Regarding the main errors that are committed in the planning and development of a crowdfunding campaign, the following can be distinguished:
The main mistake many projects make is miscalculating the price. Either too high or too low. In the first case, the users do not see the justification for the valuation with respect to the product that is presented, while, in the opposite case, the risk is to make a campaign too expensive for not having done well the numbers relative to the compensations or the dilution of the company (in case of a crowdequity). In any case, most platforms pull their experience to advise the teams on the issue of prices.
LACK OF A PLAN B
It has already been said that 7 days after starting the campaign there are enough signs to suspect its good or bad progress. In the second case, it is convenient to stop and find out what is wrong to take corrective measures. There are things that you will not be able to change once you have started, but in others you are still on time. Thus, if you verify that the feedback you receive is positive, but the conversion is low, it may imply that you are communicating well, but that the product does not like it. The same in reverse. For all this, it is convenient to pull the metrics.
Preparing to launch a crowdfunding campaign usually requires a minimum of 4 months. Previous intensive effort is required in terms of communication, both in the digital environment and offline. It’s about expanding your community, gaining visibility, even without having the finished product, and generating impact messages in your audience so that they themselves become your ambassadors.
And if preparing the campaign requires a great deal of effort, the pace of dedication can not decline while it remains in force. It is essential to remain attentive and satisfy the requirements and doubts of your potential investors. As an example, Francisco Rodríguez cites the case of an entrepreneur who devoted 30 minimum minutes to attend by skype to each of the interested parties. If the team is large, it could be allocated to a person exclusively to attend the campaign, but if you are only one, remember that during that time as much as possible is that you have to park the other jobs. The amount of energy that it absorbs is important.
The usual thing is that the crowdfunding platform does not charge for launching a campaign, stipulating only the collection of a percentage to success. This does not imply, however, that the strategy does not entail costs that must be considered a priori, from communication to logistics for shipments.