Crowdfunding has emerged as the most popular fundraising method in the past decade. Well, when you consider the pros of it, it is surely worth a shot. I mean, you have a legitimate idea, good management, and attractive presentation, you got your bucks! In fact, all you need to do is just do it right. To help you do it the right way, let us understand the crowdfunding process in detail.
#Step 1 – Get the Idea Clear
If you are looking for the crowdfunding process, you surely have a plan in mind. You want to crowdfund an idea of yours. But make it clear first. Clear as a crystal. And not just clear, but even make it tangible and understandable. That is the one kickstart for your crowdfunding process.
#Step 2 – Materialize the Idea
The next step in the crowdfunding process is to materialize your idea. Once you have the idea clear, you need it convert it into a form that is visible. For example – If you are planning to crowdfund for a product, you can probably make a sample for the product. If not, you can at least define the idea clearly and with details.
#Step 3 – Find the Right Platform
After you are done with your idea, you need to find the platform as well. Now, today if you look into the market, you can literally find a hundred websites for crowdfunding. But not all are meant for you. Here you need to filter. You need to find the platform which is just perfect for your project.
#Step 4 – Marketing
Now the marketing step surely comes before the “campaign launch” in a good crowdfunding process. This is because marketing is going to help you make it all popular. And once people are familiar with your idea, concept, and name, the chances are higher that your campaign will be successful. To be honest, this is the most crucial step in the crowdfunding process. If this goes right, the campaign is a success.
#Step 5 (i) – Campaign Launch
The campaign launch is seriously the riskiest step in the complete crowdfunding process. It is like the result day of your exams. This step will decide the fate of your campaign. Now here, you not just have to raise funds, but also continue the marketing and publicity. This would give that extra help to your campaign. And it will be a huge success.
#Step 5 (ii) – Feedback
Campaign and Feedback are completely co-related in the crowdfunding process. Feedback gives the direction to your campaign. You get to know what you are doing right and what is going wrong. Thus, never miss this step in the crowdfunding process. Always ensure to get feedback from your audience and potential backers. This way your campaign would just never go wrong.
#Step 6 – Followup
This is a step in the crowdfunding process that most people forget after the success of their project. Your backers have trusted you with their money. They are hoping that you would use it for a good purpose. Thus, it is your duty to keep them updated with the progress of your project.
