By Rayanne Dany CrowdfundBeat Media Gust Post.
When joining the entrepreneurial journey as a woman, you must be well aware of the fact that how difficult it is to make your mark as an entrepreneur in the male-dominated world of business. It is also a fact that most male funders are notoriously slow in investing in women-led startups.
Luckily, women don’t have to stick to the traditional ways of finding the funds for their business. There is Crowdfunding for them, and it is getting popular every passing year.
Crowdfunding is a great way for women to pave their way into the business realm. There are two ways of going about it: rewards-based or through equity. For a reward based funding method, you send a product or any service of your company in exchange for the money.
For equity, you can simply ask your funders to buy stocks of your company. This way, they’ll have a fair share and the proper know-how.
Below are a few ways you can run a crowdfunding campaign successfully.
1. Social Networking Platforms
Build a strong network of followers. The majority of your crowdfunded money comes from the people who know you directly or through connections. They are the ones who take a special interest in what you’re doing. You also need their help to help you make your campaign go viral.
Before you head out to a crowdfunding platform, you should already have a social media pages devoted to your cause. Gain a following by interacting with the people. Get a strong hold and backing. But don’t stop here.
Promote yourself and your cause through other, traditional means as well. Take the opportunity to connect with your community in public events. You can also speak about causes which you are connected to, and like-minded people will rally to support you.
2. Do a Thorough Research
Make sure that you choose a platform that put your idea in front of the right target audience. It will help if the platform particularly targets your cause and generates good traffic. Carefully research the benefits and services they provide.
Do your homework well, and see what’s best for the business. Is it reward based, equity or security? Is it targeted towards other women?
You can also see what the other companies are doing on that platform. To get yourself familiar with the process, fund a small amount to a cause you are interested in. This will help you put yourself in your customer’s shoes.
3. Effective Communication
Be sure to communicate well with your audience. It can be in terms of sales tax or new developments. Keep your audience updated with all the current happenings in your startup or cause.
Make a convincing business plan because it will help you engage well with your customers. Keep in mind that all your efforts should effectively communicate your message with your audience. For instance, if you’re planning to offer True assignment help to school girls, your message needs to highlight this point.
You must keep in mind that you are not employing a traditional method where you pitch in your ideas to venture capitalists before speaking out in public. You are looking forward to grabbing the attention of a crowd that is a mix of both professionals and volunteers looking to put their money for the right cause.
Plan what goals you hope to achieve and how you would achieve them. Your efforts are determined by your passion. Properly plan how everything should be executed and how you hope to communicate. Make sure your audience understands your goals.
If you’re making a video, it should be short, clear and concise. If it’s more than three minutes, it might not make that much of an impact. If it is a message that takes no more than a minute for it to be conveyed but your video is taking more than 1 minute, you’re not doing it right.
Women mostly fund other women, so it’d help if your goal is to target the women audience too. Recognize the hole in the market and fill it.
By crowdfunding, you manage to evade through the prejudice held against women startup businesses. Being a woman, you can get offered special benefits, allowing you to bypass male funders.
You can directly reach out to friends, family, colleagues, and other like-minded people. All you need to have is a convincing power and the ability to sway other people to your cause.
“When you’re trying to influence, persuade or convince people, nothing is more powerful than a good story,” says Donna Cravotta, CEO of Social Sage PR.
By Line: Rayanne Dany is a growth hacker currently working for a tech startup. When not working, he spends his time writing blogs on topics related to business growth, fundraising, etc.