Mistakes to avoid in a crowdfunding campaign
Crowdfunding, like we have said before, is no rocket science. However, it sure is a science as well as an art. This makes it very formulaic in nature. Yet, there are some very common mistakes that fundraisers fall trap to.
Knowing these pitfalls ahead of time can help you avoid them. Or even plan a better route towards a successful crowdfunding campaign. We have, therefore, compiled a list a few common ones among them.
MISTAKES THAT YOU SHOULD AVOID:
- Jumping in without ‘sureshot’ pledges – One of the most important steps in preparing for a successful crowdfunding campaign is reaching out to people before the launch. Make sure you have at least 20-30% of the funds pledged already.
- Losing out the launch week/day hype – You must have been communicating with the possible donors from before launching the campaign. Make sure that these conversations convert into backing within the first week, or even better on the first day, of the campaign.
- Not giving backers enough reason to contribute – You may have a great cause, but backers won’t feel connected to it unless you convey it effectively. You can also encourage more contributions by giving out attractive perks.
- Depending only on online donations – Though your crowdfunding campaign is online, your fundraising doesn’t need to be restrained to the interwebs. Go out to community events or public places where you may find possible donors. Speak about your campaign to people you know.
- Not reaching out to your crowd, repeatedly – It is not sufficient to inform your crowd about the campaign just once. Reach out to them with every update and every milestone attained by the campaign. Convey to them your expectations at every stage.
- Unclear or impersonal “ask” – While writing your pitch (or in the pitch video), make sure you clearly state the action that you want the audience to take. When writing emails or on social media, make the message a little more personalized for every recipient/reader.
- Goal-deadline mismatch – Make sure that you have a plan in place to bring in a certain percentage of funds by a certain time such that the target is achieved by the deadline. Calculate exactly the amount that needs to come in every day and then work towards it.
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