How to Get Your First Crowdfunding Donation

by Tatyana Kapkan on February 20, 2014

in Tips & Tricks

First ask yourself: Would you donate and share your story? If the answer is no the it’s not compelling enough.

Promote your story, not just your financial needs. You need to create a community of support to promote your cause. People don’t want to be considered as a piggy bank, they want to be connected to you. The key is to provide a hopeful message in your story and identify elements that could resonate with others. Show how your story can relate to other people by providing compelling images, videos, and updates to your campaign.

Establish Social Equity. Do this by reaching out to close friends and immediate family to receive the first crucial donations to your campaign. People are far more likely to donate once donations have already been made. Initial donations legitimize your campaign to the rest of the world.

TIP: Ask your best friend or mom to be the first to donate.

Keep people talking: one important thing to remember is that your campaign can easily be forgotten unless you regularly update your supporters with tweets and Facebook posts.

Think of building your social equity as a series of steps- you can’t get to one without the other.

First Level is your immediate family- like your mom, dad, brother and sister and best friends. This is the initial 20% of your donation goal.

Second Level: is friends like neighbors and coworkers, and extended family like your grandparents, uncles, aunts and cousins. Pick 15-20 people in your network that love you and trust you for further donations.

Third Level: is friends-of-friends and acquaintances. To reach the third level the second level must have donated and shared over their networks.

Fourth Level: is broader connections and the crowd. This means your story has gone viral, it wouldn’t have gotten here if you didn’t complete the previous levels. This is when it becomes exciting, and your story now has the attention of strangers.

If you have any questions regarding building your social equity email us on coaching@fundrazr.com and subscribe to our channel for more How To Crowdfund videos!

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