Social Backing Success - New Zealand Crowdfunding
27th September 2012
In the first two months since the launch of social backing, we have had some incredible success stories! Probably the most obvious being the surf film project "Under the Weather".
This project was unique in that it had a fantastic project creator behind it that pushed thousands towards the project itself, with it being shared on facebook over 650 times!
This fantastic exposure, including a feature story on TVNZ's closeup were part of the driving force that helped this project reach well beyond its target goal of $14,000. Well done Damon!
Since the project met its completion date, Damon has managed to get out all of the rewards promised on time and is hard at work getting all the filming and editing done to get the dvd's made and the film launched. He has been consistant in updating his backers with updates and little sneak peaks of footage through out his journey.
So why was Damon so successful? I think it comes down to a mix of passion for his project, and the way he marketed his project so successfully. He managed to use his networks to score some awesome rewards and the message behind his project was one we are all interested in and can relate to.
If anyone has any questions, or would like to follow the "Under the Weather" project, then tune in to www.longwhitecloud.tv and register to receive updates or flick Damon and email.
Here is to more funding success and more great projects that Social Backing will be a prefered platform in raising not only funds, but awarness!
The New Zealand Crowdfunding Blog
18th September 2012
Hello Social Backers and crowdfunding enthusiasts,
Welcome to the New Zealand Crowdfunding blog
Every week we will be updating our blog on social backing and crowdfunding in New Zealand and around the world. The purpose of this blog is to show case some of the unique new projects that have recently launched, and tips on what makes a successful project. We will break down the crowdfunding process and help project creators to construct worthy campaigns and help backers make educated decisions on who they are backing.
Focusing on key trends in the industry, the New Zealand Crowdfunding blog will be a forum where everyone out their can send in their questions to email@example.com and we will do our best to respond to them in this public forum.
This week, socialbacking.com was featured on the Good morning show which show cased some of the successful projects the site has had in its first few months including on project called "Under the Weather", a surf doco and dvd to come out later in the year that raised over $18,000, smashing its target of $14,000. This became the second largest amount of funds raised on a crowdfunding site in New Zealand and had a record amount of backers! The rewards that were ready were shipped out before the due date which sets a fantastic precedent for social backing and something the site would like to keep going as trends in the market seem to show a large portion of late rewards.
New And noteworthy projects include a music project that reached its funding goal in just 4 days, and a fantastic project that will help create jobs in Haiti!
Stay tuned for more blog updates from social backing, and register to recieve this as a newsletter at the bottom of the page.
3 Rules for Successful Crowdfunding
2nd July 2012
For an increasing number of startups, crowdfunding is a way to get their companies off the ground when traditional avenues, such as abank loan, are not an option.
Crowdfunding is a way to raise money by getting small donations from a large number of people, and sometimes the end result is big.
Wondering if your business idea would be backed by a crowd of investors? Consider these three traits of successful crowdfunders.
1. An intriguing, clear story.
One reason that people give you money is because your story touches people, so you need to be able to express very clearly what you are trying to do and why it is significant.
“Crowdfunding is built around relationships,” says Meece. “It is a very human phenomenon.”
You have to be willing and prepared to put yourself in front of the crowd of investors and connect with them directly, through a video or photos. Meece says potential investors need to see enough of your passion to think, “Wow, I want to be a part of it.”
2. An existing network.
The process of crowdfunding depends on trust and reputation, so you'll need a core inner group to vouch for you and and help spread the word.
“Every successful crowdfunding campaign has an immediate first-degree network that jumps into that campaign,” Meece says.
But this doesn't mean you need to have thousands of Facebook friends, you just need at least a small group that is willing to step out on your behalf to get it going.
“No one wants to be the first one dancing on the floor in middle school,” says Meece. And investors have the same sense of hesitation: they feel better donating their own money when others have already, too.
3. Cool perks.
In exchange for their money, you'll need to offer investors a reward, whether it's a sample, the ability to vote on how a product is designed, or an opportunity to get early access to a product or service before it hits the regular markets.
Also, you'll want to offer multiple levels of perks to provide an incentive for a broader range of contributions. RocketHub’s most popular donation level is $20, but the average is about $75. And then there are the once-in-a-lifetime donations: “We have had strangers give $10,000 to campaigns. Crazy, absolutely crazy,” Meece says. “You have to have those higher price points there.”