Crowdfunding is built upon the idea of
crowdsourcing: “the act of outsourcing task, traditionally performed by an
employee or contractor, to an undefined, large group of people or community through
an open call.” (source: www.socialmediaexaminer.com)
Crowdfunding seeks to appeal to
individuals, potential investors or community whom are unrelated to fund a
project, business or cause, usually via networking/promotion of your project.
Here are some tips to get your project
crowdfunded:
• Choose the right crowdfunding site
Local or regional crowdfunding sites
could be your starting point to seek funding before exploring international
sources.
Below are some crowdsourcing sites in
Nigeria:
- The Next Economy: https://next-economy.com/en/
- Naija Fund: https://www.naijafund.com/
Other international crowdsourcing sites includes:
- Kickstarter – (funding is mainly
for creative, films, comics, music): https://www.kickstarter.com/
To fund your projects, you most
know your target audience.
– Know your target audience(s): Identify your target audiences, investors/donors or
people that can support with funding, focusing on a passionate niche can help.
Many of the successful projects on crowdfunding sites target a specific, narrow
audience. The target audience might be focused in a geographic area, religious
in nature or people that you share a common background.
• Plan ahead
It is important to have a good and
convincing plan. You might be called-up
at anytime for an interview to examine the genuineness of your project before initiating
the process of crowd funding
• Passionately pitch your project
In most situation you only get one chance
to make a first impression and it is even tougher on popular crowdfunding sites
where there are several other projects simultaneously trying to make a first
impression on the same page.
Create a compelling name, description
and an image as part of your project to help you stand out. A video is
critical, too.
• Prepare a plan for spending money being raised
To build credibility during your
interview, you can give a detailed explanation of how exactly you will be using
their money and keep all costs transparent.
No matter how cool your idea is, most
people want to know that you have a plan that will get you there.
• Leverage your social networks
It is important to realize that most
of your audience may not be familiar with crowdfunding. Chances are you will
need to use social media, e-mail marketing and other communication tools to
drive your community to your project at a crowdfunding site.
• Break-up bigger projects
Be alittle conservative in your
approach because funds have to be dispersed across projects since you are not
the only one seeking funds. Your potential patrons are not likely to give huge
sum
Begin your project from somewhere and
then take it further through the next step by taking it to the next level. Smaller
requests seem more attainable and people want to feel like they are on a
winning team.
• Create compelling recognition
Endeavour to reachout to those who have
supported your cause if they would not mind you mentioning their names or
pictures. This can endear more supports from other corners to drive funding
experience and memory.
• Treat your crowdfunding like a
campaign
Every aspect of the sourcing funds
should be treated as if you are pitching a project, because it is the
beginning, not the end, of your work. You need to drive people to your project
page.
-Tell a great story: Great stories
helps you to connect with your potential audience and to attracting their
supports.
Whatever your project could be, simply
do extensive research of the websites and their requirements either for local or international crowd sourcing platforms.
Remember; keep YEARNING for your
aspirations.
For more contributions/feedbacks
on the topics,
kindly visit our website on:
or email on: yearnng@gmail.com
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