Managing Your Crowdfunding Campaign

Posted: Tue, 17 September 2013 by Cara

by Cara Pleym

We’re previously given advice about preparing for a crowdfunding campaign, however we want to highlight that running a campaign involves a lot of effort, and managing several different tasks at the same time can be difficult. We know that this can sometimes be stressful, and a lot to take on, so we’ve written a short guide to help.  Follow our tips to ensure your campaign runs more smoothly, and that you don’t end up forgetting about things.

Prepare, prepare, prepare

Maintaining interest in your campaign will ideally involve regular promotion, both online and offline, social outreach, blogs, video updates, attending networking events and more! So Step 1 is to encourage as much interest as possible before you launch, so that a) you have less to do when you launch and b) you secure backers in the first few days which builds momentum and reassures strangers. Step 2 is planning for how much time you can dedicate to your crowdfunding campaign each day, and working out what you are going to do when. Remember to take into account that interest typically spikes at the start and end of your campaign, as there is a greater sense of urgency and excitement. Plan more promotion during the middle of your campaign to maintain interest!

Identify your strengths and weaknesses

We all tend to focus on our strengths, and ignore our weaknesses, but it’s very important that you identify any potential problems as early as possible. Not sure how to use Twitter or write a good blog or how to hook backers in? Ask for advice, and work on your weaker areas. When you’re planning your time, remember that if you’re not comfortable doing a task, it will probably take you longer. Please don’t shy away from something just because you’re not sure how – we’re here to help and the more variety you have in your promotion, the better your chances of appealing to different backers.

Ask for help

If you know that you’re going to be particularly busy during a certain day or week, try to get a family member or friend to help you out, so that your crowdfunding campaign doesn’t suffer. Take advantage of their skills too - if you know someone who can write a great blog, or is a social media whiz, ask if they’ll teach you! Every little bit helps you to manage your campaign. On a related note, please do ask your networks to promise money, and actively promote your project – it might feel uncomfortable but everyone needs a hand sometimes!

Be smart with your time

The more you do to promote your crowdfunding campaign the better, but it’s pretty pointless if it’s low quality. Quality not quantity, will lead to more backers so make sure you use your time effectively. For example, blogs and videos are great because it doesn’t take too long and you can reuse and reshare them. If you use HootSuite or Tweetdeck, you can spend an hour scheduling posts for the entire day. Also, try to spread your time out, we recommend at least an hour a day, but don’t invest time and effort in bursts, if you can’t follow up with regular promotion and updates.

Doing all of this won’t be easy, but it’ll be worth it, and your campaign will run more efficiently. Hopefully, it will also encourage more backers and push you ever close to your target! Remember, if you have any questions, you can #askbloom on Twitter or email eva@bloomvc.com

Happy Crowdfunding!

(Image courtesy of myporter.com.au)