How to get a successful crowfunding campaign

The crowdfunding platform Ulule gives support to all project leaders. I went and attended one of their training at their HQ, of which you will find below a summary.

Master the steps of a campaign

1. Financial Goal

Define your campaign’s target is not that simple. It should be both realistic and collect sufficient funds to complete the project. It is therefore important to calculate your real needs, taking into account, for example, the cost of counterparties, shipping...

According to your company or institution status, such a campaign may involve fiscal costs. For a company, the collected VAT would represent (in France) 20% of funds, to which you have to add the revenue tax.

If the collection is set up on a platform like Ulule, you may also have to pay a commission, 8% in the case of Ulule.

Last thing but not least: you have to assess your community base, your “inner circle”. In the case of an individual, it is family or friends. For a company, it could be your engaged fans. This small group has to be able to finance 30% of the project! Thereafter, these early contributors may become ambassadors of that project.

2. Counterparties

Platforms such as Ulule involves counterparties, which could be based on certain thresholds. It is good to know that the most popular bearing stays between 15 and 35 . In general, 55% of counterparties are made of donations less than €35.

There are two kinds of counterparties: mass  counterparties versus selective counterparts. Selective measures have to be really exclusive.

3. Communications Plan

A communication strategy is essential and has to be thought and settled well in advance. Talk about your idea to your inner circle even before it becomes a project.

Questions to ask:

  • Is this a local or global project?
  • What media should we use: posters, leaflets, mailings?
  • In what language?
  • By what means: specialized media versus local media forum ?

4. Animation of the collection

At the launch of the campaign, you would need to contact you inner circle to contribute on the project page. Indeed, it is only after reaching a minimum of contributions that you can start communicating about your page and campaign to your second circle.

As a consequence, this will be time to communicate on social networks (don’t do it before you get no contribution) and to influencers. It is interesting to note that 50% of traffic to Ulule comes from Facebook.

Concerning the third circle, the press, it is important to select the right media depending on your theme and targets. As a reminder, please contact first the online media and then the off-line magazine, as the conversion rate will be higher on webzines.

How to animate one’s campaign on Ulule once it has been launched?

  • Publish news
  • Reply to comment

And also:

  • Regularly change the main image
  • Define new thresholds/ levels/ objectives
  • Create a new counterparty
  • Unlock consideration that was limited
  • Run games / competitions

5 Post-collection

Once your crownfunding campaign has finished, please do not forget to thank and do not be silent! It is rather a good idea to keep talking about your projects.

Good luck!

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