There are many factors that spell success or mean certain death for a crowdfunding campaign. In several instances we’ve noticed that one stage in particular plays a pivotal part in the end result of the crowdfunding campaign. There is no denying the fact that the entire duration of the project is extremely important for project owners. However, the strategies implemented by crowdfunding project managers during the first seven days of the project can make all the difference. Many crowdfunding projects make or break their fortune during this phase. This is why a good start to any crowdfunding project is half the battle won.
Many crowdfunding projects are launched with the unrealistic expectation that their idea guarantees crowdfunding success. Too often first-time crowdfunders feel their crowdfunding campaign is too good to fail. A natural extension of this assumption extends to the crowdfunder expecting that people will find their crowdfunding project, take out their wallet and back the crowdfunding campaign on the spot. Unfortunately this is simply not true and a very far departure from reality. To be quite frank, the failure rate of a crowdfunding campaign is very high. In fact more than half of all crowdfunding projects fail. One way to beat the trend and find your way to crowdfunding success is to build up momentum for your project straight from DAY ONE. As a professional crowdfunding consulting company, we have seen that most of the successful crowdfunding campaigns had an extremely impressive first week. As we’ve said before on this crowdfunding blog, the process of building the foundation for a successful campaign can and should start months before the project’s launch.
We suggest that all of our clients not to make the mistake of leaving too much to do for the later stages of the crowdfunding campaign. In order to maximize your project’s performance during the first seven days, start building your list of influencers and contacting journalists well before the planned launch of the campaign. By building a strong online presence before launching the campaign, it is possible to bring in lots of pledges immediately after the campaign launches.
How does this happen?
Start your campaign with a flurry of activities. Act as if you only have a week to reach your crowdfunding goal. Recruit friends and family members to help out and back your campaign during that critical first week. If you have already built rapport with different bloggers, ask them to blog about your venture immediately after the project goes live. Ideally, for a 30-45 day long campaign, you should shoot for anywhere between 30% and 50% of your funding goal within the first week. Once you have built early momentum, it will be much easier for you to entice the general public to support your cause.
As with most things in life, this is easier said than done. However, this is something that you must do in order to stand apart from hundreds of campaigns that are launched every day that never make any impact at all. A strong start will make more people interested in your campaign because no one likes to contribute to a lost cause.
Otherwise stated, everybody wants to pick the winning team.
CrowdfundBuzz is a team of experts with a wealth of experience in building the most amazing crowdfunding success stories. Our comprehensive crowdfunding services can be a life saver. If you’re finding it difficult to keep up with the demands of managing your project you should contact us today and let us help you turn your dreams into reality.