Great ideas don’t magically fund themselves. This is the reason why one of the most frequently asked questions among entrepreneurs with different backgrounds and experience is: “How do I raise the money to start my business?”. Raising money through crowdfunding is challenging even for experienced entrepreneurs as it requires a lot of thought and efforts to be put into the process of development, launch and post-campaign stages.
The pitch deck of every crowdfunding campaign plays a key role to the outcomes of the endeavor. When creating a pitch deck that has the aim to impress VCs and angel investors, the approach is different than creating a pitch deck for the crowds.
Presenting to a broader audience is a bit more complicated than pitching to a single investor and all team members of the crowdfunding campaigns must take that under consideration when they prepare their project’s materials.
The good news is that there are steps to follow that can help you nail your pitch and gain competitive advantage and here we have filtered the ultimate crowdfunding pitch deck formula to the following five components.
We will not discuss the common elements that must be included in every pitch such as market fit, valuation, traction, and revenue model, but will emphasize on the substructions that really shouldn’t be overlooked by the crowdfunders in addition to the other customary elements.
The supporter’s point of view: “This is interesting! I want to know more.”
The elevator pitch is extremely important for crowdfunding campaigns as it communicates the vision and the mission of the company/project. Now is the time to present the problem that you are solving, to emphasize why its solving will be valuable for the customers and to introduce the solution to them.
The supporter’s point of view: “Compelling! I would like to share it with my followers.”
Nowadays, we are all living in a fast pace, valuing every second of our time. The busy lives that people live require everyone to be very selective in what they spend their time on. If you want to be compelling to the right target group, make sure that you have crafted enthralling video and visual content, presenting your campaign. People judge ideas very quickly, so make sure that you hit the nail on the head with the first try.
The supporter’s point of view: “Who stands behind this awesome project?”
As first impressions matter in every type of communication between two or more individuals, the crafting of the elevator pitch is critical. This leads to the importance of presenting and the people, who stand behind the project and will communicate with the crowds. The introduction of your team to the supporters is very important, so they will have an idea who actually the people behind the whole idea are.
The Spending Plan
The supporter’s point of view: “How the money will be used?”
Having clear plan of how the money you raise will be spent is extremely important element that interests not just the execution team, but also the supporters of your campaign. Setting the right money target is crucial as it may determine the outcome of your campaign, but presenting your clear strategy of how the money will be used is what can make your campaign successful.
The supporter’s point of view: “What we will get in return?”
The reasons why supporters decide to give their hard-earned cash to support a given project are many, yet having the chance to receive an awesome perk may be a great motivator. In your pitch deck, introduce he crowds to the unique and exciting rewards that you offer and you will increase your chances of involving more people in your campaign. People like cool rewards, but remember – you must be able to fulfill them.