Last Thursday, we discussed why you should consider crowdfunding as your first fundraising activity. Today, we will discuss how you should plan your campaign. Here is a six-step process: Bucketing your crowdfunders There are two kinds of folks in your network — one who would love to fund you and the other who will fund your cause. The first category of folks could be your closest of friends, ex-bosses or your relatives, while the second would be acquaintances or even unknown people who are true fans of the product you are about to launch.
Deciding your rewards The first category of folks mentioned in step 1 are going to fund for you. They don’t necessarily crave for the rewards. But the trick to getting your second category funders donate to you is by getting them excited about a reward. It could be some pre-order discounts or other unique gifts. Plan your rewards according to the preference of your second category of folks. Plan a massive social media outreach The more the merrier, right? Before you plan crowdfunding, decide on how to reach the maximum audience on social media.
What if all your friends were to post on the exact date at the exact time about your crowdfunding campaign using a hashtag on your start-up? Cool no? If you can get a huge crowd to post, your campaign might go trending as well. Search for Thunderclap campaign. Their webpage can help you accomplish this for free. Raise 30 per cent funds on your first two days of c a m - paign F o r example, let’s say your target is to raise Rs one lakh. Plan on how to reach people who are more likely to donate you Rs 30,000 for your campaign. If you get a good thrust initially, you are more likely to sustain a good campaign. Email marketing is the key Make a list of folks who are most likely to crowdfund your campaign.
Do not forget to email them personally informing them about your campaign on the start date. Emails are still the most effective professional tool to get your crowdfunders notice you. Keep the momentum going! Crowdfunding campaign is all about getting finance and raising brand awareness. This is a good opportunity for you to showcase your funders, your rewards and your startup initiatives. For a good momentum, do use your social media and emails to send out a message at least once a week. During the campaign, keep updating your funders on the progress of your product. Happy crowdfunding! For any queries, do write to me on Rajeev@TBSPlanet.com