Tips for Running A Successful Small Business Crowdfunding Campaign

While government loans and grants can take weeks or even months to arrive, crowdfunding can help close the gap and bring in funding for your small business. You can even get grants through crowdfunding platforms like GoFundMe. Here are four tips for running a successful small business crowdfunding campaign.

Set a Realistic Goal

People are more likely to donate to campaigns that are close to being fully funded, so choosing a goal that you can realistically meet, or even surpass, quickly is key. If you’re not sure how much funding you’ll be able to raise, check out campaigns of other businesses in your area or your field to see what target they set. Aim conservatively so that you have the best chance to surpass your goal. "People will be more willing to get behind your project if they can see the finish line," Siva Mahesh, CEO of Dreamshala, told Business News Daily.

Leverage Social Media and Networking

Crowdfunding campaigns are designed to be shared with friends, family and customers. Share your campaign on social media, and ask your customers and supporters to do the same. You can utilize LinkedIn, Facebook, Instagram and other platforms to share your campaign. Even if your customers are unable to donate to the campaign, ask them to repost it on their own social media; sharing it can be just as valuable.

Write a Great Campaign Description

Telling your business’ story in your campaign will give you the best chance for success. Make sure to tell a descriptive and engaging story in your campaign, and consider including a promotional video, photos, or other information. Customers and supporters are more interested in donating to a business that they have gotten to know through the campaign.

Keep Your Customers Updated

Posting regular updates to your campaign (which is quite easy to do with GoFundMe and other platforms), informing supporters of how your funding is unfolding and how you’ll utilize the funds will keep your customers engaged. Share updates weekly or even bi-weekly to encourage supporters to keep donating and sharing your campaign. Make sure to include as much detail as possible.

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