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27.04.2021

7 Things that Young Artists Should Know about Crowdfunding

Anne Eck is a songwriter and runs a music label that only features women. She realised her first album with the help of crowdfunding. Here she explains to you how to successfully launch a campaign.

Crowdfunding – this is how the campaign works

1. How do I know if my project is even qualified for crowdfunding?

This might sound hard but it shouldn’t be an ego project but, rather, a project that has some added value for society. This could be a cookbook, an album or the production of shirts from fair-trade cotton. Crowdfunding has its origins in the music scene in America, where young musicians said: Believe in me and support me and then you’ll get my album. But crowdfunding isn’t just about money. It’s also a great marketing tool that you can use to raise your profile.

2. What can you offer as a reward to the people who support you?

It doesn’t always have to be something huge or even something directly connected with the campaign. The more offbeat, amusing, or personal it is, the better it will be received. Of course, in the area of music the album should then go on sale. But, apart from this, it’s more about doing something original. In my campaign, I offered people the opportunity to be a DJ at a party. A friend had a huge stock of vintage clothes, which I included with the CD as a surprise for a certain number of purchasers. But I’ve also heard about an artist who offered five telephone calls with his mother.

3. Can I learn something from other crowdfunding campaigns?

Definitely, one doesn’t have to reinvent the wheel. You can find lots of projects at www.wemakeit.com. The best approach is to scroll down the list and ask yourself: What really appeals to me?

4. How much do I need to reveal about myself in all this?

You should certainly tell a personal story. You want to use this project to present yourself, so you must offer a sense of the person behind it.

5. How do I know which crowd I should be addressing?

It almost always starts with your own family. Friends, acquaintances and colleagues are then the first multiplicators. Of course it helps if you already have a fan base and followers on social media. But that’s not a basic requirement. I had 300 followers back then, which isn’t a huge number, and yet it still worked.

6. Which amounts are realistic? And how long does a campaign last?

I always have the rule: Take an amount that lies somewhere between your lowest limit and a figure that seems excessive. And, before this, you must of course make a calculation: How high are the production costs? What will I spend on goodies? What fee must I pay to the platform? I think 30 days is ideal for a campaign, in order to keep up your energy level and communicate constantly. Because, if you don’t reach the set amount, you won’t get a cent. That’s why you must really motivate people once again towards the end of the campaign.

7. Do you have another personal tip?

Invest in a good video about yourself that shouldn’t last more than a minute and a half. Words simply can’t replace this.