By Ajaero Martins

Crowdfunding is a collective effort of individuals who network and pool their money, usually via the internet, to support a business or some other cause initiated by an individual or organization.  In other words, crowdfunding is an arrangement in which a “crowd” of people collectively raise the amount of money needed to support a project. It is the newest creative source of financing. Following are steps to running a successful crowdfunding campaign:

*Decide how much you want to raise and how you will use the money. Also, you must determine the number of days within which you can raise the amount you need.
*Decide when you want to launch the project. You can set anytime you want, once you are ready. However, you need to think about anything that must be completed before your crowdfunding campaign can begin, and work this into the expected timescale.

*Inform your team members about the campaign, so they can start getting involved and spreading the word. Campaigns (whether marketing, sales, fundraising, etc) are more successful when planned and executed alongside a team. You must let your team know the fund raising goal, the deadline involved and what is expected of them to make the campaign a success.
*Package your sales pitch and emphasize your unique selling points. Your goal here is to convince people to part with their money to support your business project. So, let them know how much you need and where that money goes. *Arrange with key influential contacts and ask if they will support and share the project. This is key to driving the project early, and ensuring support prior to the project. If you can guarantee as many as possible supporters before the campaign starts, you have better chances of success.
*Build social media following, and set up a blog if possible; long before the launch of the campaign. This is one of the main factors that will influence potential contributors. Facebook and Twitter should be your main target social media platforms. *To ensure maximum support for your project, you need to create exciting rewards so unique that no one can get it unless they contribute to your business. Above all, offer valuable rewards.
*Register with an online crowdfunding service (such as Kickstarter or Seedrs) and start posting your campaign. You need to add a short description that hooks people and develops their interest in your business. You will also need to add a long description that explains what your offer is all about and why people should support your business.
In addition, you will need to add links to your website, blog, and social media channels as well as pictures and videos that will illustrate your business concept more clearly.

The information required varies among crowdfunding services. But you should try to fill every field with the most appropriate information. *Launch your campaign – preferably with a launch party – and announce the launch on social media, your blog, other blogs, and other communication channels you can access. *Keep spreading word about your campaign as much as you can. You can never do this enough. Even if all your followers don’t contribute their money, you will still have them as ambassadors.