Editor Box on the Specifics Page of the Create a Project Template Guide.
Your video and your story are your opportunities to share your project with the world; and show potential backHers that you have a good plan and the desire to carry it out!
Be sure to include the following:
- Introduce Yourself . Let everyone know who you are and introduce any teammates. If you’ve related past work, remember to highlight it.
- Project Status . If the project is underway, let them know where you are and provide a timeline for development and completion.
- Project Budget . Include a breakdown of the funding needs. By breaking it down and providing detail you will gain people’s trust and confidence.
- Share Your Passion . This is the place to strut your stuff! Have fun and share your passion for your project with the world!
The Importance of a Project Video
Projects with videos are much more successful than those without videos.
You don’t have to be a video professional or spend a pile of cash to make a suitable video. You can even make one on your smart phone. Just make sure the sound is good and the picture is stable, unless you need a shaky image for artistic reasons.
Use these tips to develop an appealing project video:
- Keep the video pitch short and to the point.
- Make sure the Project Creator appears in the video (even if you’re a brief introduction). This is a good way to establish a personal connection with your potential backHers.
- Be clear exactly what your project is about.
- Make it enticing so that people will want to be involved.
- Music can enhance your video. Be sure you have the rights to everything in your video.
If you need extra help in learning how to make a video, just surf the net. There are many free video and editing resources available.
Perks Are Important
Many successful crowdfunding projects offer perks. Successful projects often incorporate a variety of perks at differing price points. Some include one or two at a low price point, sometimes even a $1 Thank You perk!
Perks get people connected and interested even if they can’t or don’t want to invest more money at this time.
People sponsor your project because they like you, they like your project, or they may want the perks that you offer.
Here are some popular perk ideas:
- Finished product like a CD/DVD
- Thank you included in the credits
- Invitation to the launch party
- Autographed edition
- Night at the pub with you and your crew
The possibilities are endless! Think about what perk you would want if you were a backHer. Look at other successful projects to see what perks were offered.
Put thought into pricing perks. Factor in the cost of production, mailing, and any other costs associated with each perk, as well as fees, so that you don’t eat into your project budget.
Perks Are an Obligation. You have an obligation to fulfill all your perks. If you are running late on your delivery date, let your backHers know. People are generally much more forgiving when you communicate with them.
If you are unable to fulfill your perks, it is your responsibility to communicate with your backHers. Often it is possible to work out a solution. If not, you are responsible for refunding any contributions.
As we said up front, promotion is possibly the most important factor in the success of your project.
The reality of crowdfunding is that you need to drive a “crowd” to your project.
Some people think that using a particular crowdfunding site drives traffic to your project. The reality is most traffic visiting a project comes through the efforts of the project creator’s self promotion.
Unless you are a celebrity or have a large network of fans in place; your friends, family, and colleagues are an important part of your promotion plan. These are usually your first supporters. In addition to giving your project its funding start, they are the people who will start to spread the word about your campaign.
Project Calendar . It is important to create a promotional plan/calendar for your campaign prior to launching. Your plan should include as much of the following as possible:
- Email to notify friends, family, and colleagues about your project launch
- Regular social media outreach
- Regular project updates
- Contact bloggers and others who write about project-related issues. They may want to do a story on you
- Host a launch party/mid-way party/almost there party! A small event is a fun way to get people you know engaged in your project. It’s also a great way to reach people who are not tech savvy but still want to contribute to your campaign.
- Press releases and other marketing
Be Social . backHer has easy-to-use social networking tools on your Project Page. You and your team can use these to promote your project on your social networks. The most successful Project Creators make updates on a regular basis throughout the campaign.
Keep Up-To-Date . Use the Update Section of your Project Page to post positive and engaging updates. Let people know the progress of your campaign. This can include:
- Thanking a batch of new backHers
- Progress reports
- Links to press about the project
- Newly added perks
Once you launch your project there may be a good amount of interest at first, followed by a lull. This is common, and even happens to the most successful projects. Don’t get discouraged; just keep promoting your project. Often, visitors pick up again toward the middle to end of the project deadline.
Promoting your campaign can be fun once you get the hang of it and see people take an interest.
Finalizing Your Campaign
Wrapping up is an important part of managing your campaign. This is a great opportunity to show appreciation to your backHers and strengthen your network
Once a campaign reaches the Completion Date, it is time to thank everyone for their support and to organize your perk fulfillment effort. You can make an update thanking everyone on your project page, and/or send out individual emails or a group email from the dashboard on your project page.
Your perk fulfillment information is also on your dashboard. It includes a list of your backHers, their contact information, and the perks ordered.
Use the Perk Status column to indicate if a perk has been sent and to keep any notes you need.
Remember, money is not all you are raising on backHer. You are also building your network. Don’t overlook this very important aspect of crowdfunidng, The larger your network, the more supporters, customers, fans, and friends you will have, which is vital to most successful endeavors today.