ArtSites Updates

Crowdfunding - Get Your Projects Funded by the Crowd - Part 2
(posted on 23 Aug 2013)


Kickstarter Canada

Last week, I wrote Part 1 in this series about "crowdfunding".

Today, I'm going to discuss what to expect, what to pitch (generally), and where to pitch:
  • Leverage YOUR Network(s)
    Many people think crowdfunding will be the "silver bullet" to make fundraising easy.

    Unfortunately, those with bigger online networks tend to do better.

    Crowdfunding is most successful when you spread the word through YOUR networks!

    In other words, it still requires a great deal of marketing to get your project heard/seen above all the rest.

    Since payments happen online, mentioning your project on Facebook, Pinterest, Twitter, your blog, your website, mailing list and any other social networking sites will make it more successful.

    Ultimately, it comes down to YOU to spread the news throughout your network(s) and to ask for money!

    One of the key benefits of crowdfunding is that those who already know and VALUE you can donate directly to you and your ideas!

  • Set Realistic Budgets
    When you're planning your project, be sure toset realistic budgets!

    You may even want to split up the project into "Phases" of "Milestones".

    For example, you might pitch a project that only covers your initial "research" or only your production costs or just the exhibiting costs.

    By breaking things up into smaller projects, you present a more moderate goal (for that Phase) which seems much more reasonable and achievable.

    Once you've completed and delivered on a particular "Phase", your funders are also more likely to fund your next step.

    This strategy is particularly important on websites that have an All-or-Nothing policy for funds raised, i.e., you only get the funds if you reach your budget goal.

  • Present a Compelling & Simple-to-Understand Project
    Short videos tend to do better.

    That said, if you aren't a videographer and can't find a friend who is, play to your strengths!

    For example, you might upload a series of drawings or sketches that demonstrate your vision.

    I would, however, recommend that you do present something visual; people respond better to visuals rather than lots of text or words.

    I'd also recommend that you test your pitch, video, drawings, etc. with friends and others before posting.

    This will give you some valuable feedback and allow you to hone (and simplify) your online presentation.

  • Pick the Appropriate Crowdfunding Platform
    Last week, I mentioned Kickstarter and Indiegogo, which are probably two of the most popular crowdfunding websites.

    However, there a many more. In fact, Wikipedia has a list of Crowdfunding Websites.

    When you look at these sites, you will see that many focus on specific "project" areas.

    Review successful (and unsuccessful) projects.

    By doing this, you'll be able to pick up useful tips and more importantly, learn from the mistakes of others!

    Also, read fine print about how a site works, e.g. fees, funding model, countries supported, payment terms, etc.

    While there may be a lot more traffic on Kickstart or Indiegogo, another crowdfunding site with more projects like yours may do better connecting you with the "right funders".
As you can see, there is a lot of research and preparation that goes into deciding what to pitch and where.

Next week, I'll be writing about specifically How to Plan, Prepare, and Structure Your Pitch.
If you have any other "crowdfunding" questions, please send them to me and I'll make sure to include them in my future articles.

In the meantime, start stewing on those projects you've been wanting to get funded.

Let's see if we can find some really creative ways to get your art projects and ideas funded! :-D

Ready for more?! Here's Part 3!

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