【KIT】Easy steps on how to start your first crowd-funded project

Articles GrowthHacking Technology

2021.02.09 / Last modified at 2021.03.02

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Crowdfunding – at least once or twice you would’ve heard of it.

But how do we actually start a project and get funded? Those people who successfully received enough funds make it seem so easy to start a project. Is it truly easy? Or is it much more complex than we imagine?

Well, after you read this article, I’m sure you will start a project in no time and achieve success.

1. Do research

You should not just create a project that popped into your head. Thorough research is necessary.

Don’t forget to check similar projects to yours on various crowdfunding platforms so that you can understand strategies that led them to success/failure.

When doing research, do not just focus on success only. There’s a lot to learn from a failure, so don’t forget to cover both and find out the difference between them. I am sure this will help you a lot.

2. Plan your project

When you start a crowdfunding project, you will probably be posting it on a certain crowdfunding platform. Therefore, it is crucial to check the guidelines, FAQs, terms and conditions of the website.

Also, if you would like, some crowdfunding services provide consulting services, where they will give you advice about your project to ensure success. They are basically experts on crowdfunding, so don’t miss the opportunity!

During this planning phase, make sure you specify your target. In order to get funded, you have to attract a certain type of audience to achieve your goal. You can use different kinds of marketing strategies out there to choose a certain market and narrow down your targets.

3. Write a description of your project

Now it’s time to actually verbalize your project.

There are certain formats that are effective when writing a crowdfunding description, which we will introduce you to in another article.

Storytelling is the key to the project’s success. Stories attract people. Make sure you have a clear and attractive storyline.

4. Prepare a reward

Although there are different types of crowdfunding, it often comes with a reward for those who funded your project. So, if the project you’re planning should come with a reward, make sure you have the idea clear and also make it very attractive.

A crowdfunding project without a valuable reward is a failure. Look at projects that you did research on and see what kind of rewards they provide.

5. 3..2..1..launch and market

After you have successfully verbalized your project. You are all set to publish it on the crowdfunding platform.

Although your project might grow using the platform’s algorithm, it is better if you do some marketing so that people will acknowledge it and actually provide some funds.

Share it on your social media and ask others to share it for you. In no time, you’ll see how effective it is.