Always willing to give crowdfunding advice, Indiegogo‘s Slava Rubin sat down with CNN Money to offer up his very own tips and tricks for those looking to use the funding method successfully.
During the interview, Rubin noted how important pitch videos are to campaigns:
“Campaigns that feature videos – about the startup and the products – typically raised 114% more money on Indiegogo compared to those that don’t.”
Discussing how “word of mouth” is important to campaigns, Slava shared:
“Get your inner circle of friends, family and customers to fund you and to spread the news about the campaign. This will get the momentum going.”
Noting that organizers should stay in contact with backers, the CEO and co-founder of the platform stated:
“Campaigns that provide updates every five days raised twice as much as those that update every ten days or more.”
He also revealed that organizers should definitely avoid discussing the funds and talk more about the project:
“Don’t get stuck telling people why you want the money. You have to explain why the product is interesting and relevant to them. Be authentic about it.”
In regards to backers’ feedback, Slava added:
“Listen to what your customers are telling you. It’s a way to gauge market validation for your idea.”
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