I got my start as a crowdfunding coach by being a backer.
I backed dozens of projects in all kinds of categories, over multiple platforms. I saw it all.
I saw projects that communicated, and projects that didn’t.
I saw projects that delivered, and some where we never heard from the creator again.
I witnessed projects make several times their funding goal, and plenty that failed to get there.
On one project, the creator passed away before the project ended.
I backed small projects, and I backed large ones. Gadgets and personal projects. Films and albums. Famous people and ordinary people.
I might be a crowdfunding coach, but I am a backer first and foremost. To the point where one of my projects recently asked me if I was planning to seek help for my ‘problem’.
I seriously can’t help it. I don’t tend to spend my money on alcohol or pretty shoes. I spend it making other people’s dreams and passions come true.
My first recommendation to anyone thinking of crowdfunding is to become a backer
I think we all learn by example. And if it means your own project is successful, you should view it as a cheap lesson.
Being a backer means you witness the entire project: from the inital campaign right through to fulfillment. But sometimes there are crowdfunding examples that you can learn heaps from – if only you knew the questions to ask.
The point is to try and break down the success of the project
So, what questions should you ask yourself when researching your crowdfunding project?
Grab the worksheet at the bottom of the page. It will lead you through researching 5 example projects relevant to you.
Work through it using your 5 crowdfunding examples.
Extra credit
If you want to study a project in depth, not only should you know the answers to all these questions, but you should also compare them to a tracker such as Kicktraq.
Cross reference the dates of an update to the number of backers, or comments received on that day. Check out the first and last 4 days – what patterns do you notice in the updates?
Are there any spikes in activity? Can you see where those might have come from? (Typically, if a project gets a high-profile supporter, or media, this will be mentioned in the comments or updates somewhere).
Once you are live, every second counts. Spending time looking at two or three projects similar to your own like this before you launch will help you to understand what techniques work for a similar audience – and what doesn’t.
This can save time and anguish, meaning you are constantly moving forward and making meaningful steps towards success.
