We understand that launching a crowdfunding campaign can be a daunting task even to the experienced, so here at ReadyFundGo we’ve rounded up this checklist to help you prepare for a successful campaign.
- Create Your Crowd
- Craft Your Story
- Create Your Stripe Account
- Plan and Create Your Video
- Set Your Funding Goal
- Choose Your Campaign Images
- Select Your Team
- Make Your Project Plan and Timetable
- Pre-Campaign Audience Build
- Marketing and Social Media Plan
- Line-up Your Day One Pledges
- Create your PR Strategy
- Brainstorm Your Rewards
- Consider Any Tax and Legal Issues
- Check the ReadyFundGo Campaign Critera
1. Create Your Crowd
|Before you start it is important you take your first dose of realism and recognize that it is a myth to say that crowdfunding comes with a ready-made crowd. Each campaign has a different target audience so you need to create your crowd. Start by developing target personas for your supporters.|
|Identify where you will find your target supporters and how will you reach them.|
2. Craft Your Story
Your story is one of the most important elements of your campaign so spend the time to make it compelling.
Your story should include a summary of what your project is about and the benefits, what you need the money for, which rewards you will offer, your timetable and anything you can add to demonstrate your team’s credibility.
Make sure you story is easy to read. Aim for 400-600 words and include high quality images of prototypes, products and people. Introduce headings and spacing.
Finally ask 3-5 people you know to see if they can improve it to make it punchier and even more engaging.
3. Create Your Stripe Account
Creating a Stripe account is a pre-requisite of starting a crowdfunding campaign with ReadyFundGo. It is simple to do.
Make sure you complete this step early in your planning to ensure that you are eligible to create a campaign on our platform. We do not want you to spend time preparing a video only to find you are from a location that we are currently unable to presently support.
We currently support most major currencies.
4. Plan and Create Your Video
Your video is your most important crowdfunding marketing tool. We know that many campaign creators do not have Hollywood style production budgets. If your budget is small then keep it simple.
Your pitch should be short … aim to be very concise as half your audience will turn off after 60 seconds. For all videos, we recommend you try to get the most important information in the first 20 seconds. The key is keeping your story engaging and genuine.
5. Set Your Funding Goal
|There is no right or wrong answer to the size of your funding goal but
setting a goal that is too ambitious can deter backers. It is better to set a
smaller target and exceed the target than a very high target and fall far short.
If you have had a successful smaller campaign you can always go back and
create a subsequent campaign.
As a rough guide your funding raising goal should take into account:
· the funds you are looking to raise for your project
· the cost of fulfilling the rewards
· some funds to advertise your campaign
· the platform and processing fees
· any taxes or legal fees
· a small cushion to cover incidentals.
|ReadyFundGo accepts both “flexible” (take what you raise) campaigns
and “all or nothing” campaigns. To set up a flexible campaign you must
be able to deliver your rewards whether or not you meet your target.
Otherwise you must set-up an “all or nothing” campaign.
6. Choose Your Campaign Images
The images you choose for your campaign can make a big difference. Select attractive high-quality images. Include people in at least some of the images.
This is another area of your campaign creation where it is useful to spend some time and take advice and input from others. Remember that the images you choose are likely to be used as part of your general promotion and social media.
7. Select Your Team
Everyone has strengths and weakness within their own skill set so it is a good idea to find others who may be able to help you with either specific tasks, or who have skills in areas which may not be amongst your strengths.
Core teams behind some of the great crowdfunding projects tend to be made up of 2-5 key people. It will be helpful to have a team including the following characteristics: a social media whiz, a great networker, a content writer, a videographer, a marketing guru and if possible an industry expert.
As well as having others involved to ensure you have all the skills you need, it is great to have a team around for moral support during your campaign and to help with the work load. Running a successful campaign can take a lot of hard work.
8. Make Your Project Plan And Timetable
As you can see from the check-list there are a number of different elements to creating and running a crowdfunding campaign as well as delivering the rewards to your supporters.
You may like to use this check-list to develop a plan and timetable for your project and engage your team. As part of your plan aim to have some tasks each week starting in week 1 that focus on building your crowd.
Some campaign creators make the easy mistake of spending all the time focusing on making a beautiful video and campaign story, only start to consider their target crowd in week
9. Pre-Campaign Audience Build
|As part of your week 1 project plan be sure to include actions around your pre-campaign audience build.
Start with contacting your friends and personal and professional contacts and ask your team to do the same.
|Email still has a core role to play in crowdfunding campaigns and should not be under-estimated. Start to build your data base and consider creating a landing page to collect e mail addresses.
10. Marketing And Social Media Plan