A while ago I went to talk in Sydney on crowdfunding by Pozible co-founder Rick Chen. Crowdfunding is such a great opportunity for creative businesses to explore, not only in terms of your financial strategy but also incorporated into your marketing. Here are my top takeaways for arts-crowdfunding.
-
Pick the minimum amount you need to make your project happen. Crowdfunding is an all or nothing thing so if you miss your target you get nothing.
-
Get friends and family to help get you over the line if you are at the 11th hour and not quite at your target.
-
Make sure you can and do deliver what you promise.
-
Crowd funded income is still income don’t forget to include it in your tax return.
-
Expect a burst at the start of your campaign, a lull in the middle and another boost at the end.
-
Make your rewards engaging and worthwhile.
-
Get creative with your campaigns, they are a great way of engaging people with your brand and product.
-
Be prepared. Crowd funding campaigns are hard work. Have a strategy and the wherewithal to follow through.
-
Don’t make your campaign too long. Crowd funding campaigns are exhausting and its hard to keep traction on longer campaigns.
-
Have a great video that is personal, transparent and engaging.
-
Keep everyone updated through your social media and marketing channels.
-
Have a good social media/email list following before you launch.
-
Your campaign has to be project based.
-
No donations or raffles allowed.
-
Consider using crowdfunding as a part of a wider marketing strategy to create interest and engagement with fans.
-
Promote your campaign to promote your business and increase followers.
More info about crowdfunding for the arts check out these links –
http://www.pozible.com/help/handbook
Recent Comments