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Crowdfunding: The New Way To Receive Funds
Crowdfunding is relatively the new phenomenon in receiving funding for new ventures. This new way of funding cuts out the traditional ways for new ventures to receive funding. Crowdfunding allows people anywhere in the world to invest in the campaigns they choose. This emerging industry gives campaigns that would normally be unfunded a chance to receive the funding they desperately need to make their dream a reality.
The Essentials Of Building A Great Campaign
Learn how to build a great campaign from the ground up! We've looked at the best performing crowdfunding campaigns and discovered key characteristics that can be applied to your campaign strategy.
In this guide you will learn:
- A little about this new phenomenon in receiving funding
- How to build momentum for your campaign
- The Crowdfunding Rule of Thumb
Keys to Success
- Have a great campaign pitch (Be Honest, Be Transparent and Be Authentic)
- Being Proactive
Audience that Cares
- Plan to raise the first 25% of your target from people you know
- Momentum is vital - more than 80% of projects that achieve the 20% funding mark go-ahead to be successful and the sooner that milestone is reached, the greater the chance of success.
- Link your campaign to other pages
Creating a campaign for crowdfunding requires a lot of preparation. Campaign owners should ensure they do everything in their power to make their campaign a success. With this in mind, every campaign should have the following:
- A description of the campaign - Give a description of your campaign idea, cover the who, what, when, where, why, and how of your campaign. Be authentic.
- Funding target - Know how much you actually need to raise
- Network - Reach out to your social network
- Campaign video - Produce a compelling video detailing your project
- Campaign images - Add photos to personalize your page. You can add video links that help tell your story.
Project owners should:
- Be a registered entity
- Have an existing JN Business Account or open a JN Business Account prior to the end of the project
- Not be listed on another crowdfunding platform at the same time
Crowdfunding Launch Formula
Running a campaign is a great deal of fun and a considerable measure of work. Ensure you're prepared before you launch!
- Create a Facebook page.
- Create/launch Facebook ads.
- Create a call to action on Facebook and link it to your campaign.
- Post 4 - 5 times a day with mini videos and pictures your audience will like.
- Organized a team to handle various tasks during your campaign.
- Analyze other campaigns to see what's been done, there target amount, how much they raised, the average donation and the campaign duration.
- Set up an email service. This method will allow you to mass email all the people whose email addresses you have.
- Create graphics for your campaign.
- Share it a lot!
- Shoot a video.
- Build a landing page before you launch your campaign.
- Create perks and price ranges for donors.
- Treat your campaign as a marketing vehicle.
- Crowdfunding isn't simply getting donations; it's also about finding and connecting with individuals interested in your initiative.
- Exploit the power of social media - the more widely you can spread the word about your project the more support you will receive.
Crowdfunding Rule of Thumb (SEBI)
Strategic SOCIAL Media.
- Pick the networks that best match your marketing and content strategies and where your potential supporters are most likely to be found.
Success is about ENGAGING your audience!
- Do nothing once your campaign is live, and the odds are that nothing will happen.
Let them BELIEVE in what you do and why you do it.
- Crowdfunding starts with your friends, family and existing fan base. Encourage them to contribute!
Build INTEREST before you close.
- Even before you launch your campaign, you can drum up interest in your campaign. With a solid fan base in place, your campaign will get to a good start.
Gain Early Momentum For Your Campaign (Raise $2,000 in 10 days!)
Invest in your campaign, BUILD momentum!
- Put in your $200 donation
- Ask four family members to donate $100 each
- Ask three friends to donate $100 each
- Ask two co-workers to donate $50 each
- Ask your boss to donate $150
- Ask two local merchants to donate $100 each
- Ask three neighbours to donate $50 each
- Ask two doctors to donate $100 each
- Ask two people from church $50 each
- Ask four friends of your parents to donate $50 each
Still, need some assistance?
Visit our FAQ page or contact us at ISupportJamaica@jngroup.com