Crowdfunding Campaign an Epic Failure? Relaunch Using These 10 Tips!

So you thought crowdfunding would be a piece of cake?

You posted your campaign on Kickstarter and waited for the gravy train to come in. How hard could it be? You’ve seen celebrities raise millions and surmised that you could do the same.

You waited and waited. Thirty days later, not only didn’t you come close to reaching your goal, you didn’t make enough for a cup of coffee at Starbucks.

What went wrong and how can you relaunch your failed campaign with considerably different results?

1. Have a friend/colleague compare your campaign to others currently running in your category. Ask him/her what they have that yours doesn’t. (Be open to constructive criticism).

2. Take a closer look at your video. Is it all about you or the product? If it’s all about you, dump it and try spending more time on the product, giving visual details. Demonstrate how the product benefits the user/backer; keeping it short and simple. Try to keep the video within one to four minutes. Under one minute, it’s a commercial, over four minutes; a documentary.

3. Rethink your funding goal. Too high? Too low?

4. Is your “story” compelling enough? If not, come up with a new story or tweak the one you have. People want to connect with you. Give them a reason to do so.

5. Pie in the sky ideas. I’m not one to crush anyone’s dreams, but you have to be realistic. If your goal is to raise $500,000 to end world hunger, by handing out smiley pins to kids in Uganda … it probably won’t happen. Set reasonable expectations and goals.

6. You misunderstood your target audience. Before embarking on another crowdfunding campaign, think about the audience you are trying to reach. How much do you really know about them? Do your research.

7. You misdirected your campaign. Yes, you know all about the product you are trying to sell, or the movie you are trying to make, but does your audience? Put yourself in their shoes, then explain it in a way that is understandable to an audience who has never heard of you or your project.

8. Was your message clear and concise? Or did it get lost amongst all the other campaigns? Make yours stand out by avoiding generic stories, descriptions of your product, etc. Find keywords that fit your campaign specifically. Use in all of your marketing, as well as the actual campaign page. Example: You have created an app that will help you lose weight. Instead of, “Lose Weight With My App,” try, “Busy Mothers Lose 10 lbs in Just 10 Minutes a Day with XX App.”

9. Did you follow up with everyone who left comments or contacted you? Did you follow up the same day? I’ve visited websites where I was very interested in buying a certain product, but I had questions. So I emailed them and waited, and waited. If I don’t hear back from them within 1–2 days, I write them off. People may have written you off as well, if you have poor follow up skills.

10. Is your project crowd-fundable? Maybe it’s not. Maybe there are just too few people interested in cats made with toothpicks. You’re better off finding alternative funds for your niche product elsewhere.

So get back in the saddle, make these strategic changes and reap the rewards.

More tips can be found in: “Hacking Kickstarter, Indiegogo How To Raise Big Bucks in 30 Days: Secrets to Running a Successful Crowd Funding Campaign on a Budget,” and, “Kickass Kickstarter Gods: Experts Reveal Their Pathways to Millions.”