It’s not a new concept! Memorials and worship places have been funded and built in by small donations for years. In the recent years Indian startup story has witnessed more twists than before. If you are also a part of this startup story, crowdfunding can be the way of connecting investors and bring your story to life.

Here’s that how does it work?

Selecting the project and building a story

Launching a new product or starting a campaign should be specific with a perceived outcome. Your campaign should be time bound. Try to make a complete story that would appeal people to contribute in your product. Make them understand why your project is unique and what problem you are solving that will compel your potential backers to fund you.

Mount a funding budget

Set up a specific budget you need and be clear where it will go. Be precise about meeting up your targets as it allows the investors to know the licitness and credibility of your project. It shows that people have been interested in backing up your project,

The budget should include the commission fees of your crowdfunding platform and the reward budget.

Choosing a Platform

It is the one of the most important and crucial step in launching your crowdfunding campaign. It depends upon what type of project you are launching and what your goals are. There are loads of platforms to decide from such as Milaap, Indigogo, Catapooolt etc. which offers you a good stuff of audience.  You need to decide between:-

Reward and donations based – Offering ‘rewards’ and perks for your backers is always good. You could give them gifts and perks based on how much contribution people pledge.

‘All or nothing’ or ‘Keep it all’- Some platforms keep the rule of ‘ All or nothing ‘ where if you don’t meet your target you will have nothing. And platform like Catapooolt offers you to get all the money minus their fees, even if you fail to meet your target.

Prepare a pitch and promote your campaign

Prepare an overwhelming pitch about your campaign telling who you are ,what’s your idea, why you started that will revoke the interest of your potential pledgers. Have an impressive pitch video catering a personalized strife to the viewers. You have to make people informed about your crowdfunding campaign. Create a coordinated online social media campaign with the help of your crowdfunding platform. Reach out to media and people to have more coverage to your campaign. Encourage them to back up your campaign by hosting an event or through any other engagement. It is not easy to arouse people’s interest unless you give your full commitment to your campaign. Be passionate enough to turn your dream into reality.

Follow Feedback

It is your backers which helps you to climb the mount. Taking your customers feedback seriously is really significant. Getting reviews and making improvements is essential before launching the campaign. Keep in touch with your supporters and keep them modemised about your progress. Thanks them and let them feel that their contribution is making a difference.

Its time to capitalize your venture and let your business grow through crowdfunding. The arise of crowdfunding has provided an alternative to traditional ways of funding. It is an effective way to help entrepreneurs in reaching their dreams. The increasing social media trends inculcates perfect conditions for crowdfunding as a fundraising tool to prosper in the capital market. So fund your project and go crowd out loud!

The post What is Crowdfunding and how does it work? appeared first on Desiredwings.

Don’t tell me you wouldn’t want to get your hands on a mystery letter if you had a chance. Are you that sane? That pretty hands? I hope not. Mysterious Letters thinks the same. I mean the bunch is crazy. Crazy enough to change the world. This is how they rewarded their backers on their Kickstarter campaign launched in 2009. It is ugly, it is insane but it is beautiful. If you are anything like me, you would not want to miss on their letters.

Pledge $24 or more: You will receive a unique hand-written postcard composed whilst we were sober, clear-headed and utterly focused on the task.

Pledge $25 or more: You will receive a unique hand-scrawled postcard written while we were drunk, which we’ll regret horribly by the time it arrives.

©Mysterious Letters

Now, don’t you think that is some awesome marketing hack? I believe it is one. Some of the rewards on your campaign must give an adrenaline rush to the backer. Isn’t that what we all miss and crave for? Give it to them. Give it to them right away.

Here are few crazy, sick, sober and killer reward ideas that you can experiment with. I insist. No? Ok, never mind. I am stubborn. You, do it.

1. Let your backers get involved and have a say in the outcome of your product.

If you are working on a product, send them a spare or broken part of it as an acknowledgement of their participation and support, throughout the product journey. Share the ups and downs of your struggle. This way you will pave a path for them to emotionally invest in your product and they would be eagerly waiting forward to your updates. In short, give them an experience of ownership and by then you would have added some of the most loyal customer, friends, bloggers and evangelist in your circle who would be more than happy to share your crowdfunding campaign on their facebook or twitter profiles.

You can invite your premium backers for a visit to your office, for a meal or a coffee with your team and make them feel special. Try to make it an experience which they would love to share with their friends and family.

2. Let them flaunt that cool beanie you will customize especially for them.

©Cross RodAce

Show your love by spoiling them with some wearable art craft, headwear, mugs or Bobblehead dolls. Do you want me to vouch for Bobblehead?

Want to make it even more special? How about wearing a T-shirt with their face or a caricature on it during your campaign launch or a related photoshoot?

©Tiki Shark

3. Give a literal shout out to your awesome backers at the launch party or on social media.

Represent them as a part of your team. Follow them on Twitter and Instagram. Give them the credit for their support.

4. Share your 101 expert tips and tricks or organise an online workshop for the same.

©Everything Sherlock

Now, this could be anything from growth hacking tips to Ukulele lessons. You can also share code keys so your backers can hack away.

5. Scavenger hunt! Sounds good?

Why not organize one for the backers in your city? Set the rules for finding rewards, meeting the creators, and then having a kickass party at the end!

6. You can send handwritten postcards from rest stops on your tour.

©maplepostblog

Suppose if you are going for cross country concert trip or to raise funds for a cause, you can always send personalised handwritten postcards to your backers from the rest stops on your tour.

7. Throw a surprise party.

©Green Hat Films

You can go for a house party with some unique theme. Throw a pizza or taco party for your premium backers. This is it. You gotta do it.

8. Customised memes for the backer’s pet.

©Green Hat Films

You can create a set of personalized memes of a backer’ pet. You can also experiment with instant polaroid shot images for them. An instant photoshoot. Won’t that be adorable? They will love you for making things so special for their loved ones.

9. Make them Personalised Infographics.

©adioma

You can create a scintillating infographic, especially designed on the timeline of the backer. Here is what Anna Vital, founder of Adioma and Information Designer did.

10. Backstage passes.

©Merchsupply

Who would want to miss an opportunity to meet the artists in person and party with them? Backstage passes are the real deal.

So these were few killer reward ideas to get your backers kill that pledge button. I am planning to make one more list, so don’t forget to share your ideas in the comment section. Let your creativity unfold.

The post 10 Killer Reward Ideas To Make Your Next Crowdfunding Campaign A Massive Hit appeared first on Desiredwings.