5 Ideas to Close Your Crowdfunding Campaign Strong
My friend Padmini from India needed to raise $10,000 USD to jumpstart her new venture in the Arctic about climate change solutions. She asked me for crowdfunding advice.
She blew past her goal and successfully raised over $11,000 like a true Boss Babe. 3 days before her campaign closed, she was at $9,300 out of her $10,000 goal. We brainstormed ways to blow past her goals. Here are 5 ideas to close your crowdfunding campaign strong.
- Ask for Local Business Support. Cold call or email local businesses. Tell them about your venture, mission, and what this means to you and the local community. People buy into why you’re doing things. If you’re invested in their local community and therefore them, they’re more likely to invest in you too.
- Tell People How Much You’ve Already Raised. This shows friends, family or potential investors that you’re serious. There’s a big difference between saying, “hey, can you just write me a check for all the capital I need to start my venture?” vs. showing with results that you’ve done your fair share of hustle.
- Post Live Social Media Videos. I saw real-time results every time I posted a live video of myself. If you’re anything like me, it’s awkward. To put yourself out there and speak about yourself, your product, service or project and ask for support. It’s scary putting yourself in a vulnerable position by exposing yourself like that. But, just get over it. We gotta push past our comfort zones if we’re going to grow as individuals. And if we want to grow our businesses.
- Create Urgency with Incentives. If you’re almost fully funded, incentivize those who are on the fence. Many supporters will say, “I’ll pledge later”. Well, how many times have you said you’ll do something later then forgot? It’s natural. Everyone’s busy. Incentivize taking action now. Perhaps that’s with a special discount or name recognization on your next e-newsletter or throwing in a special gift. Every backer counts.
- Direct Message Friends and Tell Them How They Are Making a Huge Difference. We all want to feel like we’re making a positive impact. So tell people how much this really does mean to you! How much they are making an impact on your life. Put your heart in it and let it show. Nothing beats sending a direct message to potential supporters and personalizing it. Yes, it’s a lot of work but how bad do you want it?
If you ever ran a crowdfunding campaign to launch your dream business, we’d love to hear what worked for you in the comments below. You never know the lives you may be changing by sharing your wisdom.