Crowdfunding is one of the best ways to raise money when you’re in a jam. It has helped people pay for travel expenses, medical bills, end-of-life costs, and collect startup funding.
There’s no telling what you can do when you ask friends and family for a little bit of spare cash, but, an effective crowdfunding strategy ultimately comes down to your approach. To really make the money add up, you have to know how to run a successful crowdfunding campaign.
Here are five tips to keep in mind the next time you have to raise money.
1. Make Your Description Mean Something
No matter what you’re raising money for, you have to make it relatable. This goes for whether you’re asking for money to cover next semester’s tuition, this month’s rent, or to pay off last year’s impulse car purchase. Even things that seem like they’d be a no-brainer to donate for – like medical expenses or disaster relief – need good descriptions.
The more heartfelt your crowdfunding purpose and pitch are, the more people will respond. You have to tug at their heartstrings and make them feel a connection to what you’re raising money for.
The people who know you will be easy to persuade, but write everything as if you were talking to a total stranger. How are you going to make that person reach into their digital wallet and donate some money? If you can figure this out, you’ll have more crowdfunding success than you think.
2. Be Transparent and Forthcoming
Be careful of coming off desperate or sales-y when writing your crowdfunding campaign’s description and pitch. This is sure to turn people away.
When in doubt, just be honest.
Share why this trip matters so much to you or how the medical bills you’re trying to pay for were acquired. Maybe the flight to Europe is what will get you to the internship you’ve been selected to participate in or the medical funding is what you need to get top-notch treatment, like what TL Dental offers.
Such details make it easy for people to trust that their money is going to the right place, and it also makes them feel good about the contribution. Donors will know they’ve made your struggles a bit lighter with the money they provide.
3. Ask for Shares, Not Just Donations
Not everyone who connects with your crowdfunding campaign has the money on-hand to make a donation. But, they can still support your efforts by sharing the post and telling their friends and family about it!
Don’t underestimate what the power of a few shares can do. You never know who’s third cousin may have a lot of money to give or if the coach of your childhood sports team is still Facebook friends with your mom or dad.
You can’t reach everyone on your own, but you can do much more for your crowdfunding campaign when you learn how to put the efforts of multiple people together. Ask for shares – and ask for them more than once. This will do wonders for the success of your campaign as a whole.
4. Reach out to Close Friends and Family
Speaking of asking for shares more than once, get a little personal when doing so. Instead of making a generic social media post over and over, send a direct message to the people in your inner circle. Even better, pick up the phone and call them or at least send them a text.
This is another action that shows just how much your crowdfunding campaign matters. It makes people pay attention and do something to support you, even if they’re not donating themselves. When you get two or three people to post about your campaign a few times, you’re creating waves.
Next thing you know, you have a bunch of donations rolling in! It’s that simple to turn a few shares and donations into a movement. All you have to do is figure out how to set things in motion.
5. Express Gratitude and Share Updates
To keep the momentum of donations and social media shares going, express gratitude. Say “thank you” as much as you can and be direct about it, too. Tag the people who have made significant contributions and those who have been telling others about your crowdfunding campaign.
This brings the authenticity of your crowdfunding campaign full circle. It shows people how invested you are in this project and how thankful you are for their support. It also lets them know how much further you have left to go, which may entice people to donate a second time.
Plus, this creates even more exposure for your campaign! Every time you write a post of thanks or an update about your project, you’re continuing the conversation with your online community. This keeps you relevant in their minds, which is often the subtle nudge people need to donate.
If anything, it gives you more shares to spread the reach of your crowdfunding efforts even further. This makes it easier for you to reach the financial goal you’ve set.
How to Run a Successful Crowdfunding Campaign: Start Right Now!
The longer you wait to start crowdfunding, the longer it will take to raise all the funds you need. Now that you have all the insight necessary about how to run a successful crowdfunding campaign, you have to put your knowledge to use.
Take some time to research different crowdfunding sites and organizations and choose the best one for you. Then, set up an account, write a heartfelt description, and start sharing your campaign with others.
The rest will figure itself out until you reach the success you’re looking for.
For more interesting ways to raise funds and make ends meet, click here.