Crowdfunding West Virginia: What do you really need to know?

If your community is looking at “crowdfunding” as an option for raising money for a local project, it pays to do some advance research and learn from those who have gone before you.

But, sometimes searching for advice online can be a bit like going down the rabbit hole – the more you look the more confusing it gets.

So I thought I’d go ahead and do some searching for you, and help sift the true gems of information from the detritus of internet wisdom!

Over the next few weeks I’ll be passing along helpful insights from crowdfunding experts and people who have had success using crowdfunding to raise money for projects in their community.

“Crowdfunding is not about money – it’s about community.”

Here’s a good piece of advice I picked up from this website about crowdfunding: Kickstarter and Indiegogo are not about money. They are about community.

What does this mean? It means that good crowdfunding campaigns put an emphasis on communicating with their supporters, and building a “tribe” of people with a shared interest. If you can do that, the money part will often take care of itself.

Be good about keeping supporters updated on the status of your project, invite them to offer suggestions and get involved, and encourage them to share your campaign with their friends.

An important point to note is that most successful projects receive about between a third and a half of their contributions from their first, second and third degree of connections – that is, people you already know, the friends of these people, and the friends of these friends.

There’s your “tribe” right there. Treat them well, make them feel involved, and you have the cornerstone of a successful fundraising campaign. Read more.

Here’s another piece of advice: Share this post with your tribe, and stay tuned for more updates and info from the Hub…

And stay in touch: j.lynch@wvhub.org

Jake.