Crowdfunding for Artists – launching the best Art Crowdfunding campaign
The struggle of artists is well known throughout the world as a challenging and testing endeavor. They go through a lot of harsh circumstances while trying to pursue their art and they fail more often than not, due to the difficulty faced in earning tangible income from their art. As a fellow artist, I understand the fear of pursuing it professionally. I also understand how difficult it is to generate a sustainable income from your art.
In this article, we will delve into how crowdfunding can help ease the burden of budding artists and help them find their own backers who not only like what you are doing but are also willing to support you financially.
What is Crowdfunding?
Crowdfunding is a medium through which young entrepreneurs and artists can finance their business or artistic venture(project) by using small amounts of capital contributions from a large number of individuals. It provides a platform where entrepreneurs and artists can present their ideas to the internet users all over the world who can choose to make contributions to their ventures and projects. Contributions are usually made by an initial investor in return for a special benefit or reward.
There are various types of Crowdfunding like Reward-Based crowdfunding, Peer-to-Peer lending, Donation-Based crowdfunding, Equity crowdfunding, Real Estate crowdfunding, and more.
The type of crowdfunding depends on the purpose of raising funds and the nature of the object sought to be achieved. So, an artist raising funds for his next project can go for Reward-Based crowdfunding where he/she will reward their backers once the goal is achieved. Or they can go for Donation-Based crowdfunding where backers can go through the project details on the campaign page and then choose to make a donation for your project.
Crowdfunding for Artists
Crowdfunding is a fundraising concept where a community helps new ideas come to life. Having a successful crowdfunding campaign provides artists with needed money, but it also creates a base of fans and followers who feel that they have a stake in the artist’s success. If it wasn’t for the community supporting that project, it probably could not be completed by the artist on his own.
Anders Cederholm, Co-Founder of Artboost explains, “One of the main problems for exposing great art is that the art world has been traditionally difficult to enter. In order to have success as an artist, an artist usually needs to have a name and in order to build that name, the artist needs to have exposure. Nowadays artists have the ability to be crowdfunded online (In the past, this was a market that has previously been permeated by digital startups). This business model enables upcoming artists to get their feet in the art world with no curating principles, here all creative individuals are welcome”.
Crowdfunding opens up a new world of possibilities for artists where they can not only find the backers who will support their projects financially but also form the initial fan-base that is crucial in every artist’s career.
The Essentials of a Successful Crowdfunding campaign for Artists
A successful crowdfunding campaign for artists has some key elements which contribute to its success the most. In this section, we will take a look at the points you must take care of to start a perfect crowdfunding campaign:
The Perfect Title
Since this is the first thing that potential backers will see, it is best to invest time and thought in deciding what title would be best for your crowdfunding campaign as an artist. You must look at what you are aiming for with this campaign, and think of the best ways in which you can attract the attention of viewers. The title should not only showcase your need upfront but also illustrate your passion for the project.
A Persuasive Video
The video you prepare to feature in your crowdfunding campaign should be a personal one that tells a compelling story of the project and your background. It does not need to be professionally edited and produced but you must ensure high video quality and convey complete information regarding the project in the most persuasive way possible.
A well-defined Goal
Your crowdfunding campaign should have a well-defined goal that you are trying to achieve and such a goal should be clearly stated in monetary terms. The goal must also include a timeline in which you are aiming to achieve it. You can start a crowdfunding campaign after defining what amount of money do you want to raise and in what time period.
“Why” are you doing it
For every task that you undertake, there is always a “why” behind it, which motivates you to complete the task. You need to have a clear reason why you are undertaking to raise funds through a crowdfunding campaign for your art project. This “why” should be reflected everywhere in your campaign, the title, the video, and the description. If you yourself do not have a good enough reason to do the project, then surely the viewers do not have any reason to fund you for the project.
Examples and Links
In your crowdfunding campaign, please include all the relevant pictures and videos that are relevant to your project and help describe it better. Also, include links to relevant resources that potential backers can visit to check your credibility and make an informed decision on contributing to your campaign. The more information (text, pictures, videos, links) you provide about yourself and your art projects, the more credible your campaign would look.
When it comes to backing a crowdfunding campaign, no one wants to see their money get wasted. Artists launching a crowdfunding campaign for their projects should specify what will the money be utilized for and provide estimates of all the expenditures involved in the project. You must include all the costs which will be paid off using campaign funds so that transparency is maintained between your needs and demands.
Artists can choose to provide rewards to their backers for their contributions. Such rewards must be attractive and should work as an incentive for the backer to contribute to the campaign. The rewards should be something of value, something that will show your gratitude and commitment towards your backers.
Once you have reached the target funding for your crowdfunding campaign, you will have to keep posting regular updates about the project. The backers will wish to know how you are proceedings with your project and how their funds are being utilized. This is an essential step to establish your legitimacy and credibility for further campaigns and projects as well.
Start your Campaign Today
As an artist, once you have taken care of all the aforementioned points, you are ready to start your own crowdfunding campaign. Our advice is to formulate a complete strategy and plan for your campaign before starting anything. Having a plan in hand can go a long way to ensure that your crowdfunding campaign is a success.
Making a successful crowdfunding campaign may seem intimidating at first, but remember that the more you put into it, the more you will get out of it. Following these tips for your campaign will demonstrate to donors that you are passionate, committed, and qualified, helping you turn that dream art project into a reality.