Crowdfunding is a way to raise money to fund your idea, business or cause.
But how does it work? Read on…
- Pick your platform
There are many crowdfunding platforms out there, but only one in Malta. As the island’s reward and donation-based crowdfunding platform, Zaar makes it easy to launch your online campaign, and helps you reach and inspire both local and international backers by offering guidance, support, and promotion.
- Plan, plan, plan
Successful crowdfunding depends on how well you’ve planned your campaign before you hit the launch button. Take the time to plan every detail - from marketing and promotion to how and when you will deliver any rewards. Zaar will always be on hand to answer any questions you may have before, during, and after your campaign.
- Calculate your funding goal
Yes, this figure needs to cover the amount you need for your project – but this is not the moment to get greedy. Tempting as it may be to pick a large figure, it is always safer to have an achievable funding goal that will reassure backers that you can meet it, and that will allow you to take the money. If you run your campaign well, there’s always that chance that you may even exceed your target!
- Build your crowd
For crowdfunding to work, you need a crowd. These are the people whom you want to support your campaign. Start off with your immediate close network of family and friends, but spread the word by telling any existing customers, business contacts, and your social media network. This is your opportunity to let everyone know about your campaign, so get creative with how you engage them too, using social media, websites, email newsletters, and good old word of mouth.
- Think: rewards
With reward-based crowdfunding, you need to give something to your backers as a token (or reward) for their support. These rewards should ideally reflect your project somehow, and can include a thank-you mention on social media, personalised notes or exclusive merch. And make sure that you deliver on what you promise!
- Create your campaign content
Your campaign page should look inviting, sound interesting, and offer clear and concise project details, so that pledging towards your project is a no-brainer for backers. On top of well-written text, it’s highly recommended that you include high quality images and you could even create a campaign video to further explain to the audience why they should back your idea.
- Hit launch – and keep your supporters in the loop
Once you’ve launched your crowdfunding campaign, it’s when things get really interesting. Throughout the campaign, you will need to promote it heavily, update the campaign, get in touch with backers who have already pledged and ask them to share it with their network… your campaign is alive, and you need to be too! When the campaign closes, thank all your backers and let them know when they can expect to receive their rewards and let them know about your future plans.
Get in touch with us today to help you raise money with crowdfunding!