3 Reasons Why Crowdfunding Campaigns Succeed

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I don’t profess to be a crowdfunding expert or an all-knowing guru, but after running a small crowdfunding campaign and watching the success of other campaigns, I’ve come up with this advice.

There are 3 reasons why a crowdfunding campaign succeeds:

  1. Passion
  2. Story
  3. Product/Service

1. Passion

Having passion that is contagious and ignites excitement in those you talk with is critical. You need to be fired about about what you’re crowdfunding.  This passion and excitement needs to come through in everything you do; whether it’s chatting in-person or sending a tweet.  As you do this, this passion will spread to your fans and supporters.  When this happens, you’ve created an army who can and will share your awesome project.

A crowdfunding project without passion is bound to fail.

2. Story

Your passion should be evident in your story.  Your story is not about the ask. In fact, that’s the last thing to think about. You need to tell a story that is filled with passion.  Your story shouldn’t focus on logical reasons, but rather speak to the heart. People don’t buy what you do, they buy why you do it.

When your story is written with passion and speaks to the why, that’s when real magic happens.

3. Product/Service

No matter how much passion you have or how amazing of a storyteller you are, your crowdfunding campaign will fail if the product or service misses the mark. Everyday crowdfunding campaigns are launched for products or services that are ridiculous.

Here are a few questions to ask yourself about your crowdfunding product or service:

  • Does my product/service fill a need?
  • Have I done any market research?
  • Would a stranger off the street buy your product/service?
  • Is my product/service unique?
  • Would people talk about my product/service?

Unfortunately, the saying from the 1989 Kevin Costner film, Field of Dreams, is not true.  If you build it, they won’t necessarily come. Not without hitting these three points out of the park.