Launching your crowdfunding project is a big deal and can be a daunting experience, especially if you’ve never raised funds through crowdfunding before. To help you on your way, we asked Crowdfunder UK’s Senior Crowdfunding Coach, Bertie, for his insight on how to launch a new project.
I am a firm believer that the strength of a good campaign is all in the preparation.
To convince others to take notice of your crowdfunding project, it’s very important to have some money on your project before you send it out to everyone. This will help to create a strong impression of success, convincing others to get involved.
There are a few different ways to set yourself up for success, and here are my three favourites.
1. Creating a launch event
Depending on your project type, a launch event can be an excellent way to not only celebrate the launch of your project but to also get some early supporters involved from day one.
The scale of this event is completely up to you but it is a fantastic way to secure initial donations and get people excited and involved in what you are trying to achieve.
Adria who used to Crowdfunder to fundraise in the UK for his brewery told me that inviting everyone to the brewery for the launch was the best thing he could have done for his campaign! Everyone got a free beer on arrival and a second one from the bar once they had made a donation.
A launch is also a great time to have some fun and tell people all about what you’re crowdfunding for. Getting people involved early on will make them feel part of the experience and more likely to share your crowdfunding page with their network.
2. Soft launch
We always recommend that you lock down between 10-20% of your target prior to going live. That way you know exactly where the money is going to come from and you can guarantee enough activity on your page on day one to create a positive impression.
One of the ways you can do this is by targeting your core audience first, before going out to your wider network. By switching your project to go live and calling those who are most likely to pledge, you’ll be able to get some numbers on the page before you make the crowdfunding campaign more public. By the time people start to visit the page from outside your network, they’ll be able to see that there is a healthy percentage of funds raised and will therefore feel more comfortable donating themselves.
3. Starting with a bang
In the month up to your launch date, you’ll be mapping out all of the potential groups of supporters who might share an interest in your crowdfunding campaign.
One of the key parts of this process is to make a clear list of those individuals or businesses who might be able to donate a larger figure to your crowdfunding campaign. If you can start these conversations early and line up the pledges to appear on your launch date, then you can start with a bang.
In tandem to locking down these larger chunks of funding, you can also queue up some key influencers and press to announce the launch of your campaign and amplify the buzz further.