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10 Tips For Running A Successful Crowd Funding Campaign

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Chris Herbert

Written by: Chris Herbert, Co-founder and CEO of TrackR

– TrackR raised over $2,000,000 on Indiegogo –

After working for months to years on your great idea, it’s time to bring it to market. But where is that money for manufacturing and sales support going to come from? With the advent of crowd funding, entrepreneurs have more access to capital than ever before but there is a lot more to crowd funding than just making a great video and page. Here is what I learned from 4 successful campaigns and raising over $2M in crowd funding:

1) Have a real prototype

This is a must for launching your crowd funding campaign and I don’t mean just a piece of plastic that your end product will look like. You should have a functional prototype to prove the technical feasibility to your backers and yourself. As press and the public become more savvy to vaporware crowd funders, it’s essential to show that you have the goods.


2) Don’t blow your budget on the video

A lot of campaigns spend a lot of money on the video but this is not necessary. It’s much more important to focus on having a clear and compelling pitch on the video rather than focusing on make the video seem “cool”.

Related: Bynder – Branding Automation, Designed To Build, Manage And Scale Brands Globally

3) Focus on distribution

Focus on how people are going to find out about your campaign. It’s a good practice to map out exactly how the first 100 backers are going to find out about your campaign then map out how the next 1000 backers will find out about your campaign. It’s important to understand what will be the key assumptions your team is making about the crowd funding campaign.

4) Make sure the price is right

Don’t just randomly price your perks but make sure you are pricing to consumer demand and your prices will maximize the revenue for each backer.


5) Add Upsells

Finding new backers is hard during a campaign but selling more to your existing backers is a much better path to success and enables your backers to invest even more in your project thus even more likely to tell their friends.

Related: Greentoe Changes The Way People Shop By Enabling Consumers To Negotiate Online

6) Update Me!

Plan out daily updates during your campaign and plan out in advance plenty of content. Backers want to hear from you and be involved in the process.


7) Customer Q&A

Expect a lot of inbound comments and questions during your campaign. Make sure that you put into place a basic email ticket system like Zendesk so you can handle every customer question that comes your way. Your responsiveness to their questions will pay off.

Related: BirdEye Closes The Loop Between Reputation Management And Customer Experience

8) Give people a deal

One great way to make sure people talk about your campaign is giving out a deal. People love to talk about great products that they just got an exclusive deal on. Give your backers a deal they can tell their friends about.


9) Referrals are key

Every campaign should have a strong referral program where you reward your backers you invite their friends to the campaign with free perk upgrades, free product, and more.


10) Set the target right

Success brings more success. Set a target goal that you can hit within the first 24 hours. This gives the campaign a feeling of success and will help sustain momentum throughout the crowd funding campaign.

Last Updated on June 27, 2016

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