Setting up a strong crowdfunding campaign requires a considerable amount of preparation and those efforts could pay off. But once the page has launched, it is all up to the backers to help the vision achieve its funding goal and unfortunately the vast majority of projects don’t. But if you look at the closing updates of these failed campaign pages, it is never the end of the road for them. Think of project failures as lessons that will make you more experienced and could direct you to a new path of success. You just need to make the right moves after the sudden failure and these tips will help.
Evaluate Your Marketing Approaches
A failed crowdfunding campaign usually means that not enough people are interested with your proposal. But it is also quite possible that only a small amount of people are actually aware of your crowdfunding project’s existence. Confirm if that really is the case by doing a general Google search of your crowdfunding page. Has any news outlets or blogs covered your project? Did anybody post a link to your crowdfunding page in a forum or at least talked about it? Perhaps broader coverage and stronger social media presence could have attracted more backers.
Discuss with Your Loyal Backers
If a good handful of folks backed your project, you should keep in touch with these guys. These folks will be the driving force of your next crowdfunding attempt as long as they know that you haven’t given up on the vision. While the news is still fresh, reach out to them and discuss with them the problems that might have hindered the funding phase. Take their feedback into strong consideration because if you think your marketing was sound, the primary things that need improving are the presentation and product. Connecting to the backers that paid the most money is a good bet. If you can’t reach out to them, create a forum and post a link to that forum on your main crowdfunding page for a chance to build a small community.
Slowly Prepare the Second Coming
That small community could be a powerful starting point for a second crowdfunding attempt. Your second attempt shouldn’t start right away because you should take time to plan things more carefully and really make the launch better and more attractive than ever. Prepare an elaborate marketing campaign and iron out any potential flaws so viewers can back the project without hesitation. Once you have launched your second coming, address the fact that you have launched a campaign in the past just to show how dedicated you are as a creator. Since old crowdfunding pages don’t die out and can still be edited to a certain degree, add a link or video pointing to your new page so you can bring all the old backers back onboard.