The ABCs of Crowdfunding: P is for The Patron-Age

So Michelangelo says to the Prince: “Whattup, Prince. It’s cool that you dig my sculptures and commission me to do one every five years or so, but I still gotta pay rent, go for brunch and pick up my art supplies in between commissions. That’s a lot o’ chedda’, and I need to make it rain!”

If only Michelangelo had a DeLorean, he could’ve taken advantage of a new philosophy of independent cultural enterprise that relies on the direct, regular and ongoing relationship between artists and their paying fans (or, as Michelangelo would’ve referred to them, patrons).

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Crowdfunding ABCs: G is for Goal Setting

We all know that proper goal-setting is a critical part of your crowdfunding campaign success strategy. There are a ton of great posts (like this one) on how to set goals, so I’m not going to belabor those basics.

On this subject, however, there are two concepts I’d like you to ponder in a bigger sense when you’re strategizing for your campaign.

(1) One goal? S T R E T C H it out. Consider the strategy of enticing contributors to reaching beyond your original goal with multiple, or stretch goals. Essentially, a stretch goal refers to any target set beyond a campaign’s original design, as described by CrowdClan’s Michael Ibberson. In other words, he says, it is not necessary for a campaign to achieve their stretch goals in order to cash-out. Some of the biggest ever crowdfunding campaigns have employed stretch goal strategies.

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Don’t try this at home, kids!

So how does it work? Continue reading

The ABCs of Crowdfunding: L is for Launch

Everyone knows (or should know by now) that a minimum of 30% of your crowdfunding goal comes from those closest to you. From your peeps (ie. friends and family, the soccer team, the fellowship group, the gang at work).

The most successful campaigns have that in the can before they ever go live. Those savvy campaigners view the launch as something that happens in stages — a piece of the crowdfunding puzzle — definitely not just on campaign opening day.

Saturn V

You might define the launch period as having three distinct stages, just like the famous Saturn V rocket that launched all Apollo space missions in the US between 1966-73.

Stage I – Lift-Off: The Key Allies Launch

Think of anyone/everyone who might answer the call to do at least one of three things for you: (1) be a campaign gossiper (by that, I mean, everything you tell them about the campaign from now on, they promise to tell everyone they know); (2) be a campaign contributor; (3) be a campaign volunteer. Continue reading