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I will shortly be crowdfunding for a building we are inheriting but need to renovate (don't worry, not on here!). It will serve multiple purposes, but particularly as an education and community outreach for a socially-deprived community.
I have a question, though:
We need at least £25k by June, while we could really use £100k in order to get things entirely in order. Are your thoughts that it would be better to state our goal at the lower end of things (the £25k), with the campaign ending in June? Or would it be better to set a £100k goal, and make it a one year campaign? Which sort of figure is more likely to attract attention, and garner support? Does the latter look unrealistic and therefore less likely to elicit a positive response?
What would STW do?
Can you not set multiple goals? I’ve seen crowd funding that said “if we get £25k we will do X; if we get £50k we will do X+Y and if we get £100k we will do x+y+z”
Generally too long a target time is a bad idea - people will put off commiting until nearer the time / see others do it etc…
Isn't crowdfunding normally the term when people get things back? I think you're just asking for donations
Isn’t crowdfunding normally the term when people get things back?
No, I think that's Kickstarter. I thought crowdfunding was just this.
We are already a charity; it’s just the expansion of the work that will be new. The building will make community service possible in a way it has not been so far.
Kickstarter
Is a brand name. Indigogo do the same thing.
I also bought an exhaust manifold from the, in administration, Caterham F1 team via the administrators, also crowdfunding.
I'm assuming you are looking for other funding to match this / this is match funding for other funding?
We have this monthly at work, and my only suggestion is to be careful about the 'cards collapsing' moment when you set up a crowd funder and it doesn't reach target for match funding...
Go for the lower amount and overfund.
- If you don’t hit 100k all your work is wasted, you may be able to scale back or raise funding from elsewhere with 50% already committed.
- Overfunding is like a fake queue at a nightclub. It will drive more investment.
If you are raising £25k try to raise the first 30% or so pre launch. You can then raise with 30% committed from day 1 which helps drive trust.
Make sure your page is half decent, ideally with video, links to people behind it and the charity. Most of these things look like a scam.
Good luck.