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Partnership Announcement: A&E + RocketHub = Crowdfunding Goes Big

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Most of your initial funding will come from your network. And that is for one basic reason: Trust. It is the catalyst that gets the funding ball rolling. As you prepare to launch, view your network as having three tiers.

Catalyze Funding

Tier 1 - Friends, Family, and Dedicated Fans - Contribute first because trust and relationship is already established (plan to reach out to a few before you launch so they are ready for their role as catalysts)

Tier 2 - Friends-of-Friends and Acquaintances - Contribute after ´trust signals´ are sent (i.e., see other people contribute or see other people buzzing about your project via online discussions or press)

Tier 3 - Broader Connections and the Crowd - Contribute last because it takes more work to gain their attention and win trust

Projects that raise the most are ones that start with Tiers 1 and 2, and build momentum into the Tier 3.

How do you do that? You need a simple plan.

STEP 1: How much do I need?

Factor in all people, materials, etc.

Notes: On RocketHub you can raise more than your budget.

STEP 2: How much money could I raise?

Look at all your social media connections, email list, and beyond.

Average RocketHub contribution is $75/person. Can your Tier 1 connections be galvanized to fund $500, $5,000 or $50,000? What about Tier 2? Tier 3?

STEP 3: What will it take to raise that amount of money?

  Basic $1,000-10,000 Intermediate $10,000-100,000 Advanced $100,000+
Contributors 40 to 200 150 or more 1000+
Campaign (days) 30 to 45 30 to 60 30 to 75
Time required (per day) 15 min to 2 hours 1 to 2 hours per day 2 to 4 hours per day
Campaign activity -Methodical, yet flexible and dynamic campaign plan, involving consistent emails and social media conversations. -Same as Basic, plus.
-Blog influence.
-Same as Intermediate, plus.
-Press support and broader reach.
Relationship with network -Established trust between the Project Leader(s) and their Tier 1 and part of their Tier 2 network. -Established trust between the Project Leader(s) and their Tier 1 and Tier 2 networks, and part of their Tier 3. -Established trust between the Project Leader(s) and their 1st, 2nd and 3rd Tier and beyond (see Go RocketHub Viral)
-Many times Project Leaders are stars in their niche/community, and have an engaged and energized fanbase.

Note: 30 to 75 days works best for most projects. Shorter timeframes require more time dedication and planning than many Project Leader(s) can handle amidst other priorities. Longer timeframes can become more difficult to manage as they lose a sense of urgency. Also, note that, generally, we have seen that projects driven by a team tend to raise more funds because they are able to tap into more networks.

STEP 4: What's your goal, timeline and plan?

Compare how much you need to raise, against how much you can raise, against how much effort it will take to raise your ideal amount. If what you need is more than what you think is realistic to raise, then you may want to adjust the size of your project (i.e., break it into phases or pieces and fund one of those)




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So, you have your goal, timeline and plan. You are ready to post your project. Here are all the elements you need to have ready to ensure your network feels your passion (and maybe A&E will too).

Project Title

  • Write a title that differentiates your project - use words like "support", "fund" and avoid words like "help", "donate"
  • Make it relevant and catchy via intrigue, humor, and authenticity
  • Include your name and/or the name of your organization

Project Description

  • Introduce yourself
  • Keep it to 3 to 5 paragraphs
  • Have a tone that is reflective of who you are
  • Tell the back-story of your project and your journey until this point
  • Touch on "why this project matters"
  • Include high-level details on where the money is going and what your are trying to accomplish
  • Explain how RocketHub works to liberate ideas
  • Make your call to action (i.e., what you want people to do [fund] and why) clear and compelling, convey "I need you to make this happen"
  • Be authentic, be confident, show passion for your project and passion for adding value to others
  • Talk about the unique Goods each funder will get in return for their contribution

The Goods

  • Have the goods your are going to offer in exchange for funds designed and ready. See Create the Goods below.

Video

  • Video should be considered mandatory. Projects with videos have a much higher likelihood of funding. Videos show you are a real person who is credible and trustworthy. Videos engage supporters in a more dynamic way than your project description. Plus, a good video gives viewers a reason to stay on your project page. And, most importantly, with a video, your project has a higher probability of "going viral." Don't forget to address the RocketHub community in your video - and thank them for taking a look at your project
  • Update your videos. You can make new videos to keep your audience coming back for fresh and dynamic material during your campaign
  • Be creative. You don't have to have a traditional video with the "talking head." You can use finger puppets, product demos, voice-over techniques, stop animations, etc.
  • Yet, keep it simple. Videos that work best are often shot with a smartphone or webcam
  • Make your call to action (i.e., what you want people to do [fund] and why) clear and compelling, convey "I need you to make this happen"
  • Where appropriate, include a video of a demo

Imagery

  • Images give you an additional way to communicate your message
  • Pick images that reflect who you are and what you are doing with your RocketHub project
  • Select images to showcase your Goods

Audio

  • You can upload an audio file to your project page
  • Audio can build additional credibility and foster further engagement
Tips on designing good Goods:
  • Be thoughtful about the Goods you offer - they are a core part of determining success.
  • Have a wide range of price-points: small ($5-$100), medium ($150-$500), large ($600-$1,000), and extra-large ($1,000+).
  • Ensure the Goods have meaning and value to your network and beyond.
  • Have the small level be easy to distribute (e.g., MP3's, digital still pictures, acknowledgements on a website); medium level is often physical goods, large and extra large levels are often live ⁄ custom ⁄ special goods, services, or experiences.
  • Make the Goods special, unique, in short supply (e.g., custom, handwritten, signed, numbered, limited).
  • Create a Goods menu that reveals your character and project brand.
  • Allow funders to be part of your project (e.g., their name featured, access to a live event, join in on production).
  • Use Goods to help funders feel like they know you (e.g., if you paint, do photography, love cats, work that into your Goods).
  • Offer experiences that get you to meet funders face to face (e.g., invite them to live shows, workshops, consulting sessions, tours, dinners), and provide these at various price points.
Examples of good Goods:
Acknowledgements:
Thank you on your website, on your product, in the CD liner notes, in the film credits, in your research report
Announcement at your event
Product named after funder
Tickets:
Free ticket(s) to the show, event, launch party
VIP tickets/access at the show, event, launch party
Versions of the finished RocketHub product:
Free or discounted goods or services (the ones your business or organization will produce once the project is done)
Digital, physical, "Deluxe version," or autographed version of album, book, app, product, art, report, etc.
Fun souvenirs
Experiences
A role in your project
Mentoring or consultation
An internship
Presence in the creative process, e.g., character names, product naming, song titles, walk-on acting role, etc.
Direct collaboration in your project, e.g., design, development, co-writing, producing, singing, performing, etc.
Keepsakes
Sticker, pin, magnet, mug, poster, t-shirt, etc.
Copies of your previous work or products Personal services
Lesson in something you know, e.g., audio production, business planning, welding, writing, coding, surfing, cooking, film, etc.
Customized work, e.g., artwork, code, writing, music, etc. Personal performance or demonstration
Direct interaction
Post card, email, phone call, web-video, etc.
Invitation to launch party, ceremony, backstage, etc.