Ulule Ulule owl arrow Facebook Twitter Email Banque Nationale National Bank Back

The 3 circles of crowdfunding (and why they are crucial)

You have an exciting project you’ve been working on for a long time now, and you can’t wait to share it… But to whom? Who will contribute to your project? This is the first thing you have to think about when conceiving your project: who is my audience, what are my targets and how can I reach them?

Trust is the main element in a successful crowdfunding campaign. You need to simultaneously do the following: showing that you are competent, relevant, over motivated by your project and inspire trust to your visitors in order to convince them to support you.

Those three “circles” can help you reach your target. You need to conquer them one after the other.

Trust is the main element in a successful crowdfunding campaign.

The first circle: Family and friends

Your relatives will be your first support, they already know you and trust you. Their contribution to your campaign will give the initial push to prove your sincerity and your motivation. They help your project becoming credible in the eyes of people who does not know you yet. By contributing to your campaign, they bring motion to your campaign and draw your visitors in a funding dynamic you need in order to reach your target. They are your first target. Try to contact each of them by a personal email or phone call and keep in mind to clearly indicate the link of your Ulule page.

Never hesitate to talk about your project and your page with them, have them participate, ask them to leave a comment and remember to answer all of them. This is also something very important, it is the social part of your campaign.

Second circle: friends of friends, other acquaintances

Second circle represent your acquaintances. It’s your Facebook friends, people you met at a party, the gym, the grocery store, etc. This 2nd circle of supporters can be solicited when trust is already established. You must have already some contributions and positive comments on your Ulule page or on Facebook page.

This 2nd circle only needs you to convince them to become spokespersons for your project! It’s very important to take care of them, listen to their feedback and ask them later to share your project to their own circles.

The third circle: all these people you don’t know

It is important at this stage to really take your time. It is impossible to mobilize people if the first and second circle doesn’t support you yet on your campaign. It is possible to reach the 3rd circle through local newspapers, radio, blogs related to your project theme or even influencers from the web having a large number of subscribers, fans and readers.

As this circle is vast, it has a strong financial power. To get them onboard, there’s no doubt that you will have to work hard for sure! You will have to create a connection: emotion, humor, esthetic… Many are the ways to show your project is “for real” and that people can trust you will bring the project to term.

Be careful, it is extremely difficult to predict the impact of this third circle on your project. Put all your energy on your first two circles, and if the 3rd one follows too, that will be wonderful!

You also need to stay realistic and humble in your approach (while staying ambitious of course): not all crowdfunding campaigns are made to reach the 3rd circle! As an example, if you have a very local project, you might get mentions in local press, but not necessarily in national ones. And that’s ok! It’s only a matter of reaching the right audience for the right project.

Having a good understanding of the 3 circles of crowdfunding is a basic concept to bring your project to success. Always have it in mind and give your project the success it deserves!