Crowdfunding is painful.
With standard conversions, people receive value immediately. They buy your product. Then they receive your product. Done and done.
That’s not crowdfunding. With crowdfunding, the end product doesn’t even exist. You need to convince people to give you money for something that they won’t receive for months (and possibly longer).
Sure, you can use perks and rewards to entice people. But the majority of donations come from people’s generosity. How to get more funding? What are crowdfunding best practices?
I scoured the academic research on crowdfunding, philanthropy, and helping behavior to understand when and why people donate money (and how you can use those principles for a successful crowdfunding campaign).Keep reading »