How to hit the ideal goal in crowdfunding, top 8 things you should know

Crowdfunding has gradually become a popular way helping those creators who have the boldest design and funniest idea. Following these 8 tips can help you reduce the risk of failure.


December 5, 2019

When you have a creative idea in mind, how to realize it? Crowdfunding may make your dream a reality. Crowdfunding has gradually become a popular way helping those creators who have the boldest design and funniest idea. But not all of these campaigns do well. Many have failed to raise what they asked for and hit their ideal goal. Even big projects which seemed well-planned and advertised have failed.

If you want your campaign to avoid a similar fate, the following tips can help you reduce the risk of failure.

1. Re-examine your idea

Re-examine your idea before issuing a campaign and ask yourself whether you really want to bring this idea into the world. If you’ve got a hot head, you’re not going to be thinking straight. Hot head never solves anything.

Show your determined attitude that proves you actually put some thought into the idea, which helps prove the credibility of your project and attracts backers to pay attention to your project.

2. Identify your target audience

Your product is the most important element in your campaign because that’s what you exchange for financial support from your backers. Identify your target audience will be your first step to success. You should know what your target audience wants and what key features they interested in when they decide to pledge a project.

3. Choose a right platform

There are a lot of different crowdfunding platforms and each of them has its own specialty. Consider your project features and do research in advance to find the most suitable platform. The right platform will help you achieve your goal more quickly. Besides, the traffic on some big platforms will help you increase the heat of your project to attract more attention.

4. Set great reward

Great rewards also play a vital role in crowdfunding. Try your best to make the rewards worthwhile, fair price and reasonable rewards will leave backers a good impression.

5. Promote your campaign

A successful campaign definitely needs more attention. Once you've published your crowdfunding campaign, start spreading the message to the world. Reach out to the media and bloggers to get coverage for your campaign. Post your campaign on social media and even share it with your family and friends. The wider your reach, the more potential you have for backers to see it.

6. Keep communication smoothly

Smooth communication will build good trust between you and your backers. Try to keep the whole process open and transparent. Crowdfunding will take a long time to implement, the trust will make the connection between you and backers closely and firmly.

7. Listen to feedback modestly

Getting that feedback is essential to making any necessary improvements before launching a campaign. There is no doubt that you have a good project, but it doesn't mean that you can't fulfill it even better with much more improvement. Some suggestions from backers should be adopted.

8. Fulfill your promise

When you reach your funding goal, it is time to fulfill your promise. The achieving of your funding goal doesn't mean the end of your campaign, production and fulfillment are also of primary importance. If you show your sincerity to your backers, they'll be more willing to trust you.

Although there is a lot of work to do to hit your ideal goal in crowdfunding, you may reach and even exceed your funding goal if you follow the tips listed above.

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