6 Mistakes We Made In Our Crowdfunding Campaign - hypebot

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Chancius

Frankly I don't think crowdfunding works unless an artist already has a really strong fan (and large) fan base or has a product that fully intrigues newcomers. I don't think the second point holds much merit with music because music is so subjective in the first place. It really only applies to an actual, physical product.

The other thing is that no one really knows where the money is coming from. A campaign could get only half of its goal and the artist running it could put their own money in to reach the goal so they at least come away with something, rather than nothing.

Free album download at www.facebook.com/chancius

Erik Peterson

You're right in that a strong and/or large fanbase, and an intriguing product are quite often a necessity for a crowdfunding campaign. However, I'm a bit confused on what you mean by the second point holding no merit. Are you suggesting that incentives and funding end-dates are unnecessary?

Chancius

No, I meant about having an intriguing product...

Erik Peterson

Oooohhh...your second point. Got'cha...

Emil Koutanov

A very interesting article. If anyone's in Australia, you might be interested to know that we now have domestic crowdfunder. Who would've thought! Using it now to fund Vertigo - a Linux based audio mixing app.

Wesdavenport

Erik, thanks for being so candid and helpful. It's hard to admit to our mistakes, but you're helping artists learn through your experiences. Much respect.

Wes Davenport
wesdavenport.com

Joshua Emmitt

Also,the artist and/ or artitsts need to be reasonable with what they are asking, their vision and feasibility. You can get anything crowdfunded, but the more you are asking for the harder it is and larger of a fanbase that you would need.

For example; My project is planning a 2 leg mini tour. We are not invested in and are starving artist lifers. We are planning to build a campaign and just try and get a nominal (compared to some that I have seen) amount. Hopefully by just trying to raise enough to lubricate a tour and providing interesting incentives, will turn some heads.

I do completely agree with you Erik. Every thing that you brought up in hindsight is valuable for a movement and I truly needed to read at this intersection. Thank you for sharing and watch out.. if we do it properly, we may be stopping by your neck of the woods?! Good luck with your endeavors man..

-Joshua Emmitt
www.somethingcomplex.com

Brent

1 thing you did right: Get this article on hypebot.
; ) you can always turn mistakes into lessons learned.
Good luck,
Brent

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