Mixing Up a Successful Crowdfunding Campaign

Crowdfunding is a popular way for musicians to overcome a tight budget and pay for time in a professional music studio. With a crowdfunding project, your fans donate the funds you need to complete a specific project in exchange for perks. Because your goal is to raise money, the perks are often priced a bit higher than regular merchandise, but your fans are satisfied knowing they’ve helped you achieve a professional goal.

Know Your Options

You have several options for crowdfunding, so choose the right one for your needs. Kickstarter is one of the best-known choices but it’s far from your only option. This site offers the basic framework for crowdfunding, but very little back-end support, so be meticulous about managing the details on your own. PledgeMusic is a better option for musicians who want a guiding hand, but you’ll pay for help from the pros. While Kickstarter takes just 5 percent of your earnings, PledgeMusic takes a 15 percent cut.

While these sites operate on an all-or-nothing basis working toward a specific goal, others like Feed the Muse let you take donations as they come. Pick a platform like Bandzoogle and you can sell your packages like merchandise.

Don’t Overcharge for What You Need

Your crowdfunding campaign isn’t the time to raise money for an overpriced recording studio. Don’t mislead your fans about the costs associated with mastering, mixing, music production, and a good recording engineer.

While it’s fine to use this opportunity to raise funds for time in a quality recording studio like The Carriage House, you don’t want to perpetuate the false idea that you need an outrageously expensive New York Studio to get the job done.  Book your time with the Carriage House  and you can enjoy top-quality audio music recording equipment in a Connecticut recording studio that’s removed from the hustle and expense of a big city.

Choose Great Rewards

Mixing_Up_a_Successful_Crowdfunding_Campaign

Image via Flickr by redtouchmedia

Rewards are an excellent way to encourage your fans to participate in crowdfunding campaigns, but it’s important to select them mindfully. Adding rewards mid-campaign is a logistical nightmare with a platform like Kickstarter that doesn’t have the functionality for it. Choose a lineup of rewards before you launch the campaign and keep them consistent so your fans don’t feel ripped off investing in one option only to see something better pop up later.

Choose rewards that are original and valuable to your fans yet affordable for your purposes. If your rewards are expensive to manufacture and ship, it will take a big chunk out of your overall earnings. Instead, opt for things like autographs, meet and greets, and personal experiences that are priceless to the fan but nearly free to you.

Figure out what you need to complete your project before launching a crowdfunding effort. This way, you can carefully design a campaign that will get you the funds for time in a spot like Carriage House Studios without overshooting your goal or setting your band up for failure. The right crowdfunding campaign can take your group to the next level.

 

 

Posted on October 29, 2015 in crowdfunding

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