Raising money from crowdfunding isn’t something you can do without putting in some effort and time. You need to put together a compelling campaign that will attract people who are interested in your cause, and you need to provide incentives that will entice them to donate their hard-earned money to you instead of someone else’s cause or business idea. Here are 5 tips for raising funds through crowdfunding.
1) Plan Before You Start
It’s hard to raise money through crowdfunding if you don’t have a solid plan. Don’t just think, Oh yeah, I want to raise X amount of money; how am I going to do that? You should actually take some time to think about what you need to raise that amount of money and what kind of product/service it is that you are trying to fund.
2) Tell People About It
Once you have your business plan, tell everyone you know. Also, start networking with people in your niche and your community. There’s no better way to raise money than by having great conversations with people who are excited about what you’re doing. Start building these relationships now—don’t wait until you need money to find someone who can help you out.
3) Invest In The Process
If you’re just looking to raise a few thousand dollars, crowdfunding might not be worth your time. If you’re looking to raise a hundred thousand dollars or more, then it’s definitely worth your time. Getting funded is going to take a lot of effort – set aside some time in your schedule and make sure you can dedicate yourself to seeing your project through from start to finish!
4) Offer Something in Return
Nothing—not even cold, hard cash—is free. That’s why it’s important to establish clear rewards for those who invest in your project; crowdfunding is a give-and-take relationship between funders and fundraisers. Funders want to feel like they’re getting something of value in return; they don’t just want to throw money at a cause or an idea, then sit back and wait patiently.
5) Be Consistent and Persistent
If you want to raise funds through crowdfunding, you’ll need to dedicate yourself to reaching your goal. You’ll have to be persistent in marketing and sharing information about your campaign. And, above all else, you’ll need consistency—not only in how much time you devote to raising money but also in what types of platforms and funding methods you use. For example, if someone isn’t responding as expected on Facebook, don’t give up; go try LinkedIn or Twitter instead.