4 Ways to Encourage Donations to Your Crowdfunding Campaign

by Alex Feldman

September 5, 2017

After thinking about it for some time, you are ready to launch your first-ever crowdfunding campaign. You have a great idea for a new and innovative product, and the marketing research shows that you are definitely on the right track. The only thing that you are lacking to get this project off the ground is enough capital — which is why you are ready to get your Kickstarter or Indiegogo on and have friends, family and total strangers give you some of their hard-earned money. 

In order to make sure your crowdfunding campaign is as successful as possible and get as many donations as you can, check out the following tips:

Start off with a Reliable Smartphone

To help your crowdfunding campaign reach its goals, it is important for you manage it well and stay connected with your contributors. To keep up with everything, it’s crucial to have a smartphone with a reliable network that doesn’t put a cap on your data usage; this way, you can keep tabs on everything while you are away from your main laptop. If it’s been some time since you have upgraded your smartphone, you may want to check out the Apple iPhone 7; this cutting-edge phone definitely has what it takes to help you manage your campaign, and T-Mobile offers affordable payment plans that will not put a huge chunk in your budget.

Alleviate any Concerns People May Have about Donating

While your friends and family members know you and your future product are the real deal, other people may be understandably wary about donating money to a stranger. It is important to reduce any perceived risk as much as you can. One effective way to do this is to choose the All-or-Nothing (AON) model instead of the Keep-it-All (KIA) option for your campaign — this allows you to keep the money only if your goal is met. You may think that getting to keep all of your donations no matter how much you raise is a good thing, but analysis of past crowdfunding campaigns has shown that the AON projects are more successful — primarily because they reduce the perceived risk of donating to a campaign that may end up being underfunded.

Make Frequent Fundraiser Updates

The more often you update and share your fundraising page, the more successful it is likely to be. Post updates about funding to the page itself, and then also on social media pages like Facebook and Instagram. This will allow your campaign to stay on potential donors’ radar, and will also help them see how many others have already given money.

Give Cool Rewards

People are much more likely to give away money when they feel like they are getting something fair in return. You can probably get away with “rewarding” donors who give $1 with a public thank you on your page, but in order to tempt larger amounts to come in, offer tangible rewards. In most cases, this will involve sending donors the product you are manufacturing, or multiples if the donation is extra large. You can also consider printing T-shirts or other promotional items with the name of your project and give those as rewards. To make this tactic especially effective, use a bit of psychology and remind donors that for the cost of a common item, they can help a great cause. For example, try saying “If you donate $3 to the campaign, which is the price of your daily vanilla latte, we will send you a fancy light up pen with our company name on it.”