Have you been sitting on a crowdfunding project idea for a while now? These 10 steps will help you to successfully launch it.
Step 1: Understand the principle of crowdfunding
With Crowdify’s “reward-based crowdfunding”, you decide on the target amount, your crowdfunding’s duration (3 to 50 days) and the goodies you’ll use to reward your boosters. Boosters can also choose to support you without receiving any goodies.
Most crowdfunding platforms use an all or nothing approach. If you reach or exceed the target amount, the money is paid out; if you don’t, the money is returned to the boosters. If you are unsuccessful, you don’t have anything to pay. If you are successful, most platforms charge a commission of around 10%, which also includes any credit card fees.
Generally, project initiators get money from 3 different sources: from family, friends and acquaintances (the crowd), from distant acquaintances and acquaintances of acquaintances (network) and from...
1. NOT SUFFICIENTLY REFLECTING ON IDEAS IN ADVANCE 💡 Every successful crowdfunding project’s driving force is a good idea. That’s why it’s important to reflect on it critically within your network early on. Is your idea really as good as you think it is? Is my idea a potential crowdfunding project? Is there demand and support for my plan? Are the goodies appealing? Does the video make sense? When it comes to crowdfunding, it’s essential that you get your closest circle involved: They are your first supporters, whether through contributions or by sharing and promoting your project. If you can’t convince those closest to you that your idea is a good one, you might need to go back to the drawing board.
2. (TOO LITTLE) PREPARATION ⏱️ “A goal without a plan is just a wish”. Good preparation is indispensable for all crowdfunding projects (including their subsequent implementation). Allow yourself enough time! We recommend at least 2 months of preparation, plus an hour...
Goodies are an important part of all crowdfunding projects. However, social projects represent a “special” case. We’ll show you how to choose the right goodies for your social project and how to use creative ideas to get boosters to support your crowdfunding. The “special” case of social projects With social projects, your goodies don’t need to have the usual nominal value. In general, the main aim of crowdfunding is to raise as much money as possible to make the project a reality. However, goodies are often decisive in whether your project is supported and how much is donated. Goody numbers and prices Even if a lot of boosters would still support a social project without goodies in return, we still recommend that you offer at least 4 to 6 goodies for a range of budgets. It’s a nice gesture and it gives boosters an idea of how far their donation amount will go. They can also choose how much they want to donate if you show them how much can be done with their donation....
