Originally written by John Auckland on Small Business
Raising finance is tough, but there are a number of steps you can take to rescue a struggling crowdfunding campaign.
In my years of running a specialist crowdfunding agency, I like to think I’ve developed a pretty good intuition around what will work in a campaign and what won’t. In reality, I’m not often too far wrong, but I am still constantly surprised about which ones take off like a rocket and which ones have a hard time meet their target.
What causes a crowdfunding campaign to falter?
I think that one of the biggest issues can come down to timing, which is hard to predict. New regulations are published, trends change quickly and competitors launch new products to market ‒ all of which could hinder the chances of a successful raise.
Some campaigns struggle to get initial cornerstone investment. Instead, smaller investments drip-feed into the campaign page, never really giving it any momentum or exposing it to a wider crowd of potential investors.
‘One of the biggest issues can come down to timing, which is hard to predict’
Finally, and potentially the most manageable, is that crowdfunding campaigns can be let down by unclear messaging or simply a