crowdfunding,ireland

How to have a successful Crowdfunding campaign in Ireland

Posted on Posted in Funding

This blog is a continuation of crowdfunding and presents some of the tips to ensure a successful crowdfunding campaign in Ireland.

Few tips are crowdfunding campaign in Ireland :-

  1. Strategic Social Media Campaign

It is helpful to think about backers and pick the network to match the marketing and content strategies to supporters of the project. Customization helps to suit each platform to connect with the network and give regular updates .Send out tailored messages and be as personal as possible. According to Kickstarter, it is helpful to reach out to anyone who would be supportive during pre-launch to create a 20% benchmark after launch and follow up individually. Create a helpful media page to generate as much press and support the media enquiries.

Create a helpful media page to generate as much press and support the media inquiries.

  1. Produce a Great Video Clip

70% of a successful campaign have a video clip. It gives the visitors of the site a better idea of a project. They should be good quality given time, resources and expertise.

  1. Convey Benefits Before Asking For Money

Tell a compelling story and share enthusiasm to attract people’s support. Building interest in closing the deal conveys the message that the project is fully though out and the creator knows what they are doing. Backers invest in return for something rewarding. As suggested by Kickstarter, offer lots of smaller rewards with most popular pledge amount to be $25 and average pledge at $70. Therefore have rewards to please the backers who cannot afford steeper pledges.

  1. Proper Business Plan

A realistic plan and goal of the crowdfunding campaign are essential. Do as much research as possible and dedicate a planning period of 3 to 4 months before the launch. Managing budget is as important as raising capital. According to Scott Purcell, author of The Definitive Guide to Equity Debt and Crowd Funding, pre-raising 5% – 35% of your goal prior to launch gives a success of 80% to 100%. This helps to promote the campaign from the first day. Big goals projects usually have a big marketing budget to make it appear as a project gone viral. Therefore, a creator has to be creative to aim to get 6:1 return on advert spend.  To ensure there is enough to fund the project it is helpful to add charges to the required funding goal.

  1. Work Hard

The success of any campaign is directly related to the amount of hard work which is put in by the creator. Right from prelaunch, a creator has to invest time and effort to make a campaign achieve its funding goal. Challenges faced are daunting and must be addressed early on. Also, seeking help from a person who has been through the process is beneficial.

Hopefully, these tips can help in increasing the success of a campaign to reach the funding goals of a company. It requires a lot of hard work and planning with clear objectives and an emotional connection with public.

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