So you have a great mobile app idea and you want to move it into development. The only problem is that you don’t have the money you need to do that.
Crowdfunding could be the answer. Sites like Kickstarter have opened new avenues for people with ideas to source investment. Best of all, this investment usually comes from people who really believe in your project.
You need to know how to use crowdfunding to its maximum potential. These are our first set of tips, so combine them with the second set that we’ll give you later on to get the most out of your campaign.
Tip #1 – Choose the Right Site
There are tons of crowdfunding websites out there, which means you have to make a choice. Stretching yourself across several crowdfunding sites won’t work for several reasons. You’ll dilute your campaign, making it harder to achieve your funding goals. Plus, most crowdfunding sites work on an “all or nothing basis”. If you don’t hit your goal, you don’t get any of the money. Using several sites means people have too many places to go, so you may miss that all-important goal on each of the sites.
So how do you pick just one? It all comes down to the features the site offers. Research the site to find out about the sorts of projects its regular funders are interested in. You can also check out successful projects to find out if yours has any parallels. You’ll have more chances for success on sites that have supported projects like yours in the past.
Tip #2 – Create a Promotional Strategy
Some crowdfunding projects get off to fast starts, whereas others need time to build momentum. You need to plan for every step of the campaign.
It’s likely that your project won’t have much buzz around it at first, so you need to work on generating that buzz, both before and during the initial stages of your campaign. Use your social media pages to promote your idea and make sure you give your initial backers plenty of information. The more info they have, the better they can inform others about what you’re doing.
Appeal to the people that already know who you are and what you do. Encourage them to share your project with others and you should start building momentum. As importantly, make sure the rewards that you offer to your investors are things that they will actually want.
Tip #3 – Create a Great Pitch
Split your pitch into two parts: the elevator pitch and the main pitch.
The elevator pitch should be a quick snippet that tells people what the app does in as few words as possible. Try and slot a catchy phrase or two in there. What you’re trying to do is create something that’s easy to remember, so anybody who reads it can easily tell others about your project.
The main pitch goes into more detail. Use this to tell people about all of the details related to the app. Focus on the “how” as well as the “what.”
Combined, these two pitches should sell your mobile app to potential investors.
That’s part one of our guide to using crowdfunding for your mobile app. Part two is coming soon.