Crowdfunding Success is not a Cakewalk

“A successful campaign takes plenty of advance planning as well as constant involvement along the way to keep backers happy and new supporters joining on. A halfhearted effort could not only make a cash drive stall out, it also could do lasting damage to an entrepreneur’s standing with customers and potential investors down the road.” Caitlin Huston, The Wall Street Journal

I encourage everyone to read the full article. It’s very informative. Then read it again.  And then re-read the article several times per week as you manage your crowdfunding project.

Long story short; adopting a “set it and forget it” approach to a crowdfunding campaign is never a good idea.

Nobody should be under the illusion that they just have to set up their campaign and tell their story then slap up a few pictures and a video along with some crowdfunding perks and just wait for the cash to start pouring in.

With more than half of all crowdfunding projects failing to reach their funding goal and an ever-increasing competitive marketplace where more and more crowdfunding projects enter the picture on a daily basis, preparation and planning can give you a decisive edge.

The WSJ article I cited above does an excellent job outlining just some of the critical steps needed to run an effective crowdfunding project. Other critical components include ongoing and daily marketing and promotion of your crowdfunding project, social media outreach and an effective PR campaign to reach the members of the established media.

Then rinse and repeat.