Crowdfunding for Musicians: The Crowdfunding Formula Successful Musicians Use

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Why Should I Use Crowdfunding?

Crowdfunding is a way to not have to come up with the money up front for a project. It’s also a way to guarantee the success of a project. If your fans are paying for it before it’s even out, you don’t have to worry about if they’re interested in or not. They already bought it before you even created it! Read the following steps to crowdfunding for musicians to crowdfund your next project.

1 – Choose your project

What are you trying to create? An album, a music video, an EP? Are you trying to go on tour? Before you do anything else, you need to know what your goal is. Make sure your goal is something your fans want too!

2 – choose your platform

There are a lot of crowdfunding platforms to choose from, and they’re all a little different. Here are some of the top options you should check out: PledgeMusic, ArtistShare, Indiegogo, Patreon, and Kickstarter. Look into these five platforms, and pick one for your campaign.

3 – Choose Your Goal

How much money do you need for your project? Make sure to include the platform’s cut and to pay yourself. Make your goal the absolute minimum it has to be so your fans don’t get discouraged. You may want to consider also having a stretch goal. This will motivate your fans to purchase bigger packages from you. Your stretch goal should come with additional projects. For example, if your crowdfunding campaign is so you can release an album, your stretch goal may be to also have one music video or limited edition merchandise.

4 – Create Your Pitch Video

Most crowdfunding campaigns have pitch videos. It’s the piece of your crowdfunding campaign that’s easy for your supporters to share. It’s a quick way to explain what your campaign is for and why people should get involved. Give them a reason to care in your video. Make it quick and entertaining. Also, be sure to grab their attention in the first few seconds of the video.

5 – Decide on your Rewards

Why should people be involved in your crowdfunding campaign? You want to include rewards at every price point. For example, if you’re doing a crowdfunding campaign for an album, your rewards could be: $10 digital download, $15 physical CD and digital download, $20 signed physical CD and digital download, $30 signed poster and digital download, $40 box set of new CD and 3 past CD’s,  $125 all of the above, $75 handwritten lyric sheet that’s signed, $300 Skype chat and mini-concert, and $1750 private concert. Choose your rewards and their prices.

6 – Choose Your Start and End Date

When are you going to launch this campaign? How long are you going to let it run? Most campaigns do best in four weeks, but this is up to you. You know your fans more than anyone. Choose your dates and publish your campaign!

7 – Get Initial Backers

No one wants to be first. So before you start blasting your campaign everywhere, you want to share it with your biggest supporters. Share it with your close family, friends and biggest fans first. This way, when you do share it out to everyone, you’ll already have some supporters on it!

8 – Get More Backers

Share it with everyone else! Post it on your TuneGO, Facebook Page, Instagram, Twitter,  YouTube, email it out, text it to people and encourage people to share it too.

9 – Keep Everyone Involved

Keep the people that have purchased from your campaign involved and excited about the process. Post on social media and to your email list how far you are from different goals. You can encourage people to buy another reward or to invite their friends to buy a reward too. You want to make them feel like they’re a part of the process and they’re making this happen. You also want them to feel appreciated.

10 – End Your Campaign

Now that your campaign has ended, you’re ready to fulfill the rewards you promised to people and complete your project. Make sure you keep everyone updated and do everything in a timely manner. You don’t want your fans thinking that you flaked on them!

Bonus Tip

Releasing new music is one of the most common things musicians use crowdfunding campaigns for. Crowdfunding campaigns are a way to guarantee there’s interest in your music before you put the time, money, and effort into creating it. But, it doesn’t guarantee that your fans will love your new music. Getting honest feedback on your music before you release it is the only way to ensure whether or not it’s ready to be released. With the TuneGO Song Review, you can get this feedback. You can choose between having 30, 75, or 200 people review your song. Head to TuneGO.com and log in to your artist account to purchase your TuneGO Song Review, it’s the only way to ensure your song is ready for your fans. For more information, check out our TuneGO Song Review FAQ’s here.

 

 

 

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