Why not try crowdfunding if you are short of the required funds to pursue your dream project? It may sound intimidating, but many research scholars have executed it before. If you are struggling to make ends meet for university, crowdfunding is probably not the first thing that comes to mind it is not the simplest way to earn money, and it certainly is not for everyone.
However, if you are skilled at marketing yourself online and have a compelling tale to tell, a education crowdfunding campaign for higher studies could be ideal. Crowdfunding relies on the benevolence of others (family, friends, academics, and strangers alike) to donate to a cause – in this scenario, the costs of the degree.
Individuals can create an online crowdfunding page, using platforms such as Ketto, and promote it to the general public, the press, and the internet. All of this is done in the hope that generous individuals will contribute to someone’s financial goal. Share with the world your narrative and clarify why you are requesting donations on your fundraising page. You must also set a financial goal that corresponds to the expense of the degree and be factual.
In this article, we are going to share tips on how to set up a successful crowdfunding page for a Research Project.
Start preparing as well as research
The said piece of wisdom will not collaborate for campaigns with an emergency need or a very short deadline, but if you do have the time to plan the crowdfunding campaign, you should. The much more successful crowdfunding campaign planners study and prepare for their campaign’s launch for just an average of 11 days. Depending on the nature of your campaign and your fundraising requirements, you may require more or less time.
Tell an engaging story
Often these people base their spending decisions on emotions rather than logic. They prefer to spend money on activities that cause them to feel positive about themselves, so you must describe the outcome of your project in such a way that prospective donors understand what they will gain by supporting it. Try changing the point of view so that you see the fundraising site as a source of self-satisfaction rather than a source of funds. You are providing donors with the opportunity to feel good about themselves after aiding in the discovery of a cure, solving a long-standing mystery, or challenging unconstructive assumptions. After all, you are allowing them to assist you in learning and succeeding.
Explain your project in simple, easy-to-understand vocabulary that is appropriate for beginners. Define the project in a manner that allows prospective donors to envision the result. Pick a good picture that is visually appealing and adds to the story of your project.
Select the appropriate campaign duration and target.
After all, individuals must always request what they need, including both in terms of money and time, but in that context, it is indeed vital to know that more is not better. While Ketto allows project owners to set a funding goal and a campaign duration of up to 45 days, projects at the higher end of the range on either count are statistically less likely to be successful. According to data from other crowdfunding sites, the middle ground is a funding campaign duration of around 30 days.
Make use of your private contacts
People you do not even personally know are much more likely to promote your project when they see others doing so. According to evidence from other crowdfunding campaigns, you should strive to raise 30% of your funding goal through personal contacts. This is the juncture at which visitors begin to have faith in a project’s success. Numerous social media networks correlate with greater crowdfunding campaign success, so post frequently on Facebook, Twitter, Instagram, and Snapchat. Also, ask the people in your channel to start sharing your posts with their networks, as connections to a crowdfunding campaign increase the chances of success. And don’t rely solely on public posts; make personal contact as well. Send Facebook private messages, Twitter direct messages, or even old-fashioned emails.
Reap the benefits of the campaign’s first few days
Other crowdfunding campaign statistics show that attempting to raise 30% of your target amount in the first week of a fundraising campaign result in an 80% chance of achieving your target. However, if you only elevate 5% of your target in the first week, your chances of meeting your goal drop to 50%. Another reason why the first few days of a campaign are critical is that projects are displayed in first-in/first-out order on the Ketto homepage. That means the most recently approved project is the first to be displayed.
Keep promoting your project throughout the campaign
Crowdfunding is not something that you set up and forget about. It necessitates ongoing involvement from project owners. Hashtags are effective tools for directing people to your post. Mix generic hashtags like #crowdfunding and #crowdfundingprojects with highly concentrated hashtags like #crowdfundingketto or #crowdfundingproject.
Continuing engagement with your supporters
Once you have designed, created, and initiated your crowdfunding campaign, you are already receiving feedback and donations. It is indeed time to express gratitude for the significant contribution and update your supporters on how the project is progressing. Remember you must make everyone who aided you feel like they are a part of the dream project. Make them aware by providing feedback, updating, and informing them of the next steps.
Small steps can lead to big results in big missions. This is the foundation of crowdfunding. Convincing individuals to contribute funds to your project is a difficult task. The concept of crowdfunding your academic dream project may seem unattractive, but giving up on your dream project should never be considered.