Is Crowdfunding right for us?

Are you considering a Crowdfunding campaign through a service like Kickstarter? This will help you decide if it’s the right idea for you and your band.

A Crowdfunding campaign calls upon your existing fans to show their support and get involved in the release of your new product. If you don’t have a reasonably well developed and supportive fan base, you’re better off building that up before investing your energy into a Crowdfunding campaign. Your target will also have to match up to your current fan base. The smaller your current fan base, the less money you’ll be able to raise. Budget and plan appropriately.

The money you raise will be coming almost entirely from your existing fans. Your campaign won’t help you win new fans. Instead, it’ll be an opportunity for your current fans to show their support and enthusiasm for your new project. The frenzied support from fans has helped artists such as Amanda Palmer really make the most of their campaigns on Kickstarter.

You need to know that you’ll be able to meet your promises with the goal you set. Make sure you’ll be able to produce what you’re promised with the target that you’ve set. Your fans are essentially buying a forward copy of your new CD. They’re investing their faith in you producing a good quality product which they want to be a part of.

A Crowdfunding campaign also needs a lot of attention. Planning and creating the campaign requires careful thought and promotion will need constant attention. Make sure you’ve got the time and resources to see it through.

So in conclusion, you’ll need a target which lines up with your established fan base.

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