Lessons Learned From Crowdfunding | Musical America Blogs

I was really honored when Edna Landau called me up to chat over the phone about Decoda’s successful launch campaign in one of her Dear Edina columns.  She gives some great advice on crowdfunding in the article - check out the excerpt below and follow the link to read her full column.  

*Note that prior to June 2013 Decoda was known as “The Declassified”  

I spoke to Paul Murphy, who is a member of the Artists’ Committee of The Declassified and who was integrally involved in their successful Indiegogo campaign to launch the music collective. They sought to raise $20,000 and raised $25,115 in six weeks. The monies were used to cover basic expenses such as a professional website, marketing materials, office space and accounting and legal fees, as well as costs related to events that took place in the launch week. The campaign led directly up to the launch week and was significantly helped by an article about The Declassified that appeared in The New York Times. The size of The Declassified (over 40 members) gave them a built-in network of family and friends that got them one-third of the way. They put a lot of thought into their video and making sure they had a point person to keep their written and video messages consistent and compelling. They focused on clearly and concisely expressing who they are, what they do, why they are excited about it and on inviting people to be a part of it. You might find their rewards interesting, inasmuch as it can be a challenge to offer benefits to donors when you don’t yet exist! When the campaign ended, and following their launch week, they sent out a newsletter to their network and Indiegogo campaign donors to thank them and share the exciting news that they were singled out by Indiegogo as a model campaign. - Read Edna’s full blog post.