How to: Crowdfunding

Want to launch a new business on Kickstarter or Indiegogo? You're not alone. With inspirational crowdfunding success stories piling up, it's no wonder more and more starry-eyed entrepreneurs are looking towards crowdfunding to finance their next "big idea."

Why Crowdfunding?

One major reason why crowdfunding has become the go-to choice for many individuals is that it gives you access to a large pool of investors. There are also other benefits of crowdfunding, such as:

Investor Reach

Through crowdfunding platforms such as Indiegogo, Kickstarter, and the like, would-be entrepreneurs can reach out to thousands of investors via social media, increasing their chances of getting the funds they need for their new business venture.

Customer Experience

Entrepreneurs have the opportunity to share and promote their fundraising campaign with the help of email newsletters, social media, and online forums. They can use these platforms to communicate and get their message across to their audience.

The Strategies that Work

When it comes to crowdfunding, the strategies you use can make or break your campaign. The success of your campaign will depend on carving out a thoughtful campaign strategy that will coax potential investors into believing in your product and making a contribution.

Build an Audience

Needless to say, the success of your crowdfunding campaign mainly depends on how many eyeballs you can reach. This is where community building comes in. For instance, if you were offering a new eco-friendly water bottle, your core audience would be:

• Gym subscribers
• Athletes
• Marathon runners
• Local gyms
• Social media influencers
• Physical therapists

Ready to Launch Your Campaign?

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How Long Should You Spend Preparing a Crowdfunding Campaign?

The work that decides your outcome happens before launch day, not after it. Give yourself enough runway to build an email list, line up your audience, and prepare your page, since campaigns that arrive with momentum tend to outperform ones that start cold. A focused pre-launch phase is where you turn strangers into people ready to pledge the moment you go live.

Setting a Funding Goal You Can Actually Hit

Set your funding goal at the real minimum you need to deliver, not your dream number. A lower, achievable goal builds early momentum and social proof, which encourages more backers to join once they see the project gaining traction. You can always aim higher with stretch goals after you have cleared the line that matters most.

Frequently Asked Questions

Why choose crowdfunding to fund a new business?

Crowdfunding gives you access to a large pool of investors you would not reach otherwise. Through platforms like Kickstarter and Indiegogo, you can put your idea in front of thousands of potential backers via social media.

Which crowdfunding platform should I use, Kickstarter or Indiegogo?

Both Kickstarter and Indiegogo let you reach thousands of backers and share your campaign across email, social media, and online forums. The right fit depends on your product and audience, so pick the platform where your core backers already spend their time.

What makes a crowdfunding campaign succeed?

Success comes down to a thoughtful campaign strategy that gets potential investors to believe in your product and contribute. The strategies you choose really can make or break the campaign.

How do I build an audience before launching a crowdfunding campaign?

Your success depends on how many of the right eyeballs you can reach, so community building comes first. Map out your core audience early, for an eco-friendly water bottle that might be gym subscribers, athletes, marathon runners, local gyms, social media influencers, and physical therapists.

Can crowdfunding improve my customer experience, not just my funding?

Yes. Running a campaign lets you share and promote your project through email newsletters, social media, and online forums, which builds a direct line to your audience. That ongoing communication turns backers into a community around your product.