A few weeks ago, I shared 8 ways to make money from music including crowdfunding. This time, I explain further what crowdfunding is, how it can help you develop your projects, the two ways to build a crowdfunding campaign and the two common mistakes to avoid. Check this out now!
What is crowdfunding?
It is the act of many people contributing money to a project in exchange for a good or service.
We can say that crowdfunding is a different form of patronage: instead of having one person giving a large amount of money, there are a few people giving small amounts of money in exchange of something.
It works online only and there are two ways to raise funds: via your own website or a crowdfunding platform.
In both cases, make sure to avoid these common mistakes:
• Undervalue the importance of communicating about your project
Build your crowdfunding campaign is a big step but it is not enough to raise the money you need. You need to go to the people and communicate about your project.
• Set an unrealistic fundraising objective
Some people are willing to help others with their projects but it doesn’t mean they will give all the money they have. You should also set a realistic fundraising timeframe that can increase the chances to achieve your funding goal.
You can raise money for different projects:
– To record, mix, master an EP, mixtape or album;
– To make a professional video and/or photos;
– To manufacture, distribute and/or promote your music;
– To produce new merchandises;
– To go on tour;
Most of the time, these different projects mean you will need to work with people and pay them: musicians, producers, (backing) singers, songwriters, photographers, music video directors, stylists, make-up artists, graphic designers, printers, etc. Nothing should be overlooked. Your project has to be clear and detailed to ensure to set the right funding goal.
If you are willing to build a crowdfunding campaign and need assistance, contact me by e-mail using the form of the Contact page and I’ll get back to you as soon as possible. 🙂
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