After the Crowdfunding Campaign: Checklist for What to Do Next

Post-campaign activities are just as crucial for setting yourself up for long-term success.

Echy Wong

February 1, 2024

Congratulations, you've run a successful crowdfunding campaign! You raised the necessary funds to begin your project, and you've established a base of supporters who believe in your work. But the campaign doesn't end once the funding goal is reached; in fact, post-campaign activities are just as crucial for setting yourself up for long-term success.

Finalizing the Campaign and Securing Funding

Before moving on to post-campaign activities, it is important to close out the campaign and finalize funding. First, you should confirm that all pledges have been accurately processed and that the crowdfunding platform has deducted its fees. Additionally, it is advisable to double-check your banking information to avoid any delays in receiving your funds due to technical issues. Finally, take a moment to express your gratitude to everyone who contributed to your campaign.

Addressing Taxation and Legal Obligations

It's important to know that income obtained through crowdfunding is subject to taxation, just like any other source of revenue. To ensure you're accounting for the income correctly, you should familiarize yourself with the tax and legal regulations in your particular jurisdiction. Seeking advice from financial advisors or accountants can help you navigate the tax implications and stay compliant with legal requirements.

Engaging with Backers Post-Campaign

Your backers are crucial to the success of your business or project, as they provide the necessary backing to keep operations running. It is important to respond promptly to their inquiries and keep them updated on the project's progress through regular updates This will help them feel more connected to your project and increase the likelihood of them spreading the word on your behalf. If there are any delivery delays, be sure to inform them promptly. Don't neglect your backers as they are instrumental in supporting the operations of your business or project.

Fulfilling and Incentives

When offering rewards and incentives, it's important to deliver them as promised. Over-promising and under-delivering can lead to negative publicity and damage your credibility. To avoid this, make sure you have a plan in place for each reward level and set realistic delivery deadlines. If there are any changes to the expected delivery timeline, communicate them to your supporters as soon as possible. This will help you build trust with your audience and ensure that they remain engaged with your offering.

Collecting Feedback from Backers

Backers can provide valuable input on how to improve your project. It's important to take the time to gather feedback from them and use it to refine your project after the campaign. You can consider sending a survey to all backers to collect anonymous feedback or reaching out to them individually through direct messages. This will help you make your project better and more successful.

Developing a Strategy for Ongoing Engagement

Crowdfunding is more than just a one-time transaction where your backers only provide funding. They are people who have faith in your project and are vital to building your brand. Therefore, it is important to think beyond the crowdfunding campaign and develop a plan for continued engagement to keep your backers interested in your business or project even after they have received their rewards. You can organize events, create newsletters and social media posts, and offer exclusive content and discounts to enhance their experience.

Establishing Long-Term Success

The achievement of your crowdfunding campaign lays the groundwork for your sustained success. Harness the momentum from the campaign to propel your project forward. With a loyal supporter base in place, it's crucial to deliver a product or service that meets their expectations and strives for ongoing enhancement. Ensure you have a strategy in place for sustained growth, whether it involves project expansion, entering new markets, or meticulous financial planning for the future.