Mistakes to avoid in a crowdfunding campaign

crowdfunding campaign

Running a crowdfunding campaign to raise money for a beautiful cause is awesome. But remember, people, don’t just donate on the basis of the cause. There are some certain things they consider before donating money. As a rookie in a crowdfunding campaign, you are most likely to miss those considerable things while running yours. Here in this article, we will shed lights on some of the mistakes you must avoid in a crowdfunding campaign.

Avoid these following mistakes in your crowdfunding campaign

Mistakes that people usually make in a crowdfunding campaign are numerous. But the most common ones can be narrowed down to few. Let’s know all these mistakes mentioned below in order to avoid them in crowdfunding campaign

Choosing wrong platform

It is very important that you decide on the right platform for your crowdfunding campaign. though you will be driving most of the traffic to your campaign yourself, the platform that hosts your campaign on will also help with generating some additional backers. Some Crowdfunders make the mistake by thinking that the platform will generate most of the backers while they will attract the minority of the backers. This is not true and will result in underperformance of your Crowdfunding campaign.

Setting the wrong goals

Some crowdfunding platforms won’t give you a dime if you don’t hit your goal? So if you say you want $100,000 and only raise $6,500, you won’t get any of it rather the money will go back to your donors. Set a realistic target, recognizing that the average crowdfunding campaign raises only $10,000. If you raise more money that’s fine but never risk not getting any of the funds. Read the details on the crowdfunding platform you selected so that you can understand how their payout works.

Offering no rewards

The rewards for your campaign should always be another reason that your backer will want to donate his/her money to the fundraising campaign. Not offering any rewards is one of the major pitfalls that individuals face. You are most likely to lose potential donations if there is no reward offered. It is another incentive for a donation, so use the donations to the best of your abilities.

Not keeping the promise

You need to keep your promise. Always be sure to get your incentives out on time! Your investors want to be assured that if you say you’re going to use the funds in the way you promised. If you raised money to launch a new product by a certain time, then you need to do that. There’s no trust in taking people’s money and then they get nothing out of it.

No marketing for crowdfunding Campaign

Just launching a crowdfunding campaign will not guarantee that people will come to it. How will people respond to your campaign if they don’t even know about it? Crowdfunding marketing is its own thing entirely. Just like you would market your products or services, you must also market the campaign. You have to create awareness of it and then continually keep people’s interest so they will not only invest in it but also tell their friends about it.

Recommendation: If you ever think of launching a crowdfunding platform where people will run their crowdfunding campaign we recommend you to try either WP crowdfunding plugin or the ready to launch Backer theme, In both cases, you will be all necessary functionalities for a complete crowdfunding service.

Leave a Comment