Keys to being successful in a crowdfunding campaign

Crowdfunding is an alternative form of funding to traditional methods. Although it is in an emerging phase in Spain, it is the star of funding models for projects, especially those based on technology. However, there are many projects that do not get the money to finance their project, so it is important to follow some keys to achieve our purpose, because going on an adventure without prior analysis and design is a big mistake.

• Define our business idea

Being clear about all aspects of our project, such as the characteristics that differentiate it from the competition and its viability, is essential. We cannot convince others to believe in our idea if we are not clear about it ourselves. It is important to define what are the qualities of our product or service and, of course, what profitability will be obtained from them. In addition, our idea must be innovative to attract investors, as well as viable. A plus point is to humanize our project and use the storytelling technique to explain it. The audiovisual format is gaining more and more relevance and it is a good idea to use it in this first step of our campaign.

• Identifying our patron

Let's be clear, our project isn't going to be interesting to everyone, so it's important that we identify our potential investors, those who might be interested in our project, and of course how we're going to get to them, because most likely they won't be waiting for us at the door with open arms.

• Minimum amount of funding

We must bear in mind that crowdfunding has its drawbacks. The first of these is that it consists of all or nothing, so if we don't reach the target funding we won't get anything. Therefore, we must be prudent and set an easy-to-achieve starting figure and try to expand it later.

• Campaign duration

It is a very common mistake to think that the longer our campaign lasts, the more successful we will be. Nothing could be further from the achievement, because every time we have our campaign active it will entail more maintenance and effort. The ideal is to set a duration of between 30 and 60 days.

• Adapted rewards

Not by offering more rewards we will get more benefactors, so the ideal is to establish rewards by degrees, depending on the funding that each one provides us.

• Social Networks: Great Allies

But as long as we use them wisely. Posting a link endlessly won't have a good effect. The best strategy we can follow is to get our investors to act as prescribers, but always with measure.

• The media

Getting some media to talk about our project can be a big push. Contacting the mainstream media is difficult, but we can try our luck with local media and websites specialized in the sector of our project.

• Contact investors

It is important to keep in touch with them, otherwise they could get a bad impression on us and distrust them. We cannot disappear from the map once we have achieved our objective.

• Don't use the word help

We are looking for funding, not raising funds for an NGO, so we should never use this word during a crowdfunding campaign.

• How to choose the platform

There are many platforms that we can choose, and to decide on one of them, we must evaluate 3 fundamental aspects: The commission that they are going to charge us, secure forms of payment and the information and promotion services they offer.

• Gain experience

Nothing better to know what our investors expect than to become one of them for some other project. In addition, it is a way to get investors through reciprocity.

• Highlight our positive points

Highlighting our reputation and achievements, as well as mentioning previous success stories, will help us reduce the perception of investment risk and promote the security of our project. We hope that these keys will be useful for you to carry out your crowdfunding campaign and obtain the necessary funding for your project.