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Mar 06, 2017 at 12:36 AM

Crowdfunding Guide: 5 Steps to Success

By Alexandra Trujillo
Crowdfunding Guide: 5 Steps to Success

By Edward Daciuk

An estimated $34 billion in crowdfunding was raised in 2015 globally. But contrary to what some might think, it’s not as simple as putting up a campaign page and letting the dollars roll in. In fact, most campaigns fail. It’s estimated that over 500 new crowdfunding projects are created everyday, and only 2% of campaigns with a goal of raising over $100,000 actually hit their goal.

To make your campaign succeed, you’re first going to need an established presence online. 

In this guide, I’ll give you the 5 steps you need to follow, in a convenient checklist format, to make your campaign one of the winners:

Make sure your product is right for crowdfunding

Build a crowdfunding plan

Create the necessary assets for your campaign

Build pre-launch momentum

Execute the campaign

While there are several different types of crowdfunding, by far the most popular is rewards crowdfunding. Rewards crowdfunding allows you to source a small amount of money from a large number of people in exchange for providing rewards, such as a product sample, to your backers. The most popular crowdfunding sites, such as Kickstarter and Indiegogo, focus on rewards crowdfunding, and that’s what we’ll be covering in this article. However, much of the information in this crowdfunding guide is applicable to any type of crowdfunding campaign.


Posted in Small Business Financing.

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