What is it and how does it work?
Crowdfunding is a growing option for creatives seeking to raise funds for projects. But, what is it exactly and how does it work?
“A lot of people make the mistake of creating a campaign and throwing it out to the world thinking they are going to raise a lot of money,” shared Valecia Hopper, with Fifth-Letter advertising agency.
So, how do you put together a successful crowdfunding campaign? Join Valecia at the Swerve meetup on Thursday, August 17 to learn more. Valecia is one of the key individuals who developed the strategic plan for Providence Restaurant’s crowdfunding campaign, which exceeded its goal of $30,000. The program starts at 11:30 a.m., ends at 1 p.m. and is taking place at the Center for Design and Innovation, located at 450 Design Avenue, Winston-Salem. Lunch is included and FREE for Swerve members and $20 for non-members; registration is required.
What are the key components of a successful crowdfunding campaign?
First, you have to have a message with clear goals to share. Who are you? What are you doing? Why are you doing it? When are you doing it? What are your obstacles and how will you get around them? Why does it matter for you to do what you’re doing? How will you use the money?
“These are all questions that should be answered in your messaging in a way that your audience will understand. Beautiful photography and powerful video are great tools to convey your message,” said Valecia.
Once you have defined your messaging you need to think through how you will create awareness of your project or business. “The awareness campaign should start six months prior to launching your crowdfunding campaign. You really need to create a buzz. Go to events and tell people what you’re trying to get off the ground. Generate a database of contacts you can share information with on a regular basis. Use social media, collateral materials, behind-the-scene videos and other useful marketing tools to share your message. Ask friends and family to spread the word. If people are informed about what you are doing and if they believe in you and your project, when you do launch your crowdfunding campaign, you’ll have greater success,” said Valecia.
So now that you’ve created awareness of who you are and what you’re doing, what next? It’s time to move forward with your crowdfunding campaign. You’ll want to think through your reward options, the amount you’re needing to raise and the crowdfunding platform that is best for you.
“Make sure you research crowdfunding websites to see who is being featured and what industry they are in. See who has reached their funding goal. If you see a lot of companies/projects similar to yours on a particular crowdfunding site, then that platform may be a strong option for you,” said Valecia.
To create an urgency, Valecia recommends campaigns that last thirty-days and strongly encourages ongoing engagement and promotion throughout the campaign.
Join us at Swerve
For more detailed helpful tips on crowdfunding strategies that work, join us for the Swerve meetup.
“Crowdfunding Strategies that Work”
Time: 11:30 AM – 1 PM
Location: Center for Design Innovation, 450 Design Ave, Wintson-Salem, NC 27101
Price: Free to Swerve members, $20 to non-members
Lunch is included!
Not a Swerve member yet? Click here for more information on how to join!