You’ve just launched your first crowdfunding campaign.
You’ve done everything right.
The money starts rolling in and you hit your funding goal.
Congratulations! Now you can do that amazing thing you really wanted to do!!
But suddenly…
You also have dozens, hundreds – and in some cases – thousands of people now expecting you to not only complete that big hairy goal you set yourself, but also to deliver all those awesome rewards you promised when they backed you.
The rubber really meets the road
I’ve been thinking recently about all the projects I have backed. I’ve contributed roughly $1500 to crowdfunding projects over 3 platforms in the last 12 months alone.
Of those projects, more than 50% of them have yet to deliver my rewards.
Sometimes, you’ll just get busy
Films take a long time to produce and I have at least 4 currently in post-production. There are manufacturing delays, or changes to the schedule due to unplanned-for demand. I know this, because I’m being updated.
That’s part of being a backer. You believe in these projects, so you put your demand for instant gratification on the shelf, and you wait.
The key thing is to tell your backers what’s going on
Most of the time backers don’t hear from a project because the creator is busy doing what they said they would do. They go straight into the work and they put their backers on the backburner.
It might not be your intention, but it makes you look as dodgy as someone who’s just taken the money and run.
The result is, the next time you want to crowdfund something (because it worked so well the first time), your audience won’t play ball again.
The trust is broken and you have to build a new crowd, from scratch, again
So now that your project is funded, and you’re ready to go with your big dream, what are you going to do about those backers who believed in you so much they forked out their hard earned cash?
1. Set yourself a content schedule
The frequency is entirely up to you, but make sure it’s at least once a month.
Set the time aside and send an email.
Every crowdfunding platform has this functionality. Use it.
2. Be honest
If there’s a delay to the planned schedule, just explain it, and tell your backers how you’re planning to work around it.
They’re already cheering for you. They’d rather see you succeed belatedly then have the whole thing fall over.
3. Do what you said you were going to do
If you promised ‘exclusive updates’, follow through.
You don’t know who those $1 and $5 backers are. They might just be someone who wanted to help, but they might also be someone with a lot more cash tucked away, looking for a good place to invest it.
Are you a backer who has been let down by a project? What did it mean to you? I’d love to hear about your experiences in the comments below.
