Every year, online crowdfunding campaigns generate billions of dollars that fund all kinds of needs and projects. Despite the overall success of the concept, however, less than 25% of campaigns actually meet their fundraising goals. In most cases, failed campaigns do not reach a wide enough audience or engage their audience emotionally. The following are some tips for connecting with the right audience and completing a successful crowdfunding campaign.
Choose The Right Platform
Before you choose a crowdfunding platform, read more about how crowdfunding works, and then consider a couple of factors. First of all, make sure that the platform is a good fit for your campaign. For example, some sites cater more to artists and musicians, while others cater to medical fundraising. Another thing to consider is what happens to donations if you don’t meet your stated goal. Some crowdfunding websites refund money to donors if the project isn’t fully funded, while others, like GoFundMe, let you keep any donations you earn even if you don’t meet your goal.
Advertise Your Campaign
According to realtimecampaign.com, the most successful fundraisers are people who have a broad social network and use multiple social media platforms. It’s important to reach out to your friends and followers before your campaign begins. Because most campaigns see the bulk of donations come in at the beginning and the very end, advertising early helps to capitalize on people’s interest in a new project.
Tell A Compelling Story
The most important part of your campaign is the story you tell through words and images. A compelling story will grab the attention of friends and strangers alike, and it will help donors to visualize the impact that their contributions will have. With a passionate, well-crafted narrative, you’ll be able to connect with donors emotionally and make them feel that they have a vital role to play in your mission. As COVID changes fundraising forever, it’s crucial to stand out above the crowd.
Make Frequent Updates
By updating your story and sharing those updates on your social media apps, you can keep your donors engaged and give them reasons to keep supporting your cause. Make sure to give your audience a call to action with each update. That could mean asking them to make a new donation or to share your campaign with their friends.
Give Something Back
Offering a reward can motivate donors to contribute. Musicians and authors, for example, can provide a free download or other merchandise in exchange for donations of a certain amount. Rewards don’t have to be tangible or have monetary value, though. You can also give back to donors simply by thanking them, privately or publicly.
Crowdfunding can be an excellent way to get financing for a business, a project, or a personal need. To get the best results from a crowdfunding campaign, do your research to find the right platform, craft an engaging story, and market your campaign diligently from beginning to end. Cultivate a relationship with your donors by keeping them updated on your progress and expressing appreciation for their help.