From planning a campaign to reaching the funding goal, it’s fair to say that crowdfunding is something of an art form.
With an increasing number of artists turning to crowdfunding to help turn their ideas into reality, however, the partnership between art and crowdfunding is now taking on a new dynamic.
As crowdfunding has gained popularity as an alternative method of gaining capital, sidestepping more traditional methods such as bank loans or private investment, it now also complements the many benefits offered to the arts by social and government support schemes.
While building a crowdfunding campaign may feel daunting, the advantages of applying your time and effort to it may be enough to make your creative project campaign go viral.
Embrace Funding Innovation
Crowdfunding has helped to redefine how art projects seek financial support, opening doors for projects that may not have been discovered otherwise and offering an innovative way of obtaining much-needed funding to get a project off the ground.
It is also the ideal way to obtain funding for those unsure or apprehensive of the process of receiving it via more traditional methods. Following the clear step-by-step process provided by crowdfunding platforms such as ZAAR will help you to plan all the costs needed for the campaign, as well as setting a realistic funding goal.
Reach Large Audiences at Low Cost
Since most artists start small, crowdfunding allows them to reach a large audience quickly and with very little monetary outlay.
Crowdfunding offers you the chance to promote your project throughout your existing network, as well as gaining supporters outside of it that you may not have otherwise reached. To make the most of this, you should maintain your online presence, updating all your channels and social media platforms with news of the project – preferably even before launching the campaign. Remember to also keep your followers and backers updated with progress throughout.
Connect with your Audience
Building a good connection with your audience is crucial to crowdfunding success. Consider your project from your potential backer’s perspective, to try to build this connection. Backers are often attracted to art projects that they identify with creatively or when have some prior connection to the artists themselves, and so they may have a sense of belonging to the project.
You can tap into this as an artist through the rewards offered in your crowdfunding campaign, providing opportunities such as meeting the artist or giving pieces of their work. If you are successful make sure you supply these rewards accordingly.
Develop your Idea
As crowdfunding has eased the point for entry for artists to funding, so it has provided an easy route to obtaining early feedback from a project’s target audience that is useful in developing the idea further.
To make full use of crowdfunding as a validation tool, it is essential that you first create a concrete plan and reasonable timeline for the campaign, in which you consider how to promote your project to regularly engage with your audience, winning the backers and support that will ultimately realise the project.
Showcase your Project via a Digital Platform
Instead of creating a time-consuming and potentially expensive website to promote a project, online crowdfunding offers a far easier approach to giving your project a digital platform.
Through these platforms artists and creatives can highlight their art, project or idea, whilst building their brand and gaining much-needed exposure. Make sure that your campaign features an immersive narrative and, if possible, also contains an interesting video to fully showcase your project.