At their core, all crowdfunding campaigns are movements. Some have big ambitions, like reforming campaign finance, or promoting medical research. Others are just great solutions for everyday living. Regardless, the principles for building a movement and building a successful crowdfunding campaign are similar. In this three minute TEDTalk, Derek Sivers uses a rather unusual video to break down the importance of leadership, and more importantly, followership.
His key takeaways are as follows:
- While the leader almost always gets credit for starting a movement, it’s the first follower that turns him or her from a “lone nut” into a leader.
- Your movement must be public. It’s crucial to show off your followers to demonstrate your growing momentum.
- Nurture and embrace your first followers.
Each of these three principles of movement building has a corresponding lesson for crowdfunding. Here’s what you have to know when getting your platform or campaign up and running.
Early adopters are crucial. One major crowdfunding portal cites the following statistic: 81% of all projects that surpass 20% of funding reach their ultimate goal. Even with the protection of an All-Or-Nothing funding system, humans want to be a part of successful projects, and are much more likely to support when they know that the campaign will come to fruition. When you’re ready to launch your initiative, be it a platform or a campaign, make sure a few friends are ready with credit cards to get things rolling. You can take them out for a drink to say thank you when things catch on.
Spread the word. Publicity is the lynchpin of crowdfunding success. Even if you can’t land Page One of the New York Times, some targeted PR outreach can make a splash in the right circles. Furthermore, ask those devoted friends–the ones that were ready with credit cards–to share their interest in your project within their social networks. Maybe a second drink is in order?
Embrace your followers. Sivers points out that while leaders get all the credit, the followers are what is driving the movement. Whenever possible, campaigns should engage and thank their followers. Campaign owners should keep everyone in the loop with what they are working on. Platform hosts should acknowledge the help they’ve had along the way. Keep the conversation alive.
Launcht’s white label crowdfunding system has features to help you do all of the above. From social media sharing capabilities to micro-blogs for each campaign owner to email list generation for platform we help you build momentum early, share your success and keep the conversation going.
To learn more about out system, click here.