{"id":483,"date":"2018-08-23T14:01:00","date_gmt":"2018-08-23T14:01:00","guid":{"rendered":"https:\/\/restiaka1.wixsite.com\/website-5\/single-post\/2018\/08\/23\/Can-a-crowdfunding-campaign-be-too-successful"},"modified":"2022-08-10T11:47:04","modified_gmt":"2022-08-10T11:47:04","slug":"can-a-crowdfunding-campaign-be-too-successful","status":"publish","type":"post","link":"https:\/\/website.clientdemoweb.com\/oggadoon\/can-a-crowdfunding-campaign-be-too-successful\/","title":{"rendered":"Can a crowdfunding campaign be too successful?"},"content":{"rendered":"
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It sounds impossible, doesn\u2019t it? A crowdfunding campaign, too successful? Surely that\u2019s a pipe dream! But in our experience partnering with exciting and innovative companies that seek fundraising through a crowdfund, it is a very real possibility.<\/div>\n
<\/div>\n
Overfunding can lead to a huge number of different challenges that you were not probably expecting. Here are just three that we have seen in the crowdfunding world – and how you can prepare for them:<\/div>\n
<\/div>\n
1. Too many rewards to deliver<\/strong><\/div>\n
If you have budgeted your time and resources to deliver, for example, 100 units of your idea because you\u2019re expecting around 100 backers, but you find yourself with 400, that can pose an immediate challenge. You\u2019ll need to figure out a method of manufacturing more quickly, or delaying delivery of some of your rewards – not a situation that you want to put your backers in.<\/div>\n
<\/div>\n
Prevent it by: setting a limit on the number of rewards that you\u2019ll deliver for each supporting tier, and that will make them feel more exclusive and drive demand. Make sure that some of your reward tiers don\u2019t include physical rewards, giving your backers a variety of options to choose from.<\/div>\n
<\/div>\n
2. Far more shareholders than you were expecting<\/strong><\/div>\n
If you\u2019re not delivering physical items but instead shares, you may have been expecting 30 to 40 – but complete your crowdfund with 70 new shareholders. This can be initially exciting, but then you start to realise that with more shareholders comes more voices, more opinions, more demands. Keeping them all happy is going to be much more difficult than you thought.<\/div>\n
<\/div>\n
Prevent it by: deciding actively before you launch your campaign just what rights and responsibilities your shareholders will have. Stating this openly at the very beginning of the campaign will carefully set expectations, and enable you to lead your shareholders, rather than the other way around.<\/div>\n
<\/div>\n
3. Unrealistic board expectations<\/strong><\/div>\n
For companies that already have a board as they enter a crowdfunding campaign, you\u2019ve already worked hard to encourage them to support your campaign plan, business strategy, and marketing spend. You\u2019ve told them exactly what you\u2019ll raise, and what you\u2019ll do with it – but now that you\u2019ve raised double your expected total, their expectations have doubled too.<\/div>\n
<\/div>\n
Prevent it by: addressing this in your business plan, and creating stretch goals for the campaign that are clearly ring-fenced for certain things. For example, if you raise 10% extra, you\u2019ll expand the R&D team. If you raise 20% extra, you\u2019ll add to the sales team. If you raise 30% extra you\u2019ll open a new office in a new city – you get the idea.<\/div>\n
<\/div>\n
Crowdfunding campaigns can be exhilarating and exhausting: it\u2019s all about getting the preparation done properly. Although it\u2019s easy to focus on the terrors of failure, sometimes you need to make sure that you\u2019re as well prepared for success.<\/div>\n
<\/div>\n
Worried that you\u2019re not going to get the word out about your crowdfunding campaign? Confused about all the press, social, and digital chatter? Get in touch here to start a conversation with the experts.<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

It sounds impossible, doesn\u2019t it? A crowdfunding campaign, too successful? […]<\/p>\n","protected":false},"author":1,"featured_media":711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[100],"class_list":["post-483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-crowdfunding-campaign"],"yoast_head":"\nCan a crowdfunding campaign be too successful? - OggaDoon<\/title>\n<meta name=\"description\" content=\"There is such a thing as a 'too successful' crowdfund. 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