Crowdfunding Tips – 4 Rules to Meet Your Goal

Posted on: by Michael Tringe

As of today, the Kickstarter platform has helped 52,908 projects get funded for $905 Million, with over half of the rest (67,969 unsuccessful projects) missing the mark. There’s one main thing that separates success from failure: planning. Here are 4 key crowdfunding tips to plan ahead to meet your goal.

Our teacher Justin Massion, the marketing director behind the successful campaign “Space Command” which reached over $221K, shares what you should expect when preparing to launch your crowdfunding campaign – and his top crowdfunding tips for planning ahead.

Click to watch Justin’s full course:

How to Meet Your Crowdfunding Goal

Crowdfunding Tip #1: Build your support team. There’s no way you’re going to meet your goal by trying to do everything on your own – and if you think you can, you’re probably seriously underestimating the amount of work that goes into making a crowdfunding campaign successful.

Crowdfunding Tip #2: Update your audience frequently to build engagement. Now that you have a good team in place, delegate the work of creating updates to your backers. Think of your current backers as the start of a bigger snowball that can help you achieve the snowball effect if you can keep giving them a little push.

Crowdfunding Tip #3: Make a simple “how you can help” document for backers and fans. Since you now have people engaged, enage the super-help by giving them a simple clear document that shares specific ways in which they can help take your campaign to the next level.

Crowdfunding Tip #4: Interact with your audience regularly. Your current backers are you greatest asset, and the time that you take to reach out to them – and make them feel like a part of your campaign, is what will create the tipping point to provide you the momentum you need to reach your goal with their help.

Click to watch Justin’s full course:

How to Meet Your Crowdfunding Goal

If you don’t have time to watch the full video of Justin’s crowdfunding tips, feel free to read the summary.

“I want to tell you about what to expect when running a crowdfunding campaign. A lot of people think that ‘if you build it they will come’ – that if you put up a good idea, a lot of people will just show up and start funding you. Well I’m sorry to that it’s not that simple – it takes a tremendous amount of work, and a tremendous amount of authenticity, and really a lot of outreach and needing to work hard and have a great team behind you. It’s not as simple as put up a cool idea and hit the launch button and people will just find it.

The Kickstarter landscape and the crowdfunding landscape as a whole is much more competitive, and therefore you’ need to make sure you’re working as hard as you can to stand out. So one thing you want to be thinking about is your preparation and you’re team building. Make sure you have a great team behind you so that you have everything from graphic design to blogger outreach to making your video. The more people you have involved on your team, the more people that they can reach out to their audiences individually and really branch out. Having a team of hardworking individuals: super-important.

Be prepared to write your updates: you should be putting out an update, whether it’s written, photo, or video – almost every day – at least every other day, or every three days – and ideally, very consistently. So if you can in advance, put together a schedule of what you might want to talk about on this day, this day, and this day. You want to keep people involved and interested. So you’re going to want to do a lot of updates — with graphics, and as many ways as people can help as possible.

In advance, you can set up a ‘here’s how you can help’ document’ with instructions and even collateral like images that they can post on social media. If you’re going to stand out among the competition, you need to show that you’re working for it – and people have a lot of respect for that. I know personally, there was a project called ‘Perennials’ which was a theater show, and the young lady came to my lab in Venice Beach – and I remember for me it was how hard she was working that really helped her to stand out and caused me to want to fund it. So that level of authenticity and that level of passion, seeing her updates come every couple days, actually helped me to increase my pledge for her campaign – so that’s really important.

One last thing to think about – is that you want to make sure you’re interacting with people who are asking you questions — if somebody puts a comment, say thank you for your comment, or answer it quickly – send thank you messages to all of your followers. Or even ask them questions to keep them engaged – because the more someone feels that they’re part of your campaign, the more likely that they are to spread the word and even up their pledge in certain situations. Those are some thoughts on what to expect with crowdfunding. It’s not just going to come, it’s up to you to market the page yourself. And if you do it right, and you do it properly, it’s a great opportunity to bring in great backers, and great pledge counts, and ultimately fund your project.”

Click to watch Justin’s full course:

How to Meet Your Crowdfunding Goal

If you enjoyed this post, you may also like these:

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Written by Michael Tringe

Mike Tringe earned his MFA in Film Production from USC and has worked at Creative Artists Agency Film Sales (Paranormal Activity, Black Swan), Vuguru, Michael Eisner's multi-platform studio, (The Booth at the End (Hulu), Don't Ask, Don't Tell (Snag), Little Women Big Cars (AOL), and Blip Networks (300 million monthly views, Smosh, Annoying Orange, Nostalgia Critic).

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