4 Ways to Increase the Likelihood of Crowdfunding Success

From Anne Giles Clelland:

I so enjoyed meeting Patricia Salber at the mHealth Summit.  I was impressed by the credentials backing her launch of a health crowdfunding site and engaged immediately with the authentic, expert way she discussed the mission and operation of her site and the possibilities she envisioned for our health app, Cognichoice.  And I am thrilled that Health Tech Hatch approved Cognichoice(TM) for crowdfunding

Patricia Salber and Anne Giles ClellandPatrica Salber, M.D., M.B.A., is the founder of The Doctor Weighs In, the founder of the crowdfunding site for health technology startups Health Tech Hatch, and Vice-Chair of the National Crowdfunding Association (NLCFA).

I asked Patricia Salber this question during a phone conference on December 13, 2012. :

"What is the top advice you would give  beginning crowdfunders on how to increase their chances of getting funded?"

She kindly answered:

1. Prepare.

Read and follow the crowdfunding site's directions, paying attention to every detail, write great content, and develop strategies for all aspects of your project – business model, network connection strategy, marketing strategy, every strategy. 

2. Activate your network.

Let members of your network know beforehand that you are going to crowdfund, personally invite them to donate and to share your project with their networks, continually update them, have new things to say in your updates, and thank them.

3. Be specific.

Express exactly what the money is for and what you would do with it.  Your network – and their networks – need to know from you what you're doing and why before they'll donate.

4. Benefit your target market.

Draw the picture of how your donors are going to directly benefit if your project is funded.  Let them know how donating to your project will ultimately be about them.

. . . . .

Thank you so much, Pat! So looking forward to crowdfunding with you!

Health Tech Hatch

Of further interest:

Cognichoice Crowdfunding Project on Health Tech Hatch Announcement
What Is Crowdfunding?

To follow the unfolding story of the crowdfunding of Cognichoice(TM) and our launch on Health Tech Hatch on January 15, 2013, please check out our category, Cognichoice on Handshake 2.0.

What Is Crowdfunding?
Who's in FRONT? Rik and Melissa Obiso

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