indiegogo.com

How to correctly use indiegogo.com to raise money (crowdfund) your new business idea

February 19, 2015

Crowd funding is the revolution that has turned the dreams of many people with bigger ambitions into a reality. Companies looking to expand operations and even bands have succeeded in sourcing funds. Crowd funding platforms have become a wise idea for anyone looking to raise capital to get their idea off the ground, and it is something anyone can do, with the right knowledge. In the realm of crowd funding, Indiegogo has become a forerunner, thanks to its ability to get people the funding they want at reasonable return rates. Finding the funds for your venture isn’t as easy as signing up for the platform and posting your request. There is a real science and art to getting the attention that will translate into real capital for whatever it is you want to achieve. Equip yourself with knowledge of what people respond to, and you can go far.

The first step to correctly making use of indiegogo.com is putting the right amount of effort into actually creating a campaign that clearly shows what you want to achieve and why your business or idea deserves the funding. There’s no way anyone can be willing to part with their hard earned money if they don’t see that you are worth it. The hardest work you’ll have to do is starting and then building a campaign that makes people understand your mission, objectives and understand how they can help you achieve this vision with their financing.

Set the right goals

It’s important to be realistic about what you want to do, and this includes setting a timeline that runs long enough to make sure you get the benefits of it. At the same time it has to be short enough to show that you have clear goals and a mission. You can’t expect being able to reach $15 000 in a few days, so pace your campaign well enough so that you give time for the funds to steadily accumulate. While campaigns are given a maximum of 120 days, it has been found that campaigns that run for 70 days have the best results. Make sure your campaign is live for all the days allotted, downtime has the tendency to reflect badly on potential investors. If you plan to have a campaign that runs for a month make sure you clearly show what you want to do with the money once you get it. Don’t be vague by saying that you just want to expand your business – be very clear and list the things you want to do and provide as much information as possible to put people at the ease of knowing that their money is going to something impactful and meaningful. When you tell your story, show the impact you’re trying to make through your innovation, invention or idea so that people can actually picture it and put it into broader context what you are planning to do. It’s not just about presenting your idea, it’s also about presenting yourself as credible and deserving of support.

The way you present your idea is also as important as the idea you are bringing forward so make sure you apply enough creativity to ensure that your campaign on indiegogo.com does not go unnoticed. Video pitches work brilliantly to present something that’s refreshing and different from words that can be static and one-dimensional. Presenting yourself on video also humanizes your business or idea so people will feel like they know you well, and can trust you more. Your video gives you the chance to show your passion and the confidence that you have in the idea. People need to see that you believe in it so that they can believe in it too. According to inc.com campaigns that have videos can raise up to 122% more money so keep that in mind. Of course you can have a video showing you describing the product and asking for the financing, but there’s absolutely nothing wrong with being creative and making something that’s both fun and purposeful. Show that your brand has personality, let people get to know you and even show that you have a sense of humor. You are more likely to stand out this way and as a result raise more money. Don’t be afraid to make a fun video that might even go viral and give your campaign exposure that goes way beyond indiegogo.com and its members.

Indiegogo.com also gives investors the chance to get perks; to be unique offer the people you are courting great perks that show the core of the business. This could be a Google Hangout to get to know them – as long as it is something they will enjoy and want to get involved in. It’s important to make people feel like they are a part of something big and something important – this is how you win their trust and their financing.

One of the smartest things you can do for your indiegogo.com campaign is broadcasting it on social media platforms like Facebook and Twitter. It will build more awareness for you and also open you up to a wider net of people who can contribute. Share it on your Facebook timeline and even ask friends to that as well. Remember that sharing could be difference between you reaching your target or your campaign not resonating.

Making use of crowd funding platforms isn’t just great for actually raising the money you want, it’s also excellent at building exposure for your brand and even helping you gain a following. Getting people’s attention and funding is one thing; keeping them inspired so that they become followers is another. Take advantage of the community you have and communicate with these people. Inspire them beyond what you want to get out of your project and become a part of their lives, even if it’s just online. Loyal fans invite more loyal fans and in the end you will build a stronger brand before your campaign is over.

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