Tips

1.    Tell your story

Tell potential backers why your campaign should be funded. Backers support ideas they fervently believe in and people they think they can rely on. Develop trust by introducing yourself and your background, and describing your project and why it’s important to you. Get your backers passionate by explaining what you hope to achieve, and what the potential benefits are.

2.    Create a pitch video

If possible, create a pitch video to sell your idea. Keep it short (about four minutes is the ideal) and personal. The video should not just be about facts and figures. You have to be able to sell yourself. If backers cannot relate to you as a person they won’t trust you, and they’ll only fund you if you can create trust. So ESPECIALLY in the first few minutes, be personal and let the backers see who you really are.

3.    Utilize Social Media

This is the surest way to drum up support for your campaign, even if you end up irritating some of your friends with your constant shout-outs and shares about your project. You need the big three social media sites in your campaign: Facebook, Twitter and Google Plus. Twitter is arguably the crowdfunder’s most powerful tool: you have the potential to reach thousands of people with a single Tweet, once you have the right combination of hashtags. Many people post only their Facebook information on this site. Ensure that you also post your Twitter info, so that backers can Tweet and retweet, giving you even more exposure for your campaign.

4.    Don’t set your funding tiers too high

Crowdfunding is designed to get a crowd of people to support your idea using the micro-finance model. Some entrepreneurs’ set up crowdfunding tiers starting at $100 and $500 in the belief that this will attract funding more quickly. In reality most backers pledge small amounts like $10 and even $5. It’s more likely that you’ll get ten people pledging $50 each than one person pledging $500.

5.    Create bite-sized projects

This is especially true for campaigns run on the fixed funding model, where you don’t get a penny unless you meet your full target for amount raised. Set a practical, achievable goal. Divide one big project into chapters if needed, and stagger them into individual launches where possible. Bite-sized campaigns are perfect, since after you pitch you only have a limited time to raise the funds needed for your project.

6.    Be transparent

It’s natural for your backers to be curious about your project. You should therefore be totally transparent and ensure you share all the details you can without divulging the information that forms the heart of your project, or anything else that’s confidential.

7.    Update your campaign constantly

You won’t get all the funding you need if you just tell your story and leave the scene. This can ruin your entire campaign. Never leave your fans and followers hanging. Add new updates to your page several times during the campaign, and make your followers want more. Change your video several times, and don’t forget to update your social media profiles as well!