How to launch a crowdfunding project

Posted By Brie Austin In Category: Blog

There is a huge trend right now of people attempting to crowdfund their big idea. To do that many are spending money hiring promoters. Although promotion is certainly a good idea, and should be part of an overall promotion strategy, there are things you can do before spending that money to see if the idea is attractive to potential investors/ sponsors.  You’re just starting a long process, so there is no sense splurging all your money on advertising without testing the waters, first. So here is how to launch a crowdfunding project inexpensively.

The truth is that there are crowdfunding techniques that don’t require you to spend a lot of money. Start by telling a good story. If there is something about your idea that can attract people and make them easily relate to it, they might be interested in funding it.

Another strategy is to build your audience by captturing their email information so that you can communicate with them in the future. This may be sharing press releases, new developments about your project and, ultimately, asking or their support. Sending emails doesn’t cost you anything except a little time. Therefore, it is a good strategy. But remember not to just keep banging on people for moeny. Engage them wiht each email, tell your story, explain the concepts, the markets, the value. If you make a good case then the funding will follow.

Most of all, maximize your friends and relatives. This is not as easy as it sounds. People can be reluctant to give away their money, even if they are friends and family. But they are still the first group to appocah, and hopefully convince to get on board.

Be Flexible

Don’t push friends and family into an uncomfortable corner by pressuring them.  In addition to — or in place of — money, friends and family can also be a great resource if they were to help get the word out. If they tell their friends, who tell their friends, who tell their friends,you can quickly see your project awareness grow. Don’t be afraid to ask them to become evangelists and get the word out, in eprson, on social media, and even an email blast.

Even if you only tap 5 to 10 people to help you spread the word, it can go viral soon.

Below is an infographic containing some more tips on how to crowdfund your ideas without spending a lot of money. Hopefully, this ends in a huge success.

How to Crowdfund Your Next Big Idea (And Not Spend A Dime)

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About Brie Austin

Co-author of I'd Do It Again, he is a columnist/reporter for a variety of magazines in the areas of music, lifestyle, nightlife, travel and business. He also writes business documents and creates copy for websites.

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