The Scientific Approach to Crowdfunding, part 8/8: Bonus Lesson, Make A Plan!


Plan


Today, Symbid presents the eighth part of an 8-week online series on how to crowdfund your idea. What's so special? It's based on scientific research by Laurs, Leeuwen & Loggies from the Erasmus University of Rotterdam (The Netherlands).



Today we present part 8 (out of 8): "Bonus Lesson: Make A Plan!".


When having read all the seven lessons in the previous weeks, there is one more thing to do in order to make your crowdfunding project a real success: Make a master plan! This is not just a standardized plan; this is a strategic plan you have to customize according to your needs and implications of the seven lessons. And to be honest, the seven lessons won’t be nearly as effective as with a well-thought strategic plan. In your customized master plan you have to set clearly how you’re going to involve your friends and family, who will be your target audience, how you will reward their financial and promotional support, how you will promote the project and communicate with your potential investors, and so on.  



You need to have a strategic plan to let potential investors experience your ideas to make this crowdfunding project a success in all its glory. An important aspect of this is that your plan needs to have a time frame, with a forecasted schedule for your efforts and for your achievements. A good example of this is Martijn Arets from Brand Expedition, and his plan towards his promotional efforts. To promote his crowdfunding campaign he symbolically brought the first stocks as a reward for his investors to the stock exchange on a carrier cycle decorated with balloons. Even Business News Radio (BNR) gave attention to his promotional stunt, but as Martijn Arets states: ‘’the timing wasn’t right, If I did this promotional stunt in a later stage, it would have had a bigger impact’’.



This indicates that the timing of all your efforts is important. Some crowdfunding platforms offer you the opportunity to once make use of their network to promote your crowdfunding campaign. For example, Symbid offers a spot on their homepage and attention through their Facebook and mailing. They advice the entrepreneurs to time these promotional tools strategically, which will be during a drop in investors.



When this is going to be your first crowdfunding project, or if strategic planning is not your cup of tea, it might be useful to receive help from experienced crowdfunding entrepreneurs or crowdfunding consultants. Crowdfunding platforms can give you advice and guide you during the whole process. Additionally learning from successful and not so successful crowdfunding campaigns can help you a lot. But probably the best way to strategically plan your campaign is with the help of crowdfunding consultants, as ‘’crowdfunding consultants customize your whole strategic plan to your needs and that of your potential investors, and this will get the most out of your project’’, as stated by Robert de Waal from Biogolf. Douw&Koren is a crowdfunding consultancy company that works with useful tools that can fully be customized according to your needs, such as a ‘Crowdfunding Canvas’ and a ‘Plan de Campagne’ helped Robert.



Whether you make your master plan by yourself or with the help of experts, the trick is to be flexible and adapt to the rollercoaster effects of your campaign. Stefan Vreugdenburg of restaurant Blauw increased the rent on the investments from 7% to 10% when €16,000 was invested in one week, resulting in €109,000 of investments in just one day! This example shows that flexibility and adaptability are key. So make your master plan according to the seven lessons, use expert help, and stay flexible to make your crowdfunding campaign a stunning success. 

Posted almost 6 years ago