Ever since we launched Invested.in, I have been asked for tips from our users on how to successfully fundraise online. These are my 5 tips.
And if you’d rather read my 5 tips, here they are:
Choose the right project type – On Invested.in, we let people create different types of projects. You can choose to raise as much money as possible within a certain amount of time, you can choose to set a specific target goal, or you can choose both. You have to remember that if you don’t hit your target, if you set one, your “investors” will get their money back. It’s a great way to raise money if your project is “all or nothing.” For example, if you need $500 to go on tour with your band, and you won’t go if you don’t hit your target, then it’s perfect. It is also a little more motivating. But, if you are just raising some extra spending cash for your tour, you might want to go the other route.
Be realistic when choosing “rewards” – When creating a fundraising project, you’ve got to think about what you are going to give in return for “investment.” Those returns have to be realistic. Sure, your friends and family will give you what they can, but you won’t find many NEW investors if you try giving a CD in return for $100. It’s just too expensive. You can, and should have rewards or returns that are that high, and possibly even higher, but you have to make sure they make sense. Start low, and work your way up. Be creative. The more you make available, the more choices people have. Exclusive content is always a good idea.
Tell a story! – We give you a stage…do something on it! We let you add videos, pictures, text and customize the colors/feel of your fundraising project. Make sure you utilize all the tools we make available. If you do great, and promote your page to all your fans, but don’t give any details on your project page…people will leave. Make sure to fill up your page, make it look like you, and give people a reason to look around.
Pay attention! –Invested.in lets you edit the details of your project and add more video content, pictures, etc… If your fans are confused about something, or you just want to tweak your project to perfection…do it. People can leave comments on your page. Answer them! Engage your fans. Not many people will stick around while talking to themselves!
PROMOTE! – The most important thing for anyone to remember when trying to raise money online is to promote, promote, promote. You cannot expect to just create a project and hope people discover it. You have to work for it. Thankfully, Invested.in gives you all the tools you need to make promoting easy, and then some. Some of our best sharing tools are the easiest to use. Use our Facebook application! Connect your account to Twitter! If you do create a project, remember to check your project statistics on a regular basis. You’ll notice on days you are not promoting, less people see your project, and less people give you money.
Thanks, and GOOD LUCK!!!
These 5 tips we’re originally put together for The Web Punk.