Building a crowdfunding platform such as ICO is not an easy task. Apparently launching crowdfunding campaign seems exciting because of the money and the fan base it generates. But things are not as easy as we think.
Hire ICO expert or crowdfunding service providers for an advice. They know how crowdfunding campaigns can produce better results in no time.
Successful crowdfunding campaigns take time. They need strategic planning, and proper marketing. There are few things important for crowdfunding campaigns.
Assess if the crowdfunding is right for you?
Crowdfunding is an amazing tool for raising funds and making a startup financially stable. There are following questions you have to answer before launching a campaign.
- How your brand is different from your competitors?
- Which form of crowdfunding do you need? (equity and reward-based crowdfunding are few forms)
- What is the fee structure for the platform?
- How thoroughly do you know about your audience?
- Do i have the crowdfunding campaign tools?
- Do I have the team for manufacturing the product once the campaign is over?
Pick the type of crowdfunding for the project / startup
There are basically four types of crowdfunding. Reward-based, just like Indiegogo and Kickstarter. Peer to peer lending, like Lending Club. Donation-based crowdfunding, like GoFundMe. Equity crowdfunding, like CircleUp. Each crowdfunding platform offers its pros and cons but all of the mentioned platforms are well-known and ideal for crowdfunding.
Use powerful campaign titles
Best practice in picking a name or title of the campaign is understanding the fact that name will drive audience. Be descriptive, don’t title the campaign with the product name only, lead them towards ‘what the product is?’ Moving forward, explain the product benefits and not features.
Plan your marketing budget
Luck has nothing much to do with the success of the campaign. Plan the budget ahead of time. Invest efforts smartly on the tasks where you can actually get traction. Don’t fall for common crowdfunding mistakes and beware of the current marketing trends.
Offer series of great rewards
For getting the support of your fan base, offer them some rewards. Rewards engage your audience and the response will improve as a result. It may be time taking to think of ways which motivate and excite your audience.