Successful crowd funding is not simply about uploading a campaign, reaching the target, and cashing the proceeds. There are several layers to success including making it through the platform due diligence process, planning the launch of a campaign, executing the live campaign, and implementing the campaign goals. Campaign makers should also consider the impact of crowd funding in their overall vision and goals for the organization or project, while keeping in mind that the long-run success or failure of the venture will be all the more public for those that utilise crowd funding. The Layers of Success for Crowd funded Ventures and Projects Choosing the Right Platform Understand platform compatibility and due diligence. Campaign Execution Set a realistic target, plan outreach and produce content. Implementing Campaign Goals & Long-run Success Set realistic milestones and engage the network. These ‘layers’ are in fact interconnected, playing out concurrently – this is not a linear box ticking process, campaign-makers need to fully explore the big picture before launching a crowd funding campaign. For example, a campaign-maker looking to launch a reward campaign4 should consider how they can deliver the reward from a financial, logistical and human resources perspective; and be sure not to over-promise and under-deliver in their quest for capital. The cost of the reward, its delivery, and timing 8 of production and shipping, should be considered. Almost all crowd funding platforms give disgruntled backers a voice, so managing expectations and ensuring long-term viability is important from a brand and reputation perspective. Often campaign-makers focus exclusively on the Campaign Execution phase, without considering that a crowd funding campaign will likely require resources for 3 – 6 months prior to launch: to identify the right.  Thus, crowd funding success should be considered over the long run rather than simply satisfying a short-term funding need.

By: Julie Fe S. De Alca | Teacher II | BNHS – SHS