Crowdfunding has become a hugely successful way for entrepreneurs and social causes to raise funds for their ideas. Websites such as crowdfunder.co.uk and wefund.com have made the process of setting up and marketing your own Crowdfunding campaign incredibly easy, but there are still many projects that don’t succeed.

Here are some of our top tips to help you run a successful campaign and take your business on to the next level.

  • Do some research by checking out other campaigns on your chosen Crowdfunding website. You can learn a lot from those that have been successful and potentially even more from those who haven’t.
  • Set your funding goal as low as feasibly possible. This is a good time to take a very close look at your business plan (and if you don’t have a business plan get on and do one! – we can help you with this). What is the bare minimum that you need to get your project off the ground? Admittedly it is bad practice to not allow for some contingency fund, however if you don’t achieve your fundraising target you walk away empty handed. Whereas if you raise more than your target you get the extra cash and a great marketing tool. For example take a look at Nanoleaf 
  • Have a prototype to show off in pictures or better still videos showing what it can do. If you are selling yourself or your services (as it were) a video introducing yourself and your investment is a must. Aim to have a video of 2 – 4 minutes, short enough to grab their attention but long enough to cover the vital points. For example take a look at Hoverbike
  • Get as much publicity for your campaign as soon as possible, even if you haven’t launched it yet. Tweet about it, Facebook it, Blog about it, get all of your friends and family on board to spread the message. Great PR will also have a massive impact on your campaign so don’t just sit around waiting for the investors to find you. See if you can get on the radio doing an interview or in the local newspapers or trade magazines to gain interest.
  • Offer a reward to your investors. This can be dependent upon the level of their investment, such as a thank you mention in your brochure or marketing materials, reduced prices on your products or services for themselves or it could even be a unique video, tip or photo that you have produced. It may not sound much, so you have to ensure that you have thought about your potential investor and design a reward that would be appealing enough to convince them to part with their money. For example take a look at Ubrew and Downs Designs.
  • Finally, if it doesn’t work out the first time, there is no harm in giving it a second go. You can tap into all of the contacts that you made during your first campaign and ask for feedback so that you can launch again.