Two weeks ago we asked our community to fill in a short survey. Our goal of this short survey was to collect insights from our community (investors and followers) about our proposition and future possibilities. We believe that working with an outside-in strategy will help us creating a better platform. The results of the survey will be taken into consideration towards further expansion of ImpactCrowd.
As promised we liked to inform you about the most important insights we would specially draw attention to in the next phase of our platform:
The representation of interesting (sustainable) ventures and the financial return are the most important aspects that satisfy the needs.
Regarding to media and communication we will draw special attention to the ways people end up to our platform; personal contact, peer to peer, communication by the ventures and Google.
Together with our website development team we dive into the technology how we can connect the community of a venture with each other, so you are able to contact each other for example.
For our next phase we will produce special content strategies around LinkedIn and Twitter as these are the most used social networks of our community.
Based on the insights of the survey we will together with new investees we discuss communication planning around the topics, progress and frequency to extend closer involvement what’s going on.
On behalf of our team we like to thank you all respondents for their time to fill in our survey. We really appreciated your help.
Barry, Enrique, Vibeke, Marjolein
According to figures from crowdfunding platform Kickstarter, the chance of a crowdfunding campaign being successful is 50% if you have a video, and only 30% if you don’t have a video. Figures from Indiegogo underline the importance of a video even more: crowdfunding campaigns with video get twice as much or even more financing than campaigns without a video. So a video is definitely important for a crowdfunding campaign! But what should a good crowdfunding video consist of?
Tell who you are and show your face. Potential funders like it when they can look into your eyes and ask themselves: “Who is that person that is asking me for money?” Do not hesitate to express your passion for the project or the company. If it is relevant, you can also substantiate why you are the ideal person for a project or a companies success. The creators of the Cosmonaut have succeeded in coming across as authentic, open and enthusiastic in their video. It’s like you’re Skyping with them.
Why does the project or company for which you are looking for funding exist? For what purpose did you start the project or company? Try to formulate the ‘why’ question as brief and powerful as possible. With a strong “why” question people actually feel involved with your project or company, which makes it easier to mobilise them. Want to know more about the power of the “why” question, see the TEDx Talk by Simon Sinek: The entrepreneurs behind Biogolf are driven by a strong vision and that speaks clearly from their video. They have managed to apply the “why” question to a seemingly simple product in such a way that after watching the movie the viewer automatically asks himself ‘why not?’ – instead of ‘why?’.
But even with a strong “why” question you’re not there yet. You are looking for funding for a specific project, or a next step that you want to take with your company. The more specific the better. Make sure that funders understand and see for exactly what their money is needed. An example of a movie where everything seems to be perfect, is LIFX:
Crowdfunding is about reciprocity. So if possible, tell or show what funders get back in return for their contribution. But what if they don’t get anything back directly? Show how their contribution helps others, and why it is relevant that this is funded. The creators of Gravity Light might have a very easy product, but nevertheless it is a good example: it is clear that you get the product in exchange for a contribution. Can you explain your crowdfunding idea easily? If not, try again Because if it is simple to understand, a funder can explain the idea to a friend or colleague as well, and recruit even more funders in that way!
5. Thank you!
Do not forget to thank the funders for their belief in you, your project or company and their contribution to the success at the end of the video. Writer Seth Godin makes it clear in his movie that he is grateful for all the support he gets. He is not only thankful for the support of the campaign, but also the support he receives personally from all his readers which allows him to be a writer.
Thanking someone for his or her contribution can sometimes evolve into a poignant question for help. But, that doesn’t work as well. A request for help is less likely to find its way through social media, because people like to be part of a success and they like sharing this with others. Our advice: do not make it harder than it is, the way Seth Godin does it, you can do it too!
And what if you do everything right? We can’t give guarantee of success: the quality of your idea and the involvement of your network remains essential for success, but at least you have a good foundation!
To end in a fun way: here’s a crazy movie, because not everything has to be serious right?! Why not make a cute and catchy story of your film? Perhaps your movie is so good that it will go viral. Have a look at this example of Who Gives a Crap:
This blog is a co-production by Gijsbert Koren (Douw & Koren) Vibeke Helder (ImpactCrowd).
Douw&Koren executes (market) research, develops strategies and campaigns to support organisations in reaching their crowdfunding ambitions. Frequently asked for workshops and keynotes.
ImpactCrowd connects online crowd investors with promising startups that offer a combination of potential financial, social and environmental return (ROI). Impact Crowd is powered by Enviu.
Want to know why crowdfunding is becoming the preferred option for young startups looking for finance? 2050magazine.com has published a special edition magazine where you can familiarize yourself with this phenomenon. In the magazine you’ll find examples of different crowdfunding platforms, including ImpactCrowd.
Thinking about crowdfunding? You can reinvent the wheel, but you can also learn from other successful and less successful crowdfunders. What can we learn from Memoto? They successfully raised over half a million dollars on Kickstarter, six times more than they aimed for. Aiming for 50,000 dollar the team behind Memoto was extremely happy when their lifelogging camera was enthusiastically received by a growing group of investors. Want to know how they did it?
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