Last week I went to Union St Cowork to hear a talk by Juxdit, all about what makes successful crowdfunding campaigns.
I heard about the workshop via Twitter and am always up for some free learning, plus I’m interested in learning more about successful crowdfunding campaigns from a third sector perspective and also a start up perspective – could come in handy at some point in both of my jobs!
They went through things to consider before launching your campaigns, the different types of campaigns, from ‘Overcoming The Monster’ to ‘Tragedy’ and ‘Rags To Riches’, and they also talked about how and when to start promoting your campaign.
Here’s one example they showed us during the workshop of a very good campaign – and one that exceeded its target. The ‘Kazbrella’:
This is a typical example of ‘Overcoming The Monster’ – in other words, solving a problem.
There were a number of key points I took away from the workshop:
- You must be able to tell your story in an emotive way and in 40 words or less.
- Build communities around your campaign months before launching it, use social media to make contacts and build relationships.
- Enlist the help of your inner circle and if you can afford to, even back your own campaign in the early days – on the whole, campaigns that hit 30% of their target within a third of their timeframe are successful.
- Be clear and transparent in your aims, and never promise your backers more than you can actually deliver
- Use high quality images and video – vector images work best.
- Always set your lowest target to increase your chances of hitting and exceeding it. For example, if your target is £1000, set one of £800 on your campaign.
One campaign I particularly enjoyed learning about separately to this workshop was Epic Brum led by Immy Kaur and co, which you can see here:
I’m planning to visit Impact Hub Birmingham this year to see it in the flesh! In my current role at Doncopolitan Magazine I work from a space similar to this and to Union St called the Copley Road Project. I really feel like the future of the working world lies in shared, collaborative spaces like these. Being able to come into a creative, exciting space to focus on your work is a great equaliser for teams and I think it makes me more productive too.
I really enjoyed the workshop at Union St and am keen to go to some more – you can find out about their latest events by following them on Twitter.