7 Tips for a Successful Crowdfunding Campaign

Aug
09

7 Tips for a Successful Crowdfunding Campaign

Starting a crowdfunding campaign is easy. If you real want to make it a success we provide you with the right tools. We ensure you that you will reach your goal, if you follow our tips.

1. Choose the right platform

Today a lot of funding models exist. Besides crowdfunding there are options for crowdlending and crowdinvesting. Crowdfunding may be the best option for creatives. Crowdfunding is based on rewards the project owner offers to supports for donations.

Kickstarter or Indiegogo are platforms, where you can nearly anything get funded by the crowd. That can be a disadvantage. How can you be sure that your campaign will be successful someday, if you have thousands of competitors trying to gain attention too?

GamesFyre is focused on all projects related to games and gaming. Developer studios, indie game devs, solo creators, e-sport teams, aspiring gaming periphery engineers and board game enthusiasts reach 100% of the right peer group. Choosing the right platform can decide over successful or failure.

2. Don’t aim too high

Most crowdfunding platforms use the ‘all or nothing’ principle for their campaigns for good reasons. It fuels the motivation of the project owner to put all the work in that is necessary. Nearly campaign that reached the 50% mark, is funded to success.

All or nothing – campaigns try to protect the donors from getting scammed. They are looking forward to receive the promised rewards, because they honestly believe in the project. So project owners can’t simply cash out and disappear forever.

But what happens with the projects, that are going to be released even if they don’t reach the funding goal? We at GamesFyre have a new approach to this. Before we release the collected funds to the project owner, the project and it’s progress has to be verified. If creators can proof they can provide the promised rewards, we decide if we release the funds after the campaign reaches the due date.

To avoid all struggles it’s best practice to choose a reasonable and realistic funding goal. A lower funding goal minimizes the risk of your campaign to fail.

3. Have a master plan

Crowdfunding campaigns can skyrocket over night. Whats most interesting to supporters are recently created projects and those that finish soon. It’s human nature to be excited for new ideas and rewards coming around the corner.

We support our project owners in promoting their campaigns through our network. We want you to be successful. To be honest with you, some campaigns will be hard work, tears and sweat until they are going to be fully funded. Better think optimistic, you may be one of the destinied for overnight success. So ask yourself: am I ready for this?

4. It’s about the presentation

Show that your passionate about your project. You should at least add some pictures. We highly recommend you to add a video. Your video should tell your story or arouse the curiosty of your audience. If a picture can say more than thousand words, what effect could a video have?

5. Diversify your rewards

Your peer group may have very different budgets. You should offer rewards for every budget. Attractive rewards can be beneficial for your as creator. Crowdfunding rewards are similar like a presale. If your rewards will impress your peer group, they will spread the word for your project. Meaning free marketing for you!

6. You need social media

So you worked on your presentation and created amazing rewards. Now you should tell the world. Social media is your chance to reach thousands or even millions of people – for free!

To be successful on social media, it’s all about getting active. Don’t share your project once. Tell your friends and family to share it and interact with it. Share it every time you made a update on your progress.

Social marketing is such a big field, that we will make a whole article on it.

7. Put the right effort to the right time into your campaign

If you expect that crowdfunding can be successful on auto pilot you are wrong. On the first days after your published your campaign you should focus on marketing your campaign. It’s best practice start another promotion phase after you reached the 75% mark of your funding goal. Usually projects are finished very quickly when they come closer to the funding amount. Use that momentum to overstep or even multiply your funding goal.

What’s your special tip for successful crowdfunding campaigns? Share it with our community. Keep your eyes peeled for upcoming crowdfunding strategies in our blog.

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