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Crowdfunding: 5 Steps to Implement It According to Your Project
4 min read
Do you currently have a cause that requires financial support? Crowdfunding is your solution.
It is considered as a practice to finance a project or company by raising small sums of money from a large number of people and it is usually through the Internet.
It is a form of crowdsourcing and alternative financing.
In 2015, more than 34 billion dollars were raised worldwide thanks to this practice.
If you need to raise money in a short time, crowdfunding is an efficient option, as it is easy to use, you can create campaigns and sharing will not require much time.
There are 5 steps to follow and if you execute it well, you can raise almost half of your goal in the first three days.
Steps to implement a crowdfunding campaign.
1. Design your fundraising strategy
Although it is tempting to launch your campaign as quickly as possible, it is better to take your time and prepare your strategy well.
The more time you spend defining your campaign, the less time you will have to solve any problems that may arise in your crowdfunding.
Remember that with a plan in place, you will know what action to take to keep your campaign going strong until you reach your goal.
Crowdfunding campaigns require time, energy to raise awareness and attract donors, and you may have to dedicate your resources to the cause you are fundraising for.
It is advisable to delegate someone you trust, whether it is a friend or family member, to help you run your campaign so you are not juggling.
2. Create a crowdfunding page that is attractive and easy to find
This is key as your contributors will learn more about your cause and contribute through your page. What's more, your campaign website should be easy to find on search engines to reach more people.
Now, in order for your website to be found, it must contain 3 key elements: title of your campaign. This should be easy to understand, attention-grabbing and communicate why you are fundraising. Design: it should contain images that encourage your donors to give.
But most importantly, the design needs to look very professional and legitimate.
What's more, it is proven that by including several images and even a video, you will be able to raise funds much faster.
Describe your campaign well: this element plays an important role in the visibility of your campaign in search engines.
That said, your description should not only give value but also be concise enough to engage your potential contributors with your cause. When a crowdfunding page is easy to find, more people are likely to contribute.
3. Your CTA needs to be quick and easy
CTA stands for Call to Action, this means that the way you ask for a donation (a text or button for example), has to be accessible to your potential donors.
Also, it is recommended that your fundraising website is the only place where you can accept donations for your campaign.
This is why you should use direct language and be clear so that they contribute and do not be afraid to ask for a specific amount.
This will save them time, as they will not have to guess how much they should give you.
For example, if a contributor has any unanswered questions or does not understand your crowdfunding, these points are likely to make your donor postpone their donation.
4. Use off and online media to raise awareness of your crowdfunding
There are 2 ways you can reach your contributors: Social media. They are the most common way to share crowdfunding campaigns, as they get interesting connections and get more donors.
To reach more people you can:
- Use hashtags to find your cause;
- Keep your message short and concise;
- Include an image, video or other visual to attract attention;
- Always link your campaign;
- Use email.
Sending emails or letters can also help you reach out to people you already know or to companies and foundations that might donate to your cause.
In fact, you get more opportunities to express your need and reach the emotions of your donors.
You can even use this medium to announce the launch of your campaign and at important moments (i.e. midway or a few days before it ends).
Local media: if you want to help your campaign gain momentum and raise awareness of your cause, consider contacting your local newspaper or other media outlets to see if they are willing to publicize your crowdfunding.
Give them all the information about your cause and how important it is to be part of it.
That way you can reach out to people in the channels to get them involved in your cause.
5. Thank your donors on a regular basis
This step will help you raise money quickly, so don't wait until the end of your campaign.
Instead, thank them from one until three days after they have donated.
By doing this you show your donors that you are grateful for their support and that you care about them, not just the money.
When your contributors see this, they are more likely to continue to support your cause by sharing your page with their friends and family or making additional contributions.
Use a CRM to manage each donation.
To keep everything 100% in order and get more donors, a CRM can be key.
This tool provides you with the administrative, sales and marketing support you need.
It even helps you get your whole team on the same page - try it now!
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