Crowdfunding is a painful yet rewarding process.
It is different from the typical selling online kind of scheme where people give you money and they receive a product for it. That’s it. That’s the done deal. That’s not the idea behind crowdfunding at all. With crowdfunding, there is no end product to expect; thus there is no end to the funding process. The challenge is for you to be able to convince people to give you money for something that they won’t receive immediately, not even for the next few months.
The primary goal of a crowdfunding campaign is to be able to raise a certain amount of money, but it has to work hand in hand in making it possible to raise awareness for a certain issue as well.
Strategy 1: Reduce the Risks
From the donor’s perspective, you have to understand that there are some perceived risks in donating money to a project they know very little about. Since the idea is that these donors are paying someone they don’t know to create something they advocate for, it does not help if the emphasis is on put on the unknown variables in the equation. To increase your odds of successfully carrying out a campaign, you should work on reducing the risks that the project may come with.
Strategy 2: Work around your Reputation
Creator incompetence, project risks and fraud are three types of identified risks by potential crowdfunding donors. One thing is true for all these risks – the creator. Therefore, considerations concerning the quality of your work and trustworthiness must be made to reduce the risks of getting less support from potential benefactors. Remember that you as the creator should not only focused on building the project and selling the idea of it for funding. You must also work on establishing a reputation of crowdfunding campaigns that really deliver.
The perks and rewards that you offer people in exchange for their support can help entice most of them to sign up. But the real reason why crowdfunding projects are getting support is because it relies on people’s idea of giving and the concept of generosity. How do you get more funding for your campaigns then? Perhaps understanding human behaviour particularly on why and why people give money and the principles behind it should be able to help you plan your crowdfunding campaign carefully.
To be able to influence people to support your cause, you should become more self-aware. You have to know whether you are doing things right or you are delivering the right message across.
