Crowdfunding for your next music album or that dream tour is honestly an epic idea. We're sure you've thought about it a million times, especially after seeing fellow music artists do it and how! Whether it was the folk artist Mame Khan or the rock band Parvaaz, who crowdfunded their debut albums or our own femme superstars, The Vinyl Records, who crowdfunded for their music video, “Whims” – you want to know how did they do it. Here’s the success mantra of their crowdfunding!
1. Build a strong and vibrant community
As an independent musician your dreams and aspirations completely depend on the community of fans you’ve built around yourself. This community becomes all the more crucial when you’re trying to raise money. Because these are the guys who want your music and understand the challenges you face. Use your talent to bring these people together, talk to them, and appreciate them. It’s crucial you invest a lot of time into building a community that loves you and here are 20 things you can do on Facebook to engage with your fans
. The more creative and personal you are, the more loyal can be your fan following.
2. Set a budget that makes sense
Setting a high and unrealistic budget is a common mistake musicians all around the world tend to make. Set an extremely realistic and bare bones budget- not only because it helps you stay focused on exactly what needs to be done, but also because it’ll make the whole crowdfunding process less stressful. The best way to begin is by defining what exactly you’re trying to fund. Gain clarity on your goal (mixing, video, design), and what all you plan to cover (PR, Marketing) and carefully measure if that’s an attainable goal with the help of your existing fan base. More on this HERE
3. Plan rewards that are worthwhile
Rewards are much more than acknowledgement of your fans’ contribution. It’s actually a great chance to get to know your fans and build lasting relationships. Your target while setting the rewards has to be directed to appeal backers. Independent musicians who have succeeded at crowdfunding, generally connect with their backers on an emotional level. Don’t half-ass it. Make this a worthwhile experience the people who actually care about your music.
4. Don’t stop talking to your fans
People back people! Let your fans know at every step of the way how important they are. Thank them, talk to them, tell them why you do what you do, tell them your story. And most importantly, listen to them.
5. Be diligent
Acknowledge the harsh truth - the crowd isn’t looking for you, especially when there is a lot to do online. Forget funding your project, they might not find it. You have to make them by asking directly via emails or by using Facebook to may be run a few ads for your important announcements to make sure you are heard.
Master your marketing skills - smart content, the right platform, a brilliant pitch video. Be prepared as not everything will go as planned. We can tell you that as fulfilling as crowdfunding is, it’s not always a bed of roses. Remember, if you do things right, the internet itself will do the talking for you!