If your podcast is in its early stage, and your idea needs some financial support, referring to the public might be an option that’s worth giving a try.
Let’s explore the idea of crowdfunding for podcasts and the main steps you should take to organize successful fundraising. We’ll also get into must-listen crowdfunding podcasts if you’d like to receive regular advice on the crowdfunding process.
What is crowdfunding for podcasts, and how does it work?
In case of podcasts, crowdfunding is the way of raising funds from the crowd for covering your show’s expenses. Unlike large investments that you can get from angel investors, with crowdfunding, you get small amounts from many donors. Crowdfunding is about selling your idea and making people believe your idea is going to succeed. You should convince the audience that your strategy is worth investing in and that their contribution will pay off.
Besides, for a successful crowdfunding campaign, you should make a solid emotional connection with your audience. Your podcast and the way it’s going to add value should inspire them.
Therefore, the first step of a successful crowdfunding campaign is to communicate what your show will be about and what problem it’s going to solve for society. Create an inspirational story around your podcast and actively promote it.
How to successfully crowdfund?
Reach potential investors
An important decision when starting crowdfunding for podcasts is figuring out how you can reach a potentially interested audience for your project. Starting a crowdfunding campaign on your social media accounts is a good idea if you have a large following there.
However, as most rising podcasters start from scratch and have a long way to go before building a large fanbase on social media, it’s better to choose crowdfunding platforms.
Crowdfunding websites are platforms that connect investors and startups and allow project owners to attract financial resources.
Many people worldwide who are interested in innovative and profitable ideas get on those platforms and search for good ventures towards which they can spend their savings. Therefore, if you can present your podcast in convincing packaging, there are great chances you will collect a good amount of funding for your show.
Here are some of the most popular crowdfunding platforms you can use:
Offer something in exchange for the financial contribution
You might find some people who will invest in your idea out of the goodness of their hearts; however, the majority of investors will need to have clear benefits in exchange for their financial contribution.
Crowdfunding for podcasts is usually implemented by offering the following benefits to investors.
- You can offer partial ownership of your show or equity in exchange for the provided capital. In other words, you can sell shares of your podcasting business.
- You can also reward investors, and it does not necessarily need to be a financial reward. Give them some extra benefits, such as early access to the ready podcast, mention their names in the show, etc.
There are also cases of donation-based crowdfunding, where you do not need to return something to the investors. Usually, such donors appear to be nonprofits who support starting podcasters for charitable purposes.
An important tip here is not to reject small donations. Make sure to set unlimited giving levels and accept even the most minor contributions.
Top crowdfunding podcasts you should listen to
Many podcasters with rich experience in crowdfunding share their knowledge. If you want to find the perfect crowdfunding podcast that will guide you through the ins and outs of crowdfunding campaigns, check below for some of the most popular podcasts in this niche.
Tom Britton, the host of Angel Insights, chats with successful angel investors and reveals their investing strategies. This will help you understand the mindset of investors and attract their attention better.
Learn some crowdfunding tips from Salvador Briggman, a cited expert in the NY Times, Wallstreet Journal, and other reputable publications. You can find valuable advice on how to run your campaigns on Kickstarter, Indiegogo, and other popular fundraising platforms.
CrowdCheck is designed to teach investors how to avoid fraud and make successful decisions when choosing projects to invest in. This advice will help you look at crowdfunding from the investor’s view and present your project accordingly.
This podcast contains marketing tips and advice for successfully presenting your fundraising projects on Kickstarter. All the advised strategies are extracted from Crowdfunding Nerds clients’ real examples.
Interested in reading interviews with current crowdfunding campaigns’ managers and marketers? Listen to Go Fund This! episodes, where you will get detailed tips on raising successful campaigns on Kickstarter, Patreon, and similar platforms.
As you can see, the lack of financial resources can never be an obstacle on your way to running a show. Hopefully, this article is one of the small steps towards your breakthrough in the podcasting industry!