Hello, this is Mori. Today, I’ve compiled some stories about crowdfunding failures.
In simple terms, I hope this article can serve as a tool for learning from the analysis of crowdfunding failures.
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Underestimating Costs
One of the first failures in crowdfunding is underestimating costs. Fundraising through crowdfunding involves costs and taxes, as well as fees, which can result in the total amount collected being less than expected.
Extending the Campaign Period
Extending the campaign period is not necessarily a bad thing, but it’s not a good thing either. This is because the crowdfunding display system tends to gather funds at the start and end of the campaign period. Therefore, a period of 20 to 30 days is probably just right.
Setting the Returns
Returns are essential in crowdfunding. As for me, I always include a thank-you email. It costs nothing, and emails are powerful. However, make sure it’s something that can realistically be outsourced.
Illustrations are Recommended!
Activity and Regular Updates
The crucial part starts here. Even if you have a good project, it doesn’t necessarily mean it will be communicated well. Therefore, put effort into publicity. In this regard, SNS is essential for broadcasting.
Attending Meetings or Parties
If you’re like me with few friends, or if you don’t want to bother people, attending meetings is also recommended. This is because real-life customer acquisition is more effective than SNS.
In particular, I always wanted to try handing out flyers, but I couldn’t do it because I couldn’t prepare the permits and flyers in time, haha.
That’s all for now.
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