Dealing with Crowdfunding Stresses
Hi friends, Sarah F here!
We know as artists crowdfunding campaigns can be a big money-maker for a lot of us. It doesn't matter if you're trying to raise money for pins, art books, or something else, crowdfunding is a useful tool in the artistic community to raise funds and connect with new fans. But, with any big project, there's a big bit of STRESS that goes along with it.
I've run 5 KickStarter campaigns and a dozen pre-order crowdfunding campaigns so far and getting through it can be difficult, daunting, and stressful. My friend, Sarah D has a kickstarter running, so I thought what better time than now to pass along some of my best stress management tools for your crowdfunding campaign.
#1 Prep, prep, prep!
I know this step probably doesn't help you if you're in the middle of a campaign, but preparing for your campaign in the most organized way possible will help take the stress out of making sure everything is as it should be. Here's some things you should prep prior to launch:
Check out what other successful similar campaigns have done so you know how to structure your campaign text
Plan out your campaign text and visual images/videos/assets on a Word document or Google document beforehand so you can see where you're missing items
Plan out all of your social media graphics and posts beforehand, and use a tool like Buffer to schedule them on all your platforms
Plan your extras like website popups and email marketing campaigns in advance so you're not scrambling at the last minute
Know your numbers! Figure out how much you need to run the campaign, how much you want to take home profit, and make sure to budget for ads or anything else you may need to pay out of pocket for, don't just pick a random goal number. Always have an emergency buffer!
#2 Remember the quiet time
While the campaign is running, it's going to get pretty quiet. Most of your effort will be put into the initial launch and also in getting the last few backers you can. In the middle you can chill out and take a breather, prep for the end, or tie up any loose ends from the beginning stages like sorting out manufacturers and their individual costs and delivery dates. If possible, schedule some disconnect time for yourself, some time when you can get away from the campaign and do something nice for yourself or spend time with people. A few days off in the middle of the campaign to recharge will help you finish strong!
#3 Sometimes backers back out, and that's okay
As a seasoned crowdfunding campaign manager, I know that sometimes you want to count your chickens before they hatch. But when you're anticipating a few backers to stay when they end up dropping out, it can be disappointing. People back out for a variety of reasons: sometimes they don't want to wait, or maybe something came up financially. When they drop out, don't despair. Just make an effort to get a few more backers to replace them. It’s good if you have a close friend or someone you can talk to about these struggles. Try to keep your public facing updates positive so people stay encouraged about the project!
#4 Dealing with needy backers and unreasonable backers
On occasion, we've all seen it. The backer that doesn't answer their survey for 2 years, or the backer that has to complain about everything in the comments of every update you make. Most of the time these folks aren't doing these things maliciously; a complainy backer might just be an overeager backer that likes to be petted a little and reassured. Still, setting clear boundaries and distinct timelines can help manage expectations for your backers, so don't sweat it if you have to reply the same thing 76 times to get the point across.
#5 Keep people in the know
Most people are entirely reasonable. If you find yourself overwhelmed with your campaign's success, it is OK to take a break -- just let your backers know. The more transparent you are with your campaign the less likely people are to wonder what's going on with it. We are all human and know the feelings you're feeling -- be honest about them and set a dedicated time to return to the project after you've recharged. It is NOT OK to leave a project for 2 months without letting your backers have any updates and then show up like nothing happened. Let them know you're taking a breather, how long it will take, and give them an update when you return.
#6 Eyes on the prize
Your main goal for running a crowdfunding campaign is usually to sell something, but you also are engaging with the community and potentially picking up new fans. Selling products is great, but building a fanbase is even better. Treat them right and they'll stick around and back your next project, or maybe even become an avid collector of your art! Remember why you started in the first place and why you set the goal amount that you did. <3
What’s your latest crowdfunding project and how did you handle the stresses of it? Let us know in the comments!