7 Crowdfunding Lessons I've Learned Over The Years
Every person who’s ever launched a crowdfunding campaign has certainly experienced some ups and downs along the way.
I'm no different, as it took a while to really evolve into the crowdfunding entrepreneur I am today. I'm busy and challenged just like you are running my website and blog (https://crowdfundking.com/) and trying to make an impact in the business world helping other's achieve their goals through utilizing all that crowdfunding has to offer.
1: Being different helps a lot
There are so many different crowdfunding campaigns out there these days that they can all start to look the same. What makes a new crowdfunding campaign different in the vertical you’re looking to promote? If it is very hard to figure out exactly what makes it different, keep working until an answer is found.
Everyone should be striving to have an idea that is a true game changer. It's very hard to survive if there is no real difference compared to what is already on the market.
2: Getting help beforehand is beneficial
This should come as no real surprise, but a crowdfunding campaign is a lot more likely to be successful if it has some type of backing before launching. It doesn't have to be much, but even great ideas need a little bit of a boost in the beginning.
Try to come up with some type of funding, no matter how small, the traditional way. Relying only on crowdfunding is usually going to end up being a bad idea.
3: There is no such thing as auto pilot
A crowdfunding campaign needs care every single day. No one should ever feel like they can have success just by launching a campaign and seeing how it goes. Even if there is some initial success, look for ways to capitalize on it and really blow everything out.
4: First-time creators may experience challenges
No matter how much a first-time creator might feel like they have everything under control, it doesn't always go that smoothly. There is a lot that goes into a crowdfunding campaign, and even with help, some creators struggle.
Maybe the biggest problem is actually meeting deadlines once it is fulfilled as a crowdfunding project. No matter how much time a person may think they have, plan for even more time to get all the orders filled.
Remember that missing deadlines constantly is going to ruin a person’s credibility. After building up all that trust and having a crowdfunding campaign funded, don't turn around and blow it.
5: Success usually comes early
Crowdfunding campaigns can last a month or more, but there are a lot of strong indicators after the first couple of days. There is always a chance of something going viral later on, but those first few days are very important. People should be looking for as much funding as possible, or they are going to get lost in the shuffle.
6: One video can make a huge difference
A person can write the perfect sales page for a crowdfunding campaign, but it won't do any good without at least one video accompanying it. Most people who are backing projects are only going to spend a few seconds looking at something before they decide on whether or not they like it. The video is the quickest way to tell a story and potentially reel in a backer.
7: Luck may sometimes play a factor
Preparation is definitely your best friend, but luck will always be somewhat of a factor in crowdfunding. There is really no telling how the public is going to react to a crowdfunding campaign until it is launched. Do whatever possible to set up a winning position, but understand that outcomes might not be consistent with your expectations depending on a variety of different circumstances which need to be accounted for.