3 Secrets to Successful Crowdfunding

flying_moneyAs I advise all clients there are no miracles to successful crowd funding. There are 3 basic concepts to successful campaigns.

1) Quid Pro Quo Pre-Sale
2) Social Capital Gut Check
3) Global Impact to the Heart

1) Quid Pro Quo Pre-Sale:
The most successful crowd-funding campaigns are basically “Pre-Sale” items. Bluetooth Watches that sync to your iphone, video game sequels that the parent company feels does not meet their P&L, or some other kind of physical good that is so unique that the relatively low price works as an acceptable risk for the scarcity and possible deficiency of the initial quality a never produced item may have. (Minimum Working Prototype)

2) Social Capital Gut Check
The next most successful campaigns are ones that are still unique, but are being created by individuals whom have enough friends and fans that believe that this project’s time has come, but that the individual has the Surface Credibility to make it a success. I say Surface Credibility in that on the crowd funding page, through drawings, video, and other graphics or animations it clearly shows their superior expertise. Their groundswell of 1,000’s of friends get the ball rolling, but their “Credibility” gets enhanced by pairing of their friends initial financial support with the surface credibility of their apparent immense talent. (Minimum 10,000 email contacts)

3) Global Impact to the Heart
Finally, there are campaigns that have a unique, never seen, never heard of touching and emotional “Ask” that is so believable and real that not giving a small or medium donation seems like a crime. These are the hardest, most arduous journeys of all, as almost everyone has asked for nearly everything for someone once on the internet. These can be getting a new heart pump for a veteran, a row of plants for traffic freeway signs, or some other goodwill project. But again, the first two Social Capital and Quid pro are tied innately to this. As just giving money to someone for their heart pump, will still need other friends, or a unique gift to really get this kind of project going.. (Minimum: 2 Minute Video that makes strangers cry or yell at screen)

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If you feel you have at least one, but preferably 2-3 of the above mentioned qualities, then whether or not we can help you, you should move forward. If not, then I will recommend what I have recommended to other international organizations big and small. Improve your product, and “Bake in Social” into your services or products so the current crowd of customers does the work that you were hoping that crowd-funding was going to do..

Best,

Chris K

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The Content Manager is the person responsible for the articles, posts, and links about crowdfunding and social media at large.

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