What is the Secret Sauce For Crowdfunding Success?

Written by Priti Ambani

Jan 6, 2014

So what is the secret sauce for a successful crowdfunding campaign? In a recent post we talked about crowdfunding campaigns that have been widely successful and I have often been asked – What is the secret sauce behind a successful campaign?

Obviously there are many factors that help – great storytelling, a wide and responsive social network, unique rewards and more. I found a great post that puts all these factors into a neat infographic, I have pasted below. At the center of all these efforts is a widely successful crowdfunding campaign.

What is missing from the above picture?

In my opinion all these factors follow a key component – a relatable product, service or cause. Not the best thing ever, not the most innovative product, not the most worthiest of causes, (honestly, to the founders their service, product or cause is important and the best thing since sliced bread), but one that makes people say – “I can relate to that” or “I need that” or “That would be very useful to me right now.”

The one dominant, common thread that I have seen in the scores of successful campaigns I have followed is that people support the campaign that strikes an emotional cord and one that they can relate to in their own lives.  This is especially true in a rewards-based crowdfunding campaign and it is safe to say that the higher the number of people you can affect positively, higher are your chances to meet your goals. Every campaign probably speaks to some percentage of the population and this by no means reflects the worthiness of your project, but the number obviously makes a difference if you think about the reach of your campaign and its probability to go viral. 

And relate-ability strikes fast, almost immediately when you read the title of the campaign or the first few sentences of the campaign description. So make it obvious.

We are back to the question – What is the secret sauce for a successful crowdfunding campaign?

Make your campaign relate-able. Solve a need. Touch a cord. Use the right words.

The rest will take care of itself.

 

About Author

About Author

Priti Ambani

Priti Ambani is the Global Media Director at Crowdsourcing Week, a thought leader and prominent writer on social enterprises, start-ups and web 2.0 businesses. Previously, Priti grew Ecopreneurist, a nascent green business blog into a notable social business resource as site director and managing editor. Working from the ground up, she has developed successful business and communications strategies for impact organizations that aim to create social, environment and economic wealth. Priti is a Professional Engineer and holds a Master’s degree in Biological Resources Engineering from the University of Maryland, College Park. Priti lives in the Washington DC Metro area with her husband and sons, is a lover of the outdoors, traveling and from-scratch cooking!

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