It’s Open Design Cape Town! Thundafund snatched a spot to chat about crowdfunding alongside Anthony of Honest Chocolate – soon to be a crowdfunded Chocolate Cafe! – and Marwaan Sasman of Pigeon Pie.
Raising the crowd, raising the capital? Some success snippets:
Plan ahead –
- Crowdfunding starts long before the campaign launches. Being prepared results in more success and less stress.
- “The advantage of #crowdfunding is the direct control of your idea | brand | community building… It’s YOUR story.” – @MrPigeonPie
- “The biggest mistake you will make it thinking you will just go public. Plan ahead, build networks, connect with others…” – @MrPigeonPie
Build a Creative Reward Structure –
- “Are your rewards worth paying for? Are backers getting bang for their buck? Exclusive? Unique? Crazy? Capture imagination?” – @HonestChoc
- People are more willing to contribute to your crowdfunding campaign when you offer them items of real value and interest and you’ve structured your Milestone tiers correctly… #Kaching!
- “When thinking about your rewards, go crazy at 1st & then see what friends | family | market would be willing to purchase.” – @HonestChoc
Social Media is key –
- Successful crowdfunding through social media requires planning, dedication and determination.
- Having up-to-date profiles and building followers before you launch is even more important. A typical crowdfunding campaign lasts only 30 to 60 days, making it a little too late to try to build a following on social media during the campaign.
- Be sure to respond to and interact with each and every person who engages with you on social media. Social media works when people feel a connection.
Be prepared –
- “Think smart. Have a strategy, have a plan, create a schedule. Who are you targeting? When & what will you post? Events to reach out at?” – @Thundafund
- “When telling your story | posting to social media, think of it as a love letter to your community… What would you like?” – @MrPigeonPie
- “We can’t stress enough that people forget. Remind them, engage with them, follow-up with them. Consistent communication is key.” – @HonestChoc
- Have an event during your campaign, such as Honest Chocolate’s 1st Thursday, Labia Launch and Walk For Whiplash.
- “Feel your market is inaccessible? Connect with people who could extend your exposure more. @HonestChoc & #FirstThursday.” – @MrPigeonPie
- Think of creative ways to connect, like you can come but you’ve got to tweet us first! 😉
Patrick Schofield, Andrea Morgan, Anthony Gird, Lunda Wright and Marwaan Sasman.