Bootstrap, Crowdfund, Loans…Oh My!
A Field Guide to Crowdfunding
Presented by:
Kristin York, Director of Business Innovation, Sierra Small Business Development Center 10183 Truckee Airport Rd., #202 530-‐582-‐5022 www.sierrasbdc.com
Before Launching Your Campaign: Tell your story with enthusiasm and spread the word about your idea Build your contact list relentlessly Create a logo and name Build a website and social media presence (2-‐3 months in advance) o Build a basic social media strategy while campaign is live Decide which crowdsource campaign platform is best for you Look at similar crowdsourced campaigns, both successful and unsuccessful Choose campaign length
Set your goals and long term vision Have benchmark dates (one day, one week) o 30% of goal in under two weeks Create a reward roll out schedule o Introduce new rewards mid-‐campaign
Building Your Campaign: Plan your pitch! o Why: tell a compelling story of your project and passion
Pitch Video ü 1-‐3 minutes with a powerful first 10 seconds ü Make it personal ü Highlight the story behind the project ü Use visual materials and music ü Include a sneak peek ü Invite the audience on your journey ü End with a clear call to action and gratitude
Written Pitch ü Most important info first ü Be concise and professional ü Explain exactly why you require funding ü Build trust through honesty ü Share details about the journey ü Include photos and rewards ü Proofread (and have a friend proofread)
Create ‘Rewards’ for giving levels o Unique, first batch, exclusive rewards o Have a realistic timeline of deliverables o Examples: Your product (pre-‐orders), discount coupons, donations to a good cause, baked goods, placement of names in visible space, etc. Prepare a short description for the title page with relevant info Link to your Facebook page, website, and other relevant pages Form a launch committee of friends and family to give feedback just before launch
Marketing Your Campaign: Build buzz before it goes live (Soft Launch) Use social media to build support and a following Network with other businesses/partners/sponsors o Attend chamber events and other networking events Create a press release and send it out to bloggers and media with interested audiences
LAUNCH! Test the platform, the donation process, and spark the donations by being first Host a launch party or event with friends, community members, potential customers Send information to your inner network asking them to spread the word o Personalize these emails, people will be more likely to respond Go Offline! Talk about your campaign, attend local events, etc. Go Online! Use hashtags, post on Facebook with photos and a link, announce your rewards Continue to add rewards throughout the campaign Run a referral contest Update contributors on the progress
All good things must come to an end: Build a sense of urgency with a week to go Pull a publicity stunt (I won’t shower until we’ve raised x $) Have a countdown Announce the end of the campaign and publicly express gratitude
Thank everyone! Remember, after the crowdfunding campaign ends you will ideally be left with a viable business, and customers are the most important part of any small business. Great customer service starts from the beginning and never stops. Send personal emails or notes to every single contributor expressing gratitude.
