Key Intakes from Pozible Crowdfunding workshop Sep 2013

I am back! writing my weekly article ( been busy with our successful launch of the new LEA Latinoamericanos Empresarios Australia business and entrepreneurs network last night in Sydney, Australia.

As promised last week, please find below all the fantastic learnings and tips I grabbed from the Pozible Crowdfunding Workshop on Tuesday 3rd September 2013 in Sydney.

This crowd funding workshop was super valuable, specially now that eDigital has been engaged to help Vibrating Planet crowd funding campaign to be launched on the 27th of September 2013 at our Vibrating Planet launching party (All invited if you are in Sydney).

Pozible Crowdfunding Workshop September 2013 - Ambassador Suzie Nguyen speaking to the audience

Why people use crowdfunding
  • You can build an audience at low cost.
  • It allows to pre-sale your new products that are created as part of your project.
  • Unlimited potential to raise as much as your project can attracts.
  • It is fun! you will be very excited when successfully funding your project.
Tips for project and rewards participation
  • Involve people in your crowd funding project. The more they can participate and be part of it, the more they will be interested to support your project.
  • The above translates in creating "Intimate levels" of engagement that are unique to the project and rewards. Examples can be exclusive lunch/dinner rewards with project creators, donors to be part of the group that designs or selects the logo, supporters material (photos, stories) to be part of the project creative outcome, etc.
  • Quirkiness works - Be creative with your rewards structure. People love authenticity. It was mentioned a project where someone was raising to spend on a night out...then the the project raised $500 as the project rewards were so quirky and different.
  • Financial rewards are not allow in Pozible. You cannot give away money, shares, etc as part of a reward.
  • Top rewards can be companies that act as sponsors of that reward. Keep that in mind when negotiating sponsor opportunities. Sponsors like that as it gives them a level of certainty that they will invest to projects that are just successful.
Tips for funding target
  • Target the absolute minimum budget that is critical to get your project over the line, specially for first timers and project creators that might not have a strong or solid fan base.
  • You should budget for the creation, management and delivery of rewards as part of your funding.
  • Transparency is key! Supporters should be able to know exactly how you are going to invest/spend the raised money into the project. Provide exact details.
Tips for Marketing your project
  • Most of traffic comes from Project creators social media graph: Facebook and twitter accounting for the majority of traffic.
  • Contact every donor and say "Thank you" and remind them to invite their friends and family to donate.
  • Link from your project Youtube videos to your Pozible campaign via 'Annotation" feature on Youtube.
  • Once launched, you need to test your campaign and ensure payments are going through.
  • Decide on your voice and tone. Be consistent. Some might decide to NOT ask for donations. Instead, They INVITE people to be part of their project; to participate with in the project by contributing via crowdfunding website and get a fantastic reward from project creators.
  • You need extra Collaborators: you need to find more people who can contribute to your project and hence talk about and promote your crowdfunding campaign!
  • We need to mapout key Influencers and reach them: People like to follow what influencers do! Is there any respected industry leader who could endorse your project? Can you ask other popular artist to donate and do a little story with them on why they supported you? You need to get endorsements from any popular industry leaders and promote their support to your project via social media.
  • Flyers needed! When you meet new people during your crowdfunding campaign, a flyer needs to be given to them so  they can participate on your campaign. People do not necessarily remember web addresses. Give them an amazing flyer that they cannot resist following up when they get back home.
  • You need to map out our activities calendar! To keep people engaged via Social Media and as a way to remind them to donate, you need to plan and promote all your project daily activities during the the campaign period! You need to action this from the very beginning! Activities can be:
- Concerts and gigs you will offer.
- Collaborators you meet and start working with you.
- Confirmed places you will visit as part of your project and people who will be hosting you.
- Influencers you have met and endorse you project.
- Crowdfunding updates, money raised so far.
- Confirm sponsors
- Other collaborations and stories.
  • You need visuals! use photos and videos, and plenty of visual clues that our project is going to be successful!
    Setting up your Crowdfunding campaign
    • Video describing the project is absolutely essential for improving the chances of success. Make it less than 3 minutes long.
    • Video and project description MUST be authentic, genuine, transparent and honest.
    • Tone of voice is extremely important. Ensure you get it right. seek for advice from professional communications specialist or watch other successful funded projects.
    Last but not least
    Examples of successful Pozible crowd funding projects
    • Mr Black - $10.000 target successfully raised!
    • The two chair project - $3,000 target successfully raised!
    • Ton of Wool - $33.000 target successfully raised!
    • Check below Amanda Palmer - The art of asking video - very inspirational video.

    Pozible Crowdfunding Workshop Sep 2013 - Founder Rick Chen speaking to the audience

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