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B-Sides Episode #6: Getting Started with Crowdfunding

In our sixth episode of B-SIDES we talk about getting started with crowdfunding;  how to decide how much to ask for, what you should offer your backers as rewards for their support, and how to ask for help. We’ve also got a bonus segment from our recent interview with Amanda Palmer, where she talks about keeping it personal when communicating with your fans (and how she didn’t always approach things that way!)

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Highlights:

  • We talk about how to decide how much you need to raise in your crowdfunding campaign
  • Knowing how much you need to make your project happen is so important as it will help to set your initial crowdfunding targets
  • On setting targets: “how much do I need vs how much can I actually raise?”
  • We talk about the additional costs that you’ll need to factor into a crowdfunding campaign eg marketing / printing costs etc
  • We talk about how crowdfunding doesn’t provide you with an audience who will support you – you need to bring that audience with you
  • “Be realistic with the audience you already have, and think about how much you could expect them to contribute”
  • We compare different crowdfunding platforms and Marcio shares his experience of the ones he’s used
  • We talk about the different types of crowdfunding campaigns that are available, and the pros/cons of both
  • We talk about what you can offer to your audience in exchange for their support and some examples of what other artists have offered
  • “With your rewards you can be creative and offer something exclusive people can’t get anywhere else”
  • We talk about getting your audience involved and asking them what rewards they would like from you
  • “Make your audience feel involved and that they are getting something in return, rather than you simply asking for money”
  • “It has to be a two way relationship, it’s not all about asking – you have to give back”
  • Amanda Palmer shares some mistakes she made in the early stages of her career around communicating with her audience
  • “Being able to talk directly to your audience – I had to learn how to do that” – Amanda Palmer
  • “Things seem to go a lot better if I present the most honest thing possible” – Amanda Palmer
  • We hear how Amanda Palmer used to send out emails in the third person, but soon realised that wasn’t effective!
  • “Who am I serving by being anything less than real, especially when I CAN be real?” – Amanda Palmer

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