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Introducing Crowdfunding - Part 1
Crowdfunding is a method of raising small amounts of money from a large group of people using the Internet and social media.
Since I don’t know exactly when, but not long time ago, it popped up in musicians life as one of the possible ways to finance their dreams.
As Bob Lefsetz (if you don’t know him, subscribe to his newsletter, he gives a pretty interesting insight of the music industry) wrote, today a band, a solo artist, any one, has to release a pretty great, well mastered and amazingly presented album, before even thinking to present himself to the world, or record label.
Long time ago release an album was the arrive point, nowadays, in my opinion, is the start, unless you are a very lucky b*****d.
Crowd Funding is the answer for all those artists who don’t have any money, but great passion and clear objectives, I talked about an album, but you can try to fund your tour or any other thing you might need.
Start a crowd funding project gives you a real chance to sit down and really think about what do you need to achieve your goal, it’s extremely important to consider everything and to set a real and not exaggerated amount of money to raise.
Sure, you can ask 100.000£ but you'll probably never get it for a number of reasons that is useless to point out here and now.
Once you have decided how much, think about how.
Most of the crowd funding platforms from Indiegogo to Kickstarter require a video where you have to explain your project.
Well, you can be very simple and straight forward, just a camera, a sofa and you talking, if you do so, get the video reviewed by your worst enemy, or one of those friends of yours who wouldn’t shut up about how much you look like a moron in that video if you do, they HAVE to be honest, so,don't ask your mum.
The one man show video works more for the David Letterman's kind of guy, people with big personalities, sense of humor and tones of charisma.
If you are not, you might want to do something a little more elaborated, find a way to communicate yourself through your music in an original way, there are thousands of project, you have to be unique in order to stand above others. (Successful examples here http://www.indiegogo.com/imwithselton and here http://www.indiegogo.com/cossbysweater).
A big part that decides whether or not your project will be successful are rewards.
Rewards are those recompenses you give back to your benefactor in exchange of his money.
So guys try to think how much would YOU pay for the stuff you offer, try to have a wide variety of recompenses, so that any one can pledge, be creative, fun but be careful not to be ridiculous, and the more you ask the more valuable your offer has to be.
Tip: look at those who were successful, and at those who aren’t having it so much, be inspired by the firsts, don’t make the same mistakes of the seconds.
Once you have set your fund raising campaign there is only one thing to do next: SPREAD THE WORD!
Use everything in your power, Facebook, Twitter, Instagram, Google Plus, Blogs, screaming in the streets, ask your fans to help you with that, keep them always updated, make them feel that they are part of it.
Below you can find a list of the most popular crowd funding platforms, plus a couple of blogs you might find useful if you want to undertake the crowd funding journey.
Next time you will get a more detailed insight about crowd funding platforms and their differences.
http://www.crowdvalley.com/ (this is if you want to create your own crowdfunding platform!)
Article by Giulia Colli. You can follow her on Twitter at @Giulia_Colli.
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