Beware the Crowdfunding Trap

Posted: Mon, 03 December 2012 by Michelle

You might think your crowdfunding project is jaw-droppingly exciting, a sure fire success, and the answer to all your dreams – it’s your project, of course you love it.

But you need to remember that old adage “beauty is in the eye of the beholder”. In this case, you’re beholding, and the beauty will most probably be biased.

So try to take a look at it through the eyes of a backer and consider this; how well do you tell your story of what it is you’re doing? Will people “get” why it matters? How well do you describe the journey you want your backers to join you on? Will they understand what you’re asking of them? Are your rewards exciting? Are they unique?

And then ask yourself; so what? If it weren’t your idea or your cause, would you back it? Would you tell your friends? Would you shout from the rooftops that everyone should be making a promise to this amazing project?

Be honest. Be harshly critical. And be prepared to scratch what you’ve got and start again.

Here’s a checklist against which to benchmark your project:

Your goal – is it clear and obtainable within a proper timeframe?

Your project tagline – is your tagline 120 characters or fewer and URL/SEO friendly?

Your description – does the short description grab attention and compel viewers to click through to your project? Does the long description tell a fascinating story and keep interest right to the end?

Your rewards – are they desirable? Are they varied enough, both in value and content? And is there a unique aspect, something only backers of your project can have?

Your target – how much do you need? Have you explained what you will spend it on and how you will spend any money over and above your target?

Your team – can you deliver? Are you happy that you/your team (obviously featured in your long description) can meet your goals, deliver the rewards you have promised, and go on to deliver on your business objectives?

Your call to action – do you have one? Have you made sure it’s clear, simple and provided all the necessary links to make it easy for backers?

And finally, an incredibly important question …

Does it make you proud?

Is it compelling, will it make a difference, will your backers want to join you on your journey?

If your answer is a resounding YES to ALL of these criteria, then we think you’re good to go. Otherwise, give us a shout – we’re here to help.

(images courtesy of http://www.responsys.com and http://extension.entm.purdue.edu)