Crowd Funding a popular funding strategy
Crowd funding is persuading individuals to donate or invest in your venture. Mostly these types of ventures are social ventures which create impact on large number of people.
Crowdfunding is one of the highly popular and rewarding funding methods with brand building and getting additional customer segment.
“Crowdfunding is built around relationships”. Human touch should be more important in crowd funding campaign.
Reward-based crowd founding is a very good idea.Many social venture has successfully created markets for genuine players.
To make your campaign successful you need to have
1.An intriguing, clear story. One reason that people give you money is that your story touches people, so you need to be able to express very clearly what you are trying to do and why it is significant.
2.An existing strong network. The process of crowdfunding depends on trust and reputation, so you’ll need a core inner group to vouch for you and help spread the word.
3.Cool reward –In exchange for their money, you’ll need to offer investors a reward that attracts them to invest. A multi-level reward can also help.
Social media, digital marketing, etc. will help you not only to raise funds but also to build a strong brand.
Following are the strategic steps which can make your crowd funding campaign successful
- 1. Strategic Social Media campaign
- 2. Produce a Great Video to attract audience
- 3. Create responsive social media pages
- 4. Build trust then ask for investment
- 5. Communicate often to build trust
- 6. Keep your campaign personal
There’s no way of guaranteeing crowdfunding success, but by studying the successful campaign and strategies, that have worked for others, you can certainly maximize your chances. Like any other business venture, crowdfunding is a long term process that start long before the doors are opened, and long after the campaign has closed.
Regularly check your startup fund-ability and continuously improve to become more investor ready. Free download checklist
For more detail on crowd funding you can write firstname.lastname@example.org