3.3- How to Get Crowdfunding for Artists.
The best crowdfunding for artists can be found on platforms where they offer a separate segment for funding creative projects and artists.
Crowdfunding has become a significant avenue for entrepreneurs, artists, and individuals to turn their ideas into reality by leveraging the power of the crowd.
What is Crowdfunding?
Crowdfunding is a method of raising funds for a project, venture, or cause by collecting small amounts of money from a large number of people, typically via the internet. This funding model allows individuals, businesses, or organizations to reach a broad audience and gather financial support from people who believe in their idea or cause.
Although it often sounds like money for nothing, most successful funding campaigns offer the backers some sort of value in return for their donations. This can be something intangible or symbolic, something inexpensive but very interesting for your supporters.
As you will see, there are different kinds of crowdfunding:
Kinds of Crowdfunding:
Equity Crowdfunding:
Investors receive equity or ownership in the company in exchange for their financial support. This is more common for startups and small businesses. Not useful for artists.
Debt Crowdfunding (Peer-to-Peer Lending):
Contributors lend money to the project or business, and the borrower agrees to repay the loan over time with interest. Not used often in the arts.
Reward-Based Crowdfunding:
Backers contribute money to a project in exchange for non-financial rewards, such as a product, service, or special access. Very common for creative projects.
Donation-Based Crowdfunding:
Contributors make donations to support a cause without expecting any financial returns. This is often used for charitable or social projects. Perfect for artists.
How to Get Crowdfunding as an Artist.
Before selecting a platform, thoroughly research each option to ensure it aligns with the goals and nature of your project. Consider factors such as fees, funding models, and the platform’s user base. Additionally, examine successful campaigns on each platform to gauge their compatibility with projects similar to yours.
Once you have made your choice, it’s time to create a crowdfunding campaign for yourself or your project. Here are some tips that may help you get the most out of your efforts:
-Clearly articulate the purpose and goals of your project. Explain why it’s important and how it will make the world a better place.
-Tell a compelling and personal story that resonates with potential backers. Share your own passion for your art and the journey that led to the creation of this project.
–Clearly outline the impact and how your project will improve the lives of others.
-Set Realistic Funding Goals and calculate the funding you realistically need to execute your project successfully. Be transparent about how the funds will be used and why each component is essential.
-Create a Detailed Budget and provide a breakdown detailing how the funds will be allocated. This builds trust and transparency with potential backers.
-Offer Appealing Rewards that are attractive and relevant to your audience. Consider offering exclusive content, early access, or personalized experiences for different contribution levels.
-Build a Strong Online Presence and establish a strong online presence on social media platforms, a project website, or other relevant forums. Engage with your audience and create a community around your project before launching the campaign.
-Engage Your Network and leverage your existing network of friends, family, and colleagues. Encourage them to support your campaign and share it with their networks.
-Create an Engaging Video that introduces yourself, explains the project, and conveys your passion. Keep it concise, visually appealing, and emotionally resonant.
-Communicate Regularly and keep your backers informed throughout the campaign. Provide regular updates, share progress, and express gratitude. This helps maintain interest and trust.
-Timing Matters. Consider the timing of your campaign. Launching it during relevant seasons or events may increase visibility and interest.
-Collaborate with Influencers and partner with influencers or individuals in the art community who may be interested in your project. Their endorsement can broaden your reach.
-Craft a visually appealing campaign page with high-quality images and concise, compelling text.
Remember, successful crowdfunding campaigns require effort before, during, and after the campaign. Engage with your audience, respond to inquiries promptly, and express genuine appreciation for your backers’ support.
The Very Best Crowdfunding for Artists.
-Kickstarter
Kickstarter is renowned for supporting a wide range of creative endeavors, from art installations and music albums to films and literature. They offer both fixed and flexible funding options, Kickstarter’s large and diverse user base provides artists with exposure to potential backers worldwide.
Artists retain creative control over their projects. Unlike traditional funding models, Kickstarter allows artists to pursue their vision without compromising artistic integrity, making it an empowering platform for creative freedom.
-Indiegogo
On Indiegogo you can choose between an “All or Nothing” funding model, where they must reach their funding goal to receive the funds, or a “Flexible Funding” option that allows them to keep what they raise, providing flexibility based on project needs.
Artists can create enticing perks and incentives for backers, such as limited edition artworks, exclusive experiences, or behind-the-scenes access. Indiegogo offers marketing tools and resources to help artists effectively promote their campaigns. These tools include email marketing, social media integration, and analytics to track campaign performance.
-Patreon.
Patreon operates on a subscription or membership model, allowing artists to receive regular, predictable income from their dedicated fan base, often on a monthly schedule.
Artists can enjoy a more stable and consistent income compared to traditional crowdfunding platforms. Patreon enables artists to create different membership tiers, each offering varying levels of exclusive content or perks.
This tiered system encourages fans to support at different levels based on the value they seek, fostering a sense of community and personalized engagement.
-GoFundMe.
Artists can use GoFundMe for a wide range of purposes, including funding creative projects, covering art-related expenses or addressing personal needs such as medical bills or living expenses.
GoFundMe emphasizes the importance of storytelling. Artists can share their personal stories, visions, and aspirations, connecting emotionally with potential backers and creating a compelling narrative that encourages support. GoFundMe offers a flexible funding model, meaning artists can keep whatever funds they raise, even if they don’t reach their initial goal.
