CrowdFund Newbie
Who You Know: A Secret to Successful Crowdfunding
By Ambrose Moses, III
One secret to a successful crowdfund campaign is activating your network.
You can’t simply post a crowdfund campaign on a site and expect money to magically appear. The key is your network.
Your network is broken down into 3 levels.
Level 1 is your friends, family. Friends and family are likely to support your crowdfund campaign because they know you and trust you.
Level 2 is friends of your friends and family. Level 2 supporters become aware of and engaged in the crowdfund campaign because of their close connection to your Level 1 friends and family. You might call this the network of your network.
Level 3 is the crowd. By the time your crowdfund campaign reaches Level 3 it has gone viral and is grabbing the attention of people near and far.
Activating your network is crucial. “Activating” your network means making your network operational or setting it into motion. You need your network to take action. In order to activate your Level 1 you should connect with your family and friends before you launch your crowdfund campaign. Let them know what you are doing, why you are doing it, and ask them to support you by contributing to your crowdfund campaign during the first few days. This is important because it gives your crowdfund campaign momentum which makes it easier and more likely that others will take the campaign seriously and be willing to contribute or donate. You also want your Level 1 network to spread the word about your crowdfund campaign to their network.
Activating your Level 1 network of family and friends a key component of a successful crowdfund campaign.
For more information on Crowdfunding, contact OBDC at OhioBusinessDevelomentCenter.com or 614-285-6234.
