The Crowdfunding Channel

The Proposal

The audience you’re speaking to is of paramount importance here. And for that, it is crucial that you have good incentives, rewards and perks. In order to draft a realistic proposal, do exhaustive research into the segment you’re targeting, interest rates by competitors, etc. In addition to the rewards you’re advertising, you will need to prepare a pitch where your potential investors can get all the details – e.g. your timeline for the project, the business’s target group, expenses and a forecast for budgets. Being completely honest about your plan, will help your investors decide more carefully and faster, and will probably appreciate the transparency and publicise your work to other clients.

The Plan

Going by the nature of this project – it is inherently ‘team work’. Therefore, you need to connect rigorously with the crowd. This will entail a marketing and communication plan, with details like a strategy mapped out, staff profiles, their area of expertise within the project and PR stories for the press. You can use any channel of communication for creating the requisite buzz for your campaign – online, offline or traditional. Think of this plan as a daily diary that you’ll need to keep updating for the ‘crowd’ who are so heavily invested in your campaign.

The Crowdfunding Channel

Once the groundwork is done, it’s time to go online with your campaign. There are several ways to go about doing this. You can either create your own site, with payment and crowdfunding tools. Or you could register with one of the many crowdfunding online platforms out there – the kind of crowdfunding you decide to go with, will determine the platform you are most suited for. Registering with any of the crowdfunding platforms is easy, but do read the rules and do as they say. Or they might blacklist you.

Follow Up after the Campaign

Once your campaign is over, get ready to finally launch or start production on your project. Remember to update your investors and clients – they saw you through the hard times and they deserve to know all the details once your campaign is up and running.