Crowdfunding – What Gives?

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:

Open Design Cape Town

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

Exposure –

Open Design Cape Town PanelPatrick Schofield, Andrea Morgan, Anthony Gird, Lunda Wright and Marwaan Sasman.

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