If you are about to start a crowdfunding campaign, you may be wondering how to raise funds fast. In this article, we’ll cover some crowdfunding tips that can help you raise more funds for your startup. Based on the type of platform and campaign, you can change and adapt these tips. Read on to find out more.
Tip #1: Do your homework
These tips may be suitable for you only if you have enough time to prepare for this campaign. Generally, it takes about 11 days to do the homework and get ready for the launch of this campaign. Based on your fundraising needs and campaign type, your time requirements may vary. Given below are some tips that can help you get ready:
• Get the best fundraising advice from the internet
• Choose the best crowdfunding platform
• Consider other successful campaigns
• Find out how to ask for donations
• Decide if you should host an event
Tip #2: Request Funds Early
If you think you just need to launch a campaign page and the funds will start pouring in, you need to think again. In the US, there are more than 200 crowdfunding platforms. So, what are the chances of your campaign being found?
So, all you have to do is promote your campaign the same day you launch it, which will help you to differentiate yourself from the rest. According to statistics, about 50% of startups raise most of the funds during the first and last 3 days of the campaign duration.
You can use the built-in sharing mechanism of your crowdfunding platform to spread the word about your startup. This may include Twitter, Facebook and email, to name a few.
Tip #3: Look for potential investors
Look for investors who may be willing to provide funds for a specific purpose. For example, if you know a relative, neighbor, or colleague who has lost a family member to cancer, they are more likely to be willing to provide funding for a cancer research campaign.
Tip #4: Be clear about where the funds are going
If you want your potential investors to trust your crowdfunding campaign, we recommend that you clearly explain where the money is going. It’s even better if you are as specific as possible. By telling your investors about your campaign, you can build their confidence and they will continue to invest more money in your startup.
Tip #5: Offer Incentives
For investors, incentives work like charms but work for certain types of campaigns. The good news is that crowdfunding campaigns are more successful when it comes to creative projects and adventures. Listed below are some of the popular incentives you can offer your potential investors:
• Free tickets to games, concerts or shows
• Media cheers
• Hats and hats
• T shirts
In short, if you follow these crowdfunding tips, you will most likely raise more money for your start-up.