4 Mistakes That Hurt Your Crowdfunding Campaign
On some of the most popular crowdfunding platforms - such as Kickstarter, Indiegogo, and GoFundMe - less than half of the campaigns hit their funding goal. How do you make sure your crowdfunding campaign isn't a failure? Here are four potential mistakes to avoid.
#1: Starting off too slow
If you want to hit your fundraising goal by the end of the campaign, experts recommend focusing on raising 30 percent of it in the first two or three days. That's what research shows successful campaigns tend to do.
To make sure donors flock, get your inner circle of supporters-friends, parents, siblings and other die-hard fans-to contribute immediately upon the launch, experts say. You have to show there is some interest.
#2: Putting the campaign on autopilot
Many entrepreneurs think that viral crowdfunding campaigns happen on their own. Not so, say experts. Many of the most successful crowdfunders made all-out effort by a start-up's founders or hired professional marketers to do outreach. Don't expect to mobilize bloggers to spread the word on one day's notice if you have not taken the time to cultivate their interest ahead of time...