How do you set your fundraising target?
Take the time to define your fundraising target precisely, based on the budget you need to achieve your project. But be careful not to be too greedy - be realistic! The question is not how much Kiwi Collecte can collect for you, but how much you can collect from your community on Kiwi Collecte.
You're probably thinking “Estimating how much I can collect isn't easy”. It's true... here's our suggestion for getting started: take the time to list all the people you can solicit for your campaign - EVERYONE! Don't underestimate your network - it's much bigger than you think: family, relatives, friends, friends of friends, colleagues, acquaintances, your community on social networks, and so on. Then put a possible contribution amount and a probability (100%, 75%, 50%, 25%) in front of each name on the list. Do the math - you've got a good start! Then extrapolate, bearing in mind that your estimated collection potential from your network should represent a significant proportion of your collection target.
Perception is also crucial in a crowdfunding campaign. If you set your goal at 100,000 dirhams and raise “only” 50,000 dirhams, your fundraising will almost be seen as a failure (“He/she only reached 50% of his/her goal...”). If you set your target at 50,000 dirhams and manage to raise 50,000 dirhams, then you've had a great success! You've raised the same amount in both cases, but the perception is different.
Another very important point: setting your target too high may discourage some people from taking part in your fund-raising campaign. Some contributors may think “the project owner is looking to raise 400,000 dirhams, and my 100 dirhams won't help him out, so it's not worth it...”. The more realistic your objective, the more your potential contributors will value the impact their contribution will have on your project and help you achieve it.
Finally, don't forget to anticipate the possible expenses of your fund-raising campaign, the cost of possible rewards (you can opt for symbolic rewards when you can) as well as Kiwi Collecte's service fees. Estimate these expenses as accurately as possible and add them to your target.
What is the optimal duration of a crowdfunding campaign?
The regulatory timeframe for a crowdfunding campaign is 6 months. In reality, however, your fund-raising campaign should last no more than 30 to 60 days. It may surprise you to learn that shorter campaigns tend to produce better results than longer ones. Creating a sense of urgency during the fund-raising period forces both you and your contributors/ambassadors to work harder, to communicate, to relay, to reach more people and therefore to collect more.
The timing of your fundraising campaign is also very important. Avoid any periods when you won't be able to capture your audience's attention. August, for example, is rarely a good month to launch a crowdfunding campaign. Likewise, avoid any busy news periods (international, sports, etc.) that focus the attention of your potential contributors and web users on social networks. Depending on the field of your campaign, choose the timing when you'll be the most audible!
Finally, choose carefully precisely when your campaign starts and ends. More than 50% of the funds raised are generally received during the first and last days of the fundraising period. For the launch, choose a week when you have free time to invest as much as possible, by sending emails, posting on social networks, contacting your network and organizing events. In the same way, close a week or a weekend when you can devote yourself to your collection to encourage “latecomers” to support you.
How do you write your story?
If a good story doesn't guarantee success, its absence is a sure guarantee of failure. Your story is an opportunity to tell potential contributors who you are, what you do and why you do it.
Two ingredients are essential for a good story.
Emotion: The act of contributing to a fundraising campaign is nothing like buying on an e-commerce site. You buy with your brain, but you give with your heart. A contributor needs to understand what you're doing, but above all needs to be sensitive to your cause and inspired by your project. Be personal, create an emotional connection with your potential contributors.
Legitimacy: People give to those they trust. Say why you're in a better position than someone else to take on this project. Tell what you've done in the past, what you've already done for your project. Be transparent and establish a relationship of trust with your potential contributors.
What format should your story take?
As we all know, our attention span has become very limited with the multiplication of solicitations and content. Few people will take the time to read your entire story. Be concise and clear in your texts, and choose a catchy title.
It's often said that an image is worth 1,000 words. For a crowdfunding campaign, it's more like 10,000. Campaigns with high-quality, personal photos and videos tend to raise significantly more.
What makes a good video?
A good crowdfunding video is one that's less than a minute long. Be effective, explain the problem you want to solve in a direct and transparent way. The aim is not to explain everything in minute detail, but to create an emotional connection with those who are going to watch it.
Be yourself, don't copy anyone. People value authenticity. A faceless video has 0 impact. Showing who you are and introducing your team is the first proof of your commitment to your project. Before a participant contributes to a project, he or she must first know who you are.
Finally, don't forget to...ask. Be explicit about your expectations and needs (contribution amounts, sharing). Be confident: you're not asking for a handout, you're looking for support, and you're giving people the opportunity to get involved in a project with impact!