September 26th, 2018
10 Must Knows For Successful Crowdfunding
The Crowdfunding landscape is changing rapidly with new technologies and giving trends. There is a lot of attention on Crowdfunding in the United States because of the JOBS act, short for Jumpstart Our Business Startups, which allows the general public to receive company equity in exchange for funding business startups. AngelList and FundersClub were recently blessed by the SEC, and white-label Crowdfunding software solutions such as Katipult will help others produce similar innovative crowdfunding platforms.
The National Crowdfunding association of Canada (NCFA Canada) is working hard to fill a need to unify a broad-based an inclusive crowdfunding voice into a single national entity and to provide a forum for all businesses, industries and stakeholders across Canada. With organizations like the NCFA Canada providing awareness and advocacy, Canadians should soon be able to fund innovation through home-grown equity Crowdfunding platforms.
Here are 10 ways to engage supporters and ensure a successful crowdfunding campaign:
If you build it, they won’t come
You need an online fundraising strategy! Simply having a passive website to collect donations won’t deliver results. We want people to contribute their hard earned money because its fun and rewarding. Remember, raising money is only one half of the equation.
People want to feel like they can make an impact with their contribution. If the objective of your fundraising campaign can’t be measured or quantified, you’ll need to rethink it. To create a movement online you need a clear, well-articulated strategic plan that creates a sense of urgency and provides a definitive point of success. Although they are a major component of every project, people don’t like to think they are paying administrative costs.
Centralize your Project
Its time to get organized! Create a hub for all your project information that you and your supporters can easily share through your social media channels. Store your campaign videos, photos, and blog posts. With everything in one place, web analytics will allow you to optimize your fundraising efforts.
The Story is Everything
You need to connect with people and compel them to donate to your initiative. Learning to tell a story that others will share is an art, it’s the foundation of marketing and advertising. Understand the motivations behind your supporters, and communicate your message with emotion and clarity.
Your Network is Gold
To create momentum you need to start grass roots, with those closet to you. With the rise of social media, a strong message can spread fast to a very large audience. Leverage your network. This is the essence of “Crowd Funding”.
Show the People Involved
People always give to people. A personal connection with your project manager, and social validation from other supporters go a long way.
Brock Willis works at JOI Media, a Calgary based software development company. Winner of the Emerging Enterprise of the Year Award in 2011, JOI Media has two industry leading products including a Social Intranet and a Crowdfunding Platform.
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The National Crowdfunding Association of Canada is Canada’s Crowdfunding Advocate. Newly formed, dynamic and inclusive, NCFA is a cross-Canada non-profit with a mandate to be inclusive in providing education, awareness and advocacy in the rapidly evolving crowdfunding industry. NCFA Canada is community-based and membership-driven entity that was founded at the grass roots level to fill a national need in the market place.