Do you know what Crowdfunding is?

This article is not about that, although I can give you a very brief, very sui generis definition. He through crowdfunding It is the system that completely destroys that old myth that “to start a business you need money".

Nowadays, if you have a good idea, you can get money from people like you and me who want to move the world forward by helping entrepreneurs. As you probably already know, a large number of projects of enormous importance (like Oculus Rift or Pebble) have come out of a Crowdfunding, so... Why wouldn't you do the same?

In today's guide, I'm going to give you a few tricks and tips so you can achieve the best results in your Crowdfunding campaigns. Don't miss out on anything, because your future may depend on this article.

It's not like selling in a store

This is the first point that you should take into account before we enter into the different Strategies and techniques to optimize a Crowdfunding campaign. You must keep in mind that getting money in a Crowdfunding, It will always be more difficult than getting money from the sale of a product.

Because? For the simple reason that, when selling a product, the customer gives you his money, and you, in return, give him a product.

At CrowdfundingOn the other hand, the patron gives you his money, and what you can return in exchange, He won't see it for at least several months..

So, knowing that it is much more difficult get money in Crowdfunding that selling a product, it is evident that the question of “How to get more funds in Crowdfunding?”, cannot have an easy answer.

On this occasion, I present to you a small investigation carried out to find the reasons why people donate or invest their money in projects like those that can be offered on the platforms of Crowdfunding.

This way, you can achieve better results based on realistic and empirical studies and data.

Strategy 1: Reduce risk perception

From the patron's point of view, Crowdfunding is a risk. The patron is someone who is paying to create something that does not yet exist. That is, he is facing variables that he does not know.

Furthermore, the fact that 75% of projects are delivered late, doesn't help at all.
If you want to achieve a greater probability of success, you must reduce the risk that the patron assumes (or his perception of risk, rather). To achieve this, I am going to mention some tricks:

1. Use the All-or-Nothing model:

The platforms of Crowdfunding They usually give the possibility to choose between the model Keep-It-All (when the phase of Crowdfunding, you will keep the money raised even if the goal has not been reached) or the model All-Or-Nothing (If you do not reach the goal at the end of the Crowdfunding phase, you receive nothing, and the money returns to the patrons).

You might think that the Keep-It-All model It may be more effective, but the truth is that this study, based on the Indiegogo platform, demonstrated the opposite: Although there were a greater number of projects with the KIA model, Those that obtained the best results were the AONs.

The reason why patrons choose the AON model over the KIA when investing is fundamentally due to the risk perception.

In the study that I have pointed out, this is explained in better words:
"[The] AON model is a clear signal to patrons that the entrepreneur is committed not to carry out the project if they do not get enough, which reduces the risk of the investment. […] KIA projects tend to be less successful, because backers perceive greater risks in those projects that settle for an investment below the target, which is more likely to lead to long-term failure".

On the other hand, and this is something that I add in my personal capacity and that does not appear in the study carried out by Cumming, Leboeuf and Schwienbacher, there is an additional explanation about why investors prefer AON campaigns: since in AON campaigns The money invested is returned to the patrons as long as the goal is not achieved, patrons have the opportunity to “brag” about investing in a project, with the hope that the project will not reach the objective, and their money will be returned.

It is a less romantic reason and, most likely, less important than the one stated in the aforementioned article, but we must not forget that investing in innovative projects gives you a certain status, so don't underestimate this second reason.

Be that as it may, what is empirically demonstrated is that All-Or-Nothing campaigns work BEST than Keep-It-All campaigns.

2. Include a breakdown of expenses

In an article of Bekkers and Wiepking, of the year 2010, it is studied What criteria do people follow when donating to charity? It is true that a Crowdfunding It is not charity, but it has many similarities, so the study helps us.

This study explains that one of the decisive factors when giving or not giving money to a person, group or organization is the effectiveness with which it is going to be spent. Patrons want feel like your money is being well spent.

In this sense, it is worth mentioning that most Crowdfunding projects only indicate the total amount of money they need, without making a breakdown of the different expenses they will have and why that total amount is needed.

With these types of descriptions, patrons do not have the feeling that their donation has value, because They cannot see what specific needs they are meeting with their donation.

In addition, there is a greater feeling of possible deception, because within a very high and undisclosed amount of money, inefficient or even fraudulent expenses may be included.

To solve this problem, the most effective thing is to break down the expenses that the project will have as much as possible. In the project description you have space to do this.

Indicates clearly how much money you are going to spend on each thing and how the sum of it all leads to the figure you are asking for, and I assure you that you will get a greater amount of donations.

Strategy 2: Build a reputation

We have already talked about how to reduce patrons' perception of risk in general terms. Now we have to reduce the risk in a fundamental aspect: Your person.

In this 2013 study, the types of risk that determine whether or not patrons donate in Crowdfunding campaigns are examined, and we find these three types:

1. Incompetence of the creador
2. possibility of fraud
3. Risk of project

As you see, of the three factors, only one is related to the project itself. The other two are directly related to you.

In the study itself it is said that:
"Potential patrons often lack confidence in the abilities and skills of the creators, and do not know if the creators are trustworthy. […] Therefore, aspects of quality and integrity are important when deciding whether to support a project".

By giving creators the importance they deserve, you will have a strength against most project descriptions seeking investment. And most creators focus the descriptions of their projects on the project itself, and not in the creators behind it.

This is a big mistake. Patrons are investing in your project, but They are also investing in you. You have to make them feel comfortable when they give you their money, and to do this, you must be credible and trustworthy.

For all this, you must not only trust in the importance of your project, but you have to expose your professional background and reputation.

Here we give you some tips so that patrons trust you more and, consequently, are more willing to give you their money:

1. Show your resume

The best way to expose your reputation is to include it in the project description the education and training you have received and the successes you have had in the past.

Education and training play a fundamental role in this type of investment. For example, this study explains that digital startups have a better chance of obtaining financing if, among their founding members, Is there anyone who has a doctorate?. In another study it is shown that A degree in Business Administration and Management has similar effects.

If you have a higher education, don't be afraid to mention it when you talk about your background. If you do not have higher education, It will be preferable that you do not make explicit mention of the studies.

Regarding past successes, you should keep in mind that patrons will have an easier time donating their money to those projects that have a creator who has already been successful in the past.

This study indicates that those Crowdfunding carried out on Kickstarter whose creator has already been successful in other Crowdfunding from the same platform, get more investment.

But past successes do not necessarily have to be successes in others either. Crowdfunding. All those successes that you consider related or worth mentioning, you should mention them. Patrons donate more to those projects whose creators demonstrate success in the past.

2. Donate to other projects

Reciprocity has spectacular value and power, believe me. There are two facets of reciprocity:

1. Direct reciprocity: It's when you do something for someone else, and that person feels obligated to make it up to you in some way.
2. Indirect reciprocity: It is when you do something for another person, and third parties who are aware of what you have done, feel obligated to compensate in some way.

When talking about reciprocity, people tend to think, above all, of the first type. However, in Internet environments, the second type has very high importance, as indicated in this study.

And Crowdfunding platforms, after all, are online communities. In fact, another study indicates that, on Kickstarter, people who have made donations at some point, are more likely to receive funding when they publish their own project.

In the aforementioned article it says:
"Kickstarter shows in the personal profile the number of projects the creator has supported in the past. […] Our hypothesis is that this information makes early patrons more willing to invest money in those creators who have already proven to be good members of the Crowdfunding community".

In summary: If you invest in other projects, people will be more willing to invest in your own projects.

Strategy 3: Be personal and make the patron empathize

If you want someone to give you their money, you have to address him personally.

When we feel directly challenged (and if, in addition, to a certain extent, we empathize with the other person), we tend to feel a certain discomfort, and, consequently, we are a little more willing to act on behalf of the other person to reduce that discomfort.

In this section we are going to see how to make your communication more personal and get the patron to empathize with you:

1. Look at the camera

When we look someone in the eyes, we feel directly questioned and we tend to empathize.

A test was done in which consumers had to make a small payment to use a certain service. For 10 weeks they changed the images behind the text that indicated the characteristics of the service: Sometimes they showed a flower, sometimes they showed a pair of eyes.

The result was that, when the eyes were shown, there were more consumers willing to pay for the service (up to 3 times more). But while eye pictures are effective, they're not the only way to benefit from the power of looks. In this study, it is shown that, looking into the eyes of the person who may or may not give the money, a higher success rate is achieved.

In conclusion, you can have greater success if you follow these tips when recording yourself on video (yes, you should record yourself on video as you will achieve greater success, as this other study shows.

You may find it difficult to give your speech while looking directly into the camera. To solve this, you can memorize the speech, use a teleprompter, or improvise it (although I don't recommend it if you don't have a little skill in rhetoric).

2. Use second-person narrative

This technique is based on the union of two others: use of the second person (i.e., address the person reading you), and the use of hypothetical stories in the form of a narrative.

First of all, it should be noted that you can achieve greater success if you use the second person when writing, since it will allow you to address the person who reads you directly, so you will feel challenged and empathize with you more easily, as this study points out.

In addition to the above, you should use some narrative in your description. The narratives, as he points out, help to overcome the reluctance of the potential patron in two different ways:

1. They reduce your audience's tendency to counterarguing your message.
2. your audience Identify the different characters in the story, and relate the message you are giving to your own life.

How to get the most out of this? Write a story with a second person point of view. You don't need to write the next Nobel Prize in Literature. Simply write a story in which the person reading you can feel reflected.

To make it easier to understand, if you are asking for money for a music project, for example, you can change the phrase “our music is relaxing" by "when you listen to our music, you relax".

You have changed your perspective: You address the reader directly.

Strategy 4: Make them feel guilty

It's sad to apply these tricks, but it is effective. More than once we perform good actions only because we feel guilty if we do not do them.

In this article by Estrada-Hollenbeck and Heatherton, published in 1998, which deals with this topic, the following is said:
"Good actions are sometimes motivated by feelings of guilt. When we feel guilty for not paying attention to our mothers, we call them on the phone. When we feel guilty about damaging property, we offer to pay for it. When we consciously or unconsciously hurt someone we are in a relationship with, we apologize.".

If the potential patron feels guilty, will feel a stronger impulse to contribute to your Crowdfunding.

Of course, you must be careful with these types of techniques. If you apply them incorrectly, can be counterproductive, since no one likes to be manipulated.

The techniques that I am going to give you below activate the potential patron's feeling of guilt, but they do not involve very obvious manipulation:

1. Compare low prices with pleasant products

It may sound strange to you, but there is a scientific reason behind this strategy. In a relatively recent study, researchers conducted a donation drive for a field experiment. During the process, at the time of requesting the donation, they compared the price of the donation with two types of products, one useful and one pleasant:

1. Utilitarian comparison: They compared the price to, for example, a bar of soap.
2. Pleasant comparison: They compared the price to, for example, a bag of candy.

The result was that pleasant comparisons turned out to have more effective than utilitarian ones.

The conclusion drawn by the researchers is that mental renunciation of something pleasurable created a feeling of selfishness (and, consequently, guilt) greater than the mental renunciation of something useful.

In his own words: “If during the donation request the value of the donation is compared with the value of a pleasurable product, the choice not to donate will generate selfish feelings in the person, which will increase the negative feelings associated with not donating.".

Bottom line: People don't want to think they're selfish. Consequently, if you generate that feeling in them, they will be more compelled to donate to your project.

2. Show your personal information

Social psychologists have reached some consensus about the identifiable victim effect. Basically, this concept refers to the fact that we feel greater empathy for a specific person than for groups of generic people (or generic individuals).

For example, in this study, participants were more willing to donate $5 to a particular African girl than they were to donate the same $5 to the millions of hungry people in Africa in general.

The more personal information you include, the greater the effect you get. In this other study, it was shown that the amount of money people donated to a sick child depended on the amount of information they received about him, Donations almost doubled if they added the name, age and a photograph of the child.

In this sense, when you are writing the information for your project Crowdfunding, include your personal information. Some of the information you should include would be your name, your age, your hobbies and interests, a photograph, etc.

With these personal data, you will be exposing your identity. With this you ensure that the potential patron who must invest in your project does not see you as just another number, but as a real person. And, with a real person in front of them, potential patrons They will feel greater guilt if they do not donate.

3. Make public the names of potential patrons

Identifiability has another side of the coin that affects patrons: If you publish the names of potential patrons, they will feel more pressure to donate. In this study, two people were asked to play a dictator game (one played the dictator, the other the subject) in separate rooms. It was shown that, when the subject received a photograph of the dictator, He began to play more cleanly than when he remained anonymous..

The researcher attributed this to some innate social norms, as he himself says:
"When people make decisions in public, they expose themselves to social sanctions that increase the benefits of acting in ways that benefit society and decrease the benefits of antisocial behavior. […] Even selfish people are tempted to act honestly when they are in public".

How can you apply this knowledge? The truth is that is not easy, since it has more to do with the developers of Crowdfunding platforms than with those who request financing through them.

Crowdfunding platforms should include sections where you can see the people who have visited or shared the project on social networks, so that their identity is exposed and, in the event that they have not donated, are more tempted to do it.

However, this possibility is currently not offered in most Crowdfunding platforms, so you will have to do it in a slightly more rudimentary way.

What you can do is track those people who have been interested in your Crowdfunding project and take your pictures from Facebook or Twitter, as well as their usernames. By making that build and publishing it in the project description, you will get higher donations in two ways (both based on what was previously explained):

1. People you have identified who have not donated: Those people who see that they are exposed because they have considered your project interesting, but who have not yet donated, will be “forced” to make a donation.
2. Other people will also be “forced” to donar: Since there are a series of identified people who have already shown interest in the project and who have donated, the people who have not yet done so and who do not appear on said list will be “forced” to make the donation, because the Identified people will function as “a society that evaluates the behavior (pro-social or antisocial) of the new potential patron.”

Strategy 5: Offer the right rewards

Crowdfunding platforms vary depending on the type of rewards they offer to patrons, following this criterion:

1. Platforms based on Donations: There are no rewards, people donate because they want to.
2. Rewards-based platforms: Non-financial rewards (e.g. products) are offered.
3. Loan-based platforms: Financial rewards (e.g. interest) are offered.
4. Platforms based on actions: Capitalist rewards (e.g. shares or dividends) are offered.

As far as possible, avoid donation-based platforms. It's hard enough to get donations from patrons in reward systems without relying on their good faith and generosity.

But, once it is clear that donation-based platforms are not the most appropriate, it is worth asking: What type of rewards should you offer? On Kickstarter they have made a list with the five most common rewards, Which are the following:

1. do you copy of the project (for example, from a music album).
2. Limited editions (for example, the same music album with some extra songs only for those who invested in the financing of the album).
3. Collaborations (for example, the appearance of the patrons on the album at some specific moment - not singing, obviously, but clapping or shouting).
4. Experiences (for example, visiting the recording studio or meeting the artists).
5. Regards (for example, with a thank you message to patrons on the back of the album).

However, just because they are the most common rewards does not mean they are the most effective. What are the most persuasive rewards? We are going to talk about that below:

1. Publicize the names of current patrons

In a study of Bekkers and Wiepking, Conducted in 2010, more than 500 cases of donations to charity were analyzed. The study revealed several underlying mechanisms that led people to donate.

One of the key factors was reputation. People experienced what they called “visible compassion,” or what is the same: People donated because they wanted other people to perceive them as compassionate people.

"What really drove [the donors'] behavior was the need to be seen as compassionate. And they wanted to be seen to be compassionate because they wanted to be admired by others.".

How can you apply this principle? Suppose you are seeking financing on a Crowdfunding platform for a game. In the official description (you can also do it on the official project website), publish the names of patrons who have helped you, depending on how much they contributed. In this way, for example:

1. Prominent place on the website and the title “Executive Producer” for patrons who have made the largest donations.
2. A little less prominent place on the website and the title “Producer” for patrons who have made donations of a medium amount.
3. Standard thank you somewhere less prominent on the web for patrons who have made smaller donations.

It is important that you give a prominent place to those who have made larger donations, since this create groups with aspirations, as noted: Patrons feel pressured to appear in the most prominent place, thus donating a greater amount of money.

On the other hand, you should mention that said publication of the patron's personal data is totally optional. In fact, this other study showed that, when you gave the option to publish the patron's data (and did not do it directly), donations increased. In his own words:
“Giving people the option to indicate whether they wanted to be identified, the results were better than mandatory identification. It would seem that this has to do with empowering people with respect to the choice of whether or not to publicly display their donations - even when it is a "false" option, since no one would reject [the option of having their donation made public] -, which would enhance the feeling of leadership [caused by the donation].”

2. Offer tangible and practical rewards

This 2007 study showed that economic value was one of the most important motivations for patrons when supporting a Crowdfunding project. Potential patrons have the need to feel that they are receiving fair compensation for the money they are giving.

The researcher realized that tangible goods were perceived by patrons as an element with greater value:
"[…] A tangible reward has a positive effect on the intention to invest. Receiving a tangible good is important to patrons and represents the intention to seek value [on the part of the creator and the project].”

It is worth adding that, among the different possible tangible rewards, those that They were practical They were the ones that most motivated investment.

3. Add several levels of rewards (and some of them are humorous)

Most Crowdfunding platforms offer the possibility of using different reward levels (that is, if you donate €1, you receive X product; if you donate €5, you receive Y product, etc.).

In this study, all the projects that were created on Kickstarter between 2009 and 2012 were analyzed. The researchers verified that the projects that obtained satisfactory results, They had offered a large number of reward levels.

And this makes a lot of sense for several reasons. One of them is that patrons participate in Crowdfunding platforms. mainly for fun (as shown in this other study), and, the greater the quantity and variety of rewards, the more fun and attractive your Crowdfunding campaign is.

Based on what was discovered in this study, you may consider adding some Joking, humorous, or experimental rewards. This point was taken to the extreme by the members of PXXR GVNG, a rap group that in their Crowdfunding campaign to finance a video clip, offered, among other things, the possibility of one of the members tattooing the patron's name on his face. .

You may be thinking that in the previous point I recommended offering tangible rewards, and at this moment I am suggesting that you offer rewards with a certain tone of humor (which will rarely be tangible).

It's compatible. Tangible rewards are effective because They offer real economic value to the patron. However, humorous rewards can also be effective, because, even if they are not tangible, They also add value to the patron (the fun).

Be that as it may, since both concepts are not exclusive, You can consider offering rewards of both types. At the end of the day, that should be your goal: Offer the greatest amount of rewards possible with the least investment possible.

4. Add new rewards in the final stages

On most Crowdfunding platforms, creators can adjust project details over time, and this can be especially useful.
In another study it was shown that you can generate a very powerful effect adding new reward levels, especially when the project is about to reach the goal.

Researchers attribute that to contrast effects. In his own words:
“[…] The initial reward offered in the campaign tends to serve as a reference point, and additional rewards tend to change the perceptions of patrons and potential patrons and alter their decisions.”

Strategy 6: Attract the first patrons

The first patrons are essential for the Crowdfunding campaign to be successful. In the researcher's own words:
“In general, the existence of several patrons who have already invested triggers participation. On the contrary, when the initial patrons are few, the fate of the initiative is cursed; A lack of first patrons generates a negative and unmotivating expectation.”

The author points out three reasons for this influence of the first patrons:

1. Learning by observation: When there are already some patrons, the others tend to consider it more important.
2. Mouth to mouth: The first patrons talk about their donation and your project to their acquaintances.
3. Helpful feedback: Early patrons can provide useful ideas for the creator to adjust the project to better fit the needs and interests of potential patrons.

In this section we are going to talk about some techniques to attract the first patrons to your Crowdfunding project, which will help you obtain a better result:

1. Share the project on your social networks

Many studies have shown that an important factor in Crowdfunding is geography. Most donations - especially the initial ones - come from people who live in the same geographic area as the project creator.

But there is a simpler explanation for this. It is not geography per se that is generating the initial donations, but the friends, family and acquaintances of the creator (who live near it, predictably).

This is what Agrawal, Catalini and Foldarb point out in a study they published in 2013:
“Friends and family play a vital role in the initial stages of fundraising. “Friends and family invest disproportionately very early, signaling to later patrons that capital is already built up.”

Most of the donations in Crowdfunding campaigns come from personal or emotional contacts that the creator has. In fact, this other study shows a correlation between the possibility of being successful in a Crowdfunding campaign and the number of friends that the creator of the project has.

Chances are, if you're starting a campaign Crowdfunding To finance a “large” company, think that you should focus on promoting the campaign among the audience potentially interested in the company. However, in this way, you will be excluding a much more important audience: Your personal network of contacts.

To maximize the success of your Crowdfunding campaign, you have to share it with your friends, family, acquaintances, coworkers... especially in the initial moments. You need those easy-to-get initial donations so that people outside your network will be tempted to make their own donations.
Finally, if you consider that your network of contacts is small and you believe that with a greater number of initial investors you can improve the reception of your campaign among other patrons, you can choose to buy some donations.

You can go to the different Marketplaces on the internet, and pay €6 for each €5 investment that is made. This way you can get a few extra initial patrons at a time. relatively low cost.

2. Offer the smallest donation possible

Most platforms Crowdfunding show the current number of patrons who have collaborated with the project in a prominent place (as much or more than the amount of money raised so far).

Potential patrons, as mentioned in this article, use this metric to determine the value of the project:
"[…] These statistics invite conjecture about the (unknown) quality of the project. A considerable amount of initial capital and a high number of early patrons are indications that many have already scrutinized the project, liked it, and placed their faith in the creators and their ability to complete the project.".
Since this metric has a great influence on potential patrons, you want to inflate it as much as possible.

A good way to achieve this is creating rewards that can be obtained for a very low donation (the lowest possible -generally €1). Even if it is a small donation, you will be increasing the total number of patrons who have collaborated in the project.

Thanks to this inflated metric, you will get more donations from other patrons.

Strategy 7: Maintain the momentum of your Crowdfunding

When you've already attracted the first patrons thanks to your network, donation purchases and low-cost rewards, what? How do you maintain interest in your Crowdfunding campaign? How do you keep your momentum?

Unfortunately, it's not easy to get it. In this article by Kuppuswamy and Bayus, published in 2013, more than 25.000 projects were analyzed in Kickstarter, and it was found that the investments of patrons over time they form a graph in the shape of a bathtub: Most patrons appear during the first and last moments of the Crowdfunding project.

So, in this section, we are going to see how to maximize donations received during the intermediate phase.

1. Choose a short duration for your project

When you structure your campaign, the different platforms Crowdfunding They give you the opportunity to choose the project duration. If you can, choose a short duration (Kickstarter's recommendation is 30 days).

In this article, nearly 48.500 projects were analyzed and it was found that projects with shorter duration were more successful. Because? The researcher who carried it out suggested that it could be because a longer duration implied a lower confidence in the project on the part of the creator.

2. Add free rewards when you reach certain points

Although most Crowdfunding platforms base their system on offering rewards in exchange for donations, you can also offer rewards for achieving certain levels of success in project funding.

For example, suppose you are trying to obtain funding to develop a video game and your main goal is €5000. You need them to invest €5000 to get the funds.

Within the project description, you could describe different rewards that will be awarded during the project if certain funding “goals” are met. For example:

1. When you reach €500, I will add a video showing the characters of the video game.
2. When you reach €1000, we will have an informal meeting via chat to talk about the game and the project.
3. When you reach €2500, I will show a transcript of what happens in the first scene.

None of these rewards cost money. However, They are incentives for people to donate., even in the initial Crowdfunding campaigns.

This general reward structure allows potential patrons to appreciate the value of your investment. If your project has a very large goal, a donation is a tiny fraction of the total. But if your project has small subgoals, a donation It can make the difference between reaching that goal or not..
That is, the importance of that donation is greater, and patrons can more clearly see the value they are providing (and what you provide to them in return).

And there are other benefits to using this strategy. In motivational terms, this study showed that people achieve goals more easily and with a better attitude when they are divided into small subgoals.

Plus, you can get greater reciprocity if you offer some type of experience to everyone for free. People see that “gift” you give them for free, and, consequently, they are more inclined to make a donation.

3. Keep Crowdfunding updated and set reminders

Several Crowdfunding platforms allow the option of post updates regarding the project. In this study it was found that the most successful projects were those that were regularly updated by their creators.

The researchers also examined what types of updates influence the success or otherwise of the project. They analyzed more than 8.500 projects on Kickstarter and found seven types of updates:

1. Social promotion requests: The creators asked people who visited the Crowdfunding project page to share it on their social networks.
2. Progress report: The creators showed information about how the fundraising and the campaign in general was progressing.
3. New content: The creators reported that they had added some new idea, feature or functionality to the project.
4. Reminder: The creators reminded people that the deadline to make donations was running out.
5. Answer questions: The creators answered the questions people asked.
6. New reward: The creators added new rewards.
7. Acknowledgements: The creators thank the patrons and people who had supported the project for their interest and contribution.

Of the different updates, the reminders They were the ones who contributed the most to encouraging donations. Other updates that worked especially well were the progress reports, new rewards and request for social promotion.

4. Focus on people who can empathize

When you are promoting a campaign, You shouldn't advertise in all directions indiscriminately. You should behave like a strategist.

To maximize your donations, you need to target people who can appreciate the value and importance of your campaign, as noted in this study.
Who are these people? In general, people who can empathize with your situation. For example, it has been shown that people who have experienced a major illness tend to donate more to research to develop cures and treatments for diseases.

You can apply the same logic to your Crowdfunding campaigns. If you are launching a Crowdfunding campaign to finance a video game, you can inform others about it people who will launch similar Crowdfunding campaigns in the past. Those people are the ones who best empathize with your situation.

Although you can inform all of them, the most effective thing is focus on those who were successful and reached their funding goal. These should be your main target to attack, since they will feel the obligation to help others in the same situation, just as they already did with them in the past.
Likewise, you can focus on workers within the sector in which your Crowdfunding campaign is located, since, in principle, they should empathize better with your situation than those people who have never been interested in developing a video game.
In conclusion…

Obtain financing through Crowdfunding it's not easy. However, the techniques mentioned throughout this article can contribute positively to reducing the difficulty involved.

Crowdfunding has made it possible to bring the possibility of creating great projects to people who, otherwise, could not do it due to lack of capital and financing. It is something that must be taken advantage of, and I hope that this article has helped you, who have so many spectacular ideas in your mind, get the money necessary to put them into practice.

Having clarified all this, I can only recommend that you get to work and get the financing you need for your project.