All the buzz surrounding crowdfunding can make it seem like some kind of magical cash machine: put your idea online, tweet a few times, and watch the money roll in. What could be so hard about that? Everyone’s doing it!
It’s true that there are many thousands of active crowdfunding campaigns online at any given time, but plenty of them will fail to reach their goal. The last time we checked, Kickstarter’s full-funding success rate was about 40 percent; Indiegogo’s was about 12 percent. ioby’s? We’re sitting pretty at 80 percent!
We think our project leaders are so successful because with ioby, you won’t be tempted to just set up a page and let the money roll in (because trust us, it won’t). We provide the coaching and support for you to plan, build, and market your own campaign both on and offline to build donor interest and trust. Then (and only then) you’ll see the Benjamins.
Of course, any crowdfunding campaign can fall short of its target. In the past decade, we’ve supported over 1,600 local leaders in raising over $5 million to improve their neighborhoods. But between those many awesome successes, we’ve noticed some common missteps made by campaigns that don’t hit their mark. Fortunately, these gaffes are all avoidable. Continue reading Why do crowdfunding campaigns fail?