Questions

What platforms would you use for reward based incentives (giveaways as opposed to equity)? How would you get the word out? Would you hire an expert to help? What are other things to consider. Thanks!

For crowdfunding I think Kickstarter is the best way to go. It seems to be the most well-known, and doesn't hide the dollar goal amount like some other platforms. I think transparency is key in gaining trust.

Setting a reasonably low goal amount is a good practice because it helps build momentum. I used Kickstarter for my last endeavor, a unique song-a-week project that raised $35,000. That's 400% of my $8,500 goal, which was fully funded in the first 12 hours. Having the goal amount visible helps people feel connected to a tangible goal and feel like partners.

The best way to get the word out is through an existing community of "fans". Obviously having a unique and remarkable product is crucial. Give your fans a something that they can tell their friends about in a few words.

People don't buy WHAT you're doing, they buy WHY you do it. Be passionate about the reason you're starting the project, give people a chance to resonate with you and your company.

Note: I'm not a business person. I'm a musician who's learned enough about business to keep doing what I love. I'm also a music fan, which helps me always keep my audience in mind. I think this is extremely important. What do they want? What will they feel connected to?

Do your homework. I researched hundreds of successful campaigns before starting mine and felt it was time well spent.

Offer creative rewards. The more creative and unique the rewards, the more likely people are to get involved and spread the word.

As far as hiring experts, I don't think that's necessary but do agree that seeking advice from those who've been successful crowd-funders will go a long way.

I would love to talk more with you about your project and brainstorm some out-of-the-box strategies to help effectively connect with your audience and get them passionate about your campaign!


Answered 11 years ago

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