Top 5 tips from Monarchy MMA coach Bruno Barbosa on how to run a crowdfunding project for martial arts:
You have heard of crowdfunding , of course (we spoke about it earlier right here)!
The new way of raising money for a cause or a project using contribution from many different people, has found its way into all spheres of life, including martial arts. Strictly speaking, the definition of crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.
In reality, people get funding for everything, be it a product prototype launch, new gadgets and holidays (yes, cheeky monkeys among us!), medical research, charity projects, education , exhibitions and, of course, sports. There are people who want to get to Olympics, climb Everest, run a youth basketball programme, compete at boxing arenas, do that fight-camp of a lifetime and it goes on. How do you stand out from the crowd and get people donating to you? Lets ask someone who has been there, done that and got the money: Brazilian jiu-jitsu black belt Bruno Barbosa.
Crowdfunding success story
Monarchy MMA coach Bruno Barbosa has recently run a crowdfunding campaign on MAKE A CHAMP website and reached his goal: $1500.
He can now jet off to Japan to compete in 12/13 Asian Open Jiu-Jitsu Championship in Tokyo. How did he run his crowdfunding project and what did he learn from it?
5 best tips to successful crowdfunding for martial arts by Bruno Barbosa
FIND THE RIGHT AUDIENCE
Get onto the right crowdfunding site from the very beginning. I chose Make a Champ, because some of my friends used it and it was a success. Its interface looked pretty straightforward, it offered links to my social media networks, it was easy to monitor the progress. People who support martial arts are already aware of it, so there is trust. Another good crowdfunding source for fighters is Fund A Fighter, it is used a lot by MMA industry, including up-and-coming fighters from UFC. Websites like Indie Go Go and Go Fund Me are not strictly for sports, but they have sports campaigns running on them. There are other websites out there that specialize in crowdfunding for creative people, for tech apps, for entrepreneurs choose the one that matches your needs.
Many projects fail, so study those that succeeded. Learn from their success and implement their tactics. Should you be inventing the wheel when you can ride a bike? Some websites do not accept all crowdfunding campaigns, so make sure you follow the guidelines , too.
TIME AND MONEY: SET YOUR GOALS
Set the target of how much money you want to get in a certain period of time. Be sure the goal is realistic: crunch the numbers beforehand and make sure the final number covers all your project costs. Dont bid too high: you want that goal to be within the reach, so your audience can get excited about getting closer to it. Besides, you dont want to be fined for not reaching your goal. Sometimes websites fine you if campaign fails or charge higher fees. Note, that a 30-day timeline has been shown to perform the best.
MARKET YOUR CAMPAIGN
Make a crowdfunding video: having a marketing video is a great selling tool! Research showed that video is the best selling tool on the internet. Videos have a stronger engagement with the audience, they allow people to connect with you, to see your skills ( yes, go ahead and show off). Dont shy away from using your friends, parents, teachers and neighbours: let them all give you a wonderful testimonial. Dont forget about social networks, where you can share the progress of you crowdfunding campaign. Dont keep it dry: take some fun pictures (for Instagram, for example), produce killer infographics (hello, Pinterest), monkey around for a bit (a 6-second loop video on Vine can be played directly on Twitter can, how about that?).
Offer something special to your contributors: discounts, online tutouring, downloadable tips, behind the doors tours, event invites anything that could show your gratitude and give something back. Many websites require you to offer some rewards, be creative about it. See, if local printers can be your sponsors for some promotional material and in return promote them with their logo patch. You have got nothing to loose, buddy!
Have you run a crowdfunding project? We would love to hear your story! Get in touch