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MenuWould the crowdfunding campaign I wanted to do (which had some unusual features) be possible on Fundable?
Hi. I'm here because Fundable Customer Support referred me to you when I stated that the crowdfunding campaign I wanted to do on Fundable had some unusual features about it. Here's what I asked: ""I'd like to highlight 3 aspects of my proposed crowdfunding campaigns that are likely to make them different from typical campaigns. Firstly, I'm not crowdfunding a single product; I'm crowdfunding many similar products. Secondly, the products (Elementum eBooks) offered for each campaign will cost only US$3 each, so it makes sense to offer bundles (eg, buy 3 titles for US$9, 4 titles for US$12, etc). Thirdly, if Crowdfunding Campaign #1 works, I'll want to do at least two more, in sequence, offering more titles."
Answers
Here are a few thoughts on your proposed crowdfunding campaign ideas:
Crowdfunding multiple similar products under one campaign is certainly possible on most platforms, like Fundable. It's not an unusual approach. Just be clear in your campaign description and reward tiers about the different products and bundles available.
Offering product bundles at discounted prices is a common and effective crowdfunding strategy. Having lower price points, like $3 per eBook, also helps lower the barrier to entry for more backers.
Running sequential campaigns to release additional titles over time can work well. Just be sure to fulfill the first campaign fully before launching subsequent ones to maintain trust with backers.
Consider packaging related titles together thematically to create natural bundles. For example, a bundle of three sci-fi eBooks vs. a random assortment. This helps the offerings feel more cohesive.
Make sure to have clear delivery timelines outlined for your rewards. Digital products like eBooks should have a relatively quick fulfillment window.
The key aspects you described don't seem unusual at all for a crowdfunding campaign on Fundable or similar platforms. If anything, you're leveraging proven crowdfunding strategies that can help optimize conversions. Just be sure to clearly communicate your plans and fulfill rewards as promised to build a good reputation over time. Let me know if any other questions come up!
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What are the qualities of a good fundraiser?
As someone who has founded and fundraised for a social venture, I can tell you that the fundraiser must be the CEO or President. Fundraising for a non-profit is all about building a relationship with your donor base, and the donation is often as much because the donor likes the person & people as much as they like the work being done by the Foundation. One of the most difficult paradoxes of raising for a non-profit web platform is that the more someone becomes excited by the potential of the platform, the more that they would prefer to invest cash for equity than simply donate and looking back on it, I think that would have simplified things for my social enterprise and would have been able to attract far more capital. The other avenue that you can explore is to build in tipping or crowdfunding for your operation directly into the online experience but that will only be a viable source of funds with significant traffic and thus, the operating capital required to grow the business requires proactive outreach to supporters. Happy to speak with you about this in more detail in a call.TW
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For a company in its beta phase, what advice / tactics would you suggest to launch a successful crowdfunding campaign?
Starting crowdfunding while in beta is good - you already passed part of the way. So for backers it is less risky to support you. When I've started my project - the only real option was KickStarter. Now it is the same because only KickStarter has "blockbuster" effect - huge paying audience. On KickStarter you'll collect at least ten times more if to compare to #2 IndieGoGo. Sure if your project will pass KickStarter moderation. But it is worth trying. Giveaways, in my opinion, is always better: you test your production chain & keep full control over your business. Also the product is the core of your business and improving your product will lead to higher valuation. If you have community - try to make it bigger & tell your followers about your crowdfunding plans so they prepare to back you when funding starts. If there is no community - start to build one. Also prepair press kits & at least 10 updates (when 30-50-75-100-150-200% of goal reached, explaining functions of your product etc.), make spreadsheet with press (also include communities related to your project) contact details, check your project category on the selected crowdfunding platform for projects related with yours (for future cross promotion). Hiring expert is pretty useless, I think. Calls on clarity.fm will work better as you not tied to one person and may get more opinions, probably, for the same price. And it is not so much information in the net about crowdfunding to lost in it. All you need (considering you already have great product) is: 1. good project page (which means video + photos + text) 2. good work with press (not so much may be done: press kit + send it over the contacts you have - the result is related to kit quality and amount of contacts) 3. some ways to utilize KickStarter organic traffic (that's "30% rule" & crosspromotion - these ways generally don't cost a penny and both work great for me and 2 more projects I've mentored). Call me for details - I'll be happy to help.SK
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When launching a product on Kickstarter, how and when do you get press coverage?
It's all about building a relationship with these journalists and bloggers. You want them in your pocket long term. Ultimately, they are usually interested in the same things as you, which gives you a chance to connect on a deeper level and make an online friend. If you make a friend, then maybe they can even introduce you to their other journalist friends when the time is right. Ps: when you finally do send them your stuff, keep it short and make sure your visuals get the point off without them needing to read a description. Visual storytelling is huge. Remember: people don't like to readJM
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Is it a good time to launch a (crowdfunding) product before/during/after the December holidays when every company is competing for buyer's attention?
In the past 4 years of marketing successful crowdfunding campaigns on both Kickstarter and Indiegogo, we've consistently seen drops in consumer traffic to these sites during the holiday months, as potential backers are purchasing products for the holidays that they can gift, not necessarily backing projects/products that will ship next year.RM
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Is fundable.com a successful tool to help raise an equity seed round for a pre-launch startup?
We have used Fundable.com successfully for two rounds of financing both oversubscribed. Here is what I can tell you. Basic info: Fundable.com's platform connects accredited investors to startups seeking investment capital. Startups have a public facing profile that includes general information about the companies product, team, press accolade, etc. If you are raising funds claiming SEC Reg D 506(b) the public profile has no information about your securities offering. If an interested investor wants to view more information about your startup and or your offering, he/she would request access to your full profile. The investor must self accredit on the Fundable site before they are allowed to view your non-public profile. The startup is notified and you have the opportunity to conduct some due diligence on the investor (LinkedIn) and elect to invite them into your deal. Your private page includes the offering (terms). All communication from this point is done outside of the platform, meaning you have the investors email address ( a good thing to have). Fundable charges startups a flat monthly fee to post a profile on the site. In addition you can opt for additional services (help) with your campaign. For a flat fee, Fundable will assign resources to help build your profile, consult with you on your raise, and assist with PR or Marketing. This includes a blast to their investor base of over 40K if my memory serves me correctly. I am sure it is higher today. Our experience: For our first round on Fundable, we elected to use the premium service. Fundable did a great job in helping with our profile. We received 50+ views per day (quite often 100+) and on days we were included in their newsletter we received 200+ views. 10 - 20% of views requested access to our full profile. and 10-20% of those responded to my request for a call. Our close rate was very high. Both of our rounds were oversubscribed in less than 4 months taking averaging $50K per investor. These are high quality investors that have not created additional work (outside of normal investor updates). Many of our investors regularly share news and information about our industry. Several have re-invested in subsequent rounds. Disclaimer: Our startup is in the consumer hardware space which I believe tends to attract high net worth individuals. Obviously results may vary, thus I cannot speak to how well a SaaS play would do crowdfunding in general. Fundable.com's premium services offering may have changed since our campaign. I am not affiliated with Fundable.com. In fact we have been successful on other crowdfunding sites as well. In Closing: I am a proponent of crowdfunding in general. It is disrupting angel investing, providing investors with greater deal flow and exposing startups to an exponentially larger audience, increasing their chances to get in front of investors who understand and appreciate that company's solution and opportunity. Most importantly it is moving capital and driving innovation! Keep in mind, securities laws have changed and continue to change due to the Jobs act of 2012. Before you offer any securities to local investors or choose to try crowdfunding, you should consult with an attorney, and take the time to learn and understand what regulations apply to your circumstances.UB
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