March 26th 2024.
On March 21, 2014, Kimberley McLeod, the founder of Elixher, a digital platform for the LGBTQ community, shared her journey of successfully funding her magazine through crowdfunding campaigns from 2011 to 2017. Her initial campaign raised over $10,000 on both IndieGoGo and Kickstarter, which covered the costs of the very first digital issue of ELIXHER.
When asked for advice on how to secure funding for small businesses, McLeod emphasized the importance of being creative. While social media is a great tool for raising awareness, it shouldn't be the only platform relied on to reach the goal. McLeod shared her own strategy of forming giving circles with friends and family, each with a smaller target goal, to reach a larger overall amount.
In addition to being creative, McLeod also stressed the importance of offering incentives to donors. By providing a variety of perks at different price points, such as products, rewards, and opportunities, it gives the audience a reason to donate. McLeod also suggested reaching out to local vendors for donations, which can then be used as giveaways during slower donation periods to help generate more buzz.
Another tip from McLeod was to ask for help and support from the community. By reaching out to individuals and organizations and asking them to share the campaign on their social media platforms or write blog posts about it, it can greatly increase the reach and potential for donations. McLeod also shared an example of a wedding expo that dedicated a week of sales to her campaign, showing the power of collaboration.
To keep the momentum going, McLeod recommended hosting an event or launch party to build excitement and rally people around the campaign. By conducting raffles and having donation buckets at these events, it can help bring in additional funds. McLeod shared her own experience of hosting a big bash towards the end of her campaign, which raised an additional $3,000 with the help of the venue donating a portion of the bar proceeds.
Lastly, McLeod emphasized the importance of staying connected with the audience and potential supporters throughout the campaign. This can be done through frequent updates, thank-you emails, and responding to questions or comments on social media. By posting updates and sharing progress, it helps keep donors engaged and informed. And once the campaign is over, showing appreciation through a thank you video and updates on how the funds are being used can strengthen the relationship with donors.
In conclusion, McLeod's journey of successfully funding her small business through crowdfunding campaigns serves as a great example of the power of creativity, incentives, collaboration, and staying connected with the audience. By following these tips, small businesses can increase their chances of securing funding and achieving their goals.
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