Perhaps you’ve already been warned: crowdfunding is an emotional rollercoaster.
Chances are, even if you’re aware of it, you won’t quite understand the full force until you’ve hit the “launch” button on your own campaign. But I am a full-service crowdfunding coach, and one thing I always try to prepare my clients for is the emotional toll your campaign is going to take. So here’s how it goes.
The gratitude
Every pledge comes with an extra-big helping of gratitude. Even the little pledges keep you moving up, and when you’re in the low-traffic period of your campaign, it’s always good. Whether you’ve met your goal or not, you’re probably going to want to give every single one of your backers a big ol’ hug out of pure gratitude.
Be prepared. I jumped up and down in my seat every time I got a new pledge. I thanked everyone I could. I told my backers they were awesome, a LOT.
The resentment
“Why has Aunt Judy liked every link to my Kickstarter campaign without putting in a single cent?”
“Why did Uncle Bob cancel his pledge?”
“Why did my best friend bail on her pledge?”
“Only $5!? You’re my MOTHER!”
It’s hard not to let the resentment creep in, especially when you’re struggling to get to your goal.
Try.
It’s not a flattering shade on anyone, and you’re better than that.
There are a million reasons people might not pledge, or might not be able to afford a large pledge. Try to think about the situation holistically, and realise that not everyone is going to think your amazing idea is as amazing as you think it is. We’re all entitled to our opinions, and we’re all entitled to spend our income as we choose. Concentrate on the gratitude for those amazing people who identify with you, and who follow through financially.
The sleaze
It’s not easy to ask for money, and it will only take 2 or 3 days before you feel like you’re begging.
This one is so common I wrote an entire blog about how to promote your crowdfunding project without the sleaze.
The fear
After the initial 48 hours, your pledges are going to slow significantly. It’s called The Golden Gate Bridge Effect. The good news is that if you are hitting the major markers of a successful campaign, you’re still doing OK, slow period or not.
But that won’t stop that fear. And the trick with the fear is to use it to drive you forward.
If you’re afraid your campaign isn’t going to fund, come up with 10 ideas to promote it, and then execute them. Nothing keeps fear at bay like being busy. Here’s 5 original crowdfunding promotion ideas to start you off.
The excitement
HECK YES YOU FUNDED! Shout it from the rooftops, jump up and down, do your happy-dance!
Just remember to record it and share with your backers. It wouldn’t have happened without them, and even if you have bed hair and your pajamas on, you’re not going to be able to recreate that high.
Emotional toll
No matter which way the Gods of Crowdfunding swing your project – to incredible success, or to harrowing failure – you’re going to pay the price emotionally. It’s one of the reasons I really recommend you stick to a 30-day project. There’s no need to put yourself through all that for longer than you have to, and 30 days is more than enough time to fund if you’re going to.
The best defence is a good offence. Spend your energy planning a kick-ass campaign that everybody wants to back and you will get to spend more time on gratitude and excitement than resentment, sleaze, and fear.
Check out the links in this blog, they’re a good start. And if you want some personalised advice that saves you the rollercoaster, book an initial consultation with me today.
