By working just like crowdfunding students, we have interviewed, researched with campaigns for the goal of crowdfunding, as part of Reality. During this, we tried our best to analyze the campaigns in order to find out the structure of these crowdfunding campaigns from beginning till end. Below 9 stages are discussed in detail to the success of crowdfunding that we find out during our research journey.
1: Making of business model:
Crowdfunding campaigns include 4-6 months for pre-launch activities. That increases the success probability of this campaign because there is no assurance of success for this. For this as startup, there must be a business plan which should be viewable. Startitup.co site is beneficial to launch start up and help in early validation.
2: Safe intellectual property:
If you are introducing any new service process or product then first secure the intellectual property related to your product which will integrate the business structure, logos etc. you can estimate the cost required to do so. You can at least save the patients for one year to get least level of safety.
3: Develop a strategy for social media:
Now, it is the time to leverage the benefits of social media in order to increase your crowd and can make and build relationship with new clients. First get information about your stock then work to know other resources through which you can increase your traffic.
4: Now develop a PR strategy:
Public relation is just like mystery and is difficult to measure its ROI. Make a story to tell the benefits related to product to you target customers. By making a story, then move towards media kit which make easier for the journalist to write an article on it. This will help you write review about the product.
5: Campaign strategy:
Making an effective strategy for campaign is necessary because this is the point where you determine that where you spent your strategic time. Basic purpose of Pre-planning and activities before launching is to attract 30% of goal for funding within 1st week in which you launch. Increase in numbers is required within 48 hours of launch.
6: Team building and networking:
Here you may think that there is a lot to do. But there is no need to fear, if you have completed your legwork. Crowdfunding is actually finding of people to make a network who ultimately join your team and it is necessary for success, especially if you have larger goal.
7: Development of website:
During running campaign, your website will take almost three forms. During Pre-launching time of your site, you may collect emails from subscribers and will act as basic site to implement newsletter. During launch, you may wish to leverage your traffic that you maintain and then re-direct it towards crowd funding team. Then after ending campaigns, you have to transform it to e-commerce site to sell your product.
8: Video and profile making:
Make some effort to make video and profile that can see by potential backers. Its importance can’t ignore. It tells about product, working of behind screen, work journey and much more. Video should not longer than 3-4 minutes to create interest for whole time. See the feedback create through video and profile.
Nine stage is sometimes most important. You have made the promises based on these various monetary tiers and it is very much essential to fulfill these promises and rewards, if you have made a successful attempt.