In December 2017, I set out to launch my first crowdfunding campaign to fund the idea of a mobile App. An App is a Pie-style Gratitude Journal which helps to write down grateful moments on a daily basis.
To know more about the App- GRATITUDE PIE APP
For any crowdfunding campaign, you need a platform that supports your project, help you reach people and make it look trustworthy.
After much research, I chose Bitgiving majorly because of 2 reasons- It is an Indian platform and second, It offers Flexible funding.
As suggested by experts, I started sharing my project over social media, months before the Campaign actually started and I must say it really helped.
You should start creating noise at least 3 months before the campaign actually starts so that people should know in advance about your Goal and steps you are taking to achieve the same.
It takes time to win the trust of people and when you start early, its easier to make people believe in you.
However, I was not successful in raising 100% of my goal but reached only 40% of the total funded amount.
There must be reasons behind it, I thought. So, I started compiling the things I missed and crowdfunding mistakes I made.
I failed to make People believe in underlying idea “Gratitude”
I think I failed to make people believe in “Gratitude”. Because most of the people who have contributed towards the campaign knew me personally or professionally.
They have contributed to MY dream and I am thankful to them. But it would be great to have the contribution from the people who do not know me but would love to contribute to the idea behind i.e. GRATITUDE.
Why Gratitude is important? Answers from the experts- Read this.
Short Email list
Emails help you inform all your supporters about the progress of your fundraising campaign.
I had around 100 Email subscribers which are not a big number when it comes to spreading the message wide and far.
I did not gather the Emails of my Friends and Family and Colleagues, who are considered as the major contributors.
No media house involved
While I was creating a campaign, I read the article which advice to involve a Media house or Magazine or Journalist to take your message to the world.
But I failed to find and contact any.
No endorsements from influential people
Even if your idea is new, you would find many influential people talking around the subject.
Approach them for their help and personal recommendations.
They may say No but how would you get know before asking them.
No newsletter from Crowdfunding platform
There wasn’t any newsletter form Bitgiving informing their users about the campaign, which I believe is the weakest part.
People trust the platforms and if they send out an Email highlighting your campaign, people must pay attention to the campaign and contribute.
No contribute button on my Blog
There wasn’t any Popup or bar over my Blog which tells visitors about the Campaign I am running.
I should have included a call-to-action button on my Blog which would give the user an easy way to contribute to the campaign.
Missing separate Campaign page
Promoting your Campaign on your Blog is a good idea but you should always have a dedicated Blog Page for your Campaign or otherwise, it would get lost in the pool of posts.
To catch more eyes, you can include the page link in your Header menu.
Mention the page link in your Campaign to direct the readers to your Campaign page. You can also offer Freebies so that they opt-in for the Email Newsletter (which is a win-win).
Harnessing the power of Twitter
People recommend the name of your Twitter account should reflect your campaign. But I used my current account only for the communication.
You can also conduct a Twitter chat about your subject using the relevant hashtags.
It helps you to bring respective Influencers together and build a network.
That is what I feel my crowdfunding mistakes were. Since my campaign ran on flexible funding, the goal I set didn’t really matter; I will launch the App. What I got is the support and shout out from fellow Bloggers, my Family, and Friends over social media.
Building a crowdfunding campaign is hard work and it takes courage to put your idea out there.
So even if you don’t reach your goal, crowdfunding is a great mechanism to test your idea. My crowdfunding campaign was a positive experience for me. I wish I would have discovered these factors in advance to have more control over the campaign success.
Hopefully, these mistakes and experience help and motivate you to launch a great crowdfunding campaign.
“This post is written as a part of the #AlexaTheIncredible campaign hosted by #womenbloggerwb”