Crowdfunding best practices: Determine the optimal Timeframe

In Crowdfunding by admin

How do I find the best timeframe for my crowdfunding campaign?

Crowdfunding is a compound word and as we discussed in previous post and without an excited and engaged crowd there will be no funding and with this fact firmly planted in the mind of the organization raising funds. Let’s look at determining a realistic timeframe for our crowdfunding campaign. Everyone wants the money now rather than later, I get that.

30 days may already seem very long when you’re thinking about your YouTube channel, social media outpost, and email list to excite and engage your crowd, but setting the right deadline is another common mistake that many campaigners make.

If you have a large following and your goal is reasonable set your deadline to 30 days. However, if you are like most crowdfunding newbies you will need to exert some effort to implementing your integrated digital marketing plan.

We recommend a pre-launch period of at least 90 days and If you have doubts that you can mobilize your social network and get them to contribute enough money in such a short time then set a longer deadline for the pre-launch period.

Deadlines can be very stressful and add an unnecessary burden to campaigners. Running a subscription based crowdfunding campaign can be a great solution to this as it allows creators to set up a monthly recurring campaigns that supporters can subscribe to for as long as they like. One of the advantage of subscription based crowdfunding is that there is no deadline. A campaign goes and supporters get monthly perks in exchange for their support.