Before you spread your wings and fly i.e. start your campaign, here is an EXTREMELY important prerequisite – an Initial Funders List.
We at BitGiving consider it as one of the most powerful tools for running a successful campaign.
So what is an Initial Funder’s list?
True to what it sounds like, it’s the list of people you can reach out to directly, to build initial traction on your campaign. According to our stats, campaigns that raise 20-30% of their goal in the first 7 days are mostly successful and what can be a better way to make sure that happens than to be prepared.
How long should the list be?
If your desired amount to raise is Rs 1,00,000, then you need 100 people to contribute Rs 1,000 (that was really easy math). This means that you should have at least 100 to 150 people on your initial funders list to whom you can speak to directly.
Here’s what a typical Initial funder’s list comprises of:
- Friends and Family: These are your best buddies who will bolster your campaign as soon as it goes live and become your first set of influencers. Consider them as the bulls that will give your campaign wings! (Side note: this article was not sponsored by redbull, I was just craving for one). So scratch your head and think hard about all those people you have spoken to about your dream project and who have shown interest, you don’t want to leave anyone out. Especially those that can be emotionally blackmailed to contribute and share.
- Professional Contacts: You might be surprised how helpful your friends at work could be. All those stories you told over those coffee breaks, will make them feel a part of your campaign. So don’t forget to write them an email, even those whom you don’t work with anymore.
- Alumni Of Your College/School: They are always proud to see a Junior/Senior/Batchmate doing something amazing. Tell them about it on your College FB or Whatsapp group or shoot an email on the Google group. We’re sure they will be happy to contribute in honor of the good times.
- Influential People In Your Network: Find out who can be a good influencer from your first or second degree networks. Get the right introduction and find ways to get them onboard, get them excited about the campaign and convince them to talk about your project. We’ll take up tactics to do so in our next blog.
Now that you have separated the list into groups, it will make it less demanding to make and send customized information. Gather email addresses, Twitter handles, telephone numbers, and other means of contact information in a single place. Keep referring to the list for follow ups. And remember, if they don’t contribute, remind them. They might want to give, it’s just that it’s not high priority for them. Keep the ego aside.
Here is one last trick, make a list of individuals by the amount you think every contributor will vow. This can likewise help you assess your financing objective and the amount you can hope to raise with the assistance of your community.
So what are you waiting for? Time to get your hand on those Excel sheets.
I hope these tips make you feel more confident about starting your campaign. Always remember that we have your back and are here to help. So write to us at email@example.com or message us on Twitter @BitGiving if you have any questions!