Fan funding is an interactive, web based crowd-funding platform, a place where artists can shed light on their work and summon the support of their fans. Fan funding sites have been around since the early 2000’s and becoming increasingly more sophisticated and popular. Artists like Amanda Palmer, used this model to skyrocket their career. Bands, soloists, orchestras and many other creative musical acts rely on fan funding for support.
Direct-to-fan marketing allows you to openly connect with your fans, providing a podium to sell your merchandise, share your music, drop a new album, give fans a point of contact, collect donations, start getting some pre-orders and much more. It is a place to learn about current fans and develop new ones while campaigning your music.
You may not have the money to start out the way you’d like. Paying for your new EP is going to be costly. How can you keep your fans if you’re lacking the funds to go on tour, being completely out of reach of fans across the states? Maybe you’re unsure of the quality of your work. There is an opportunity for you to learn about your customers taste. You can certainly dodge negative attention without putting your entire image in jeopardy.
Fan funding is the perfect way to raise money to complete your artistic goals and launch your dreams.
Really, this source of generating funding is so great because you, the artists, are in control of your destiny. It offers your fan community a virtual portfolio of your work, providing the marketing and public relations you need. There is virtually no risk. You will not be fined if your initial goals aren’t met. This gives you the opportunity to readjust goals and reevaluate how to ask for support.
Is now the right time for you to get started?
A few points:
1. Don’t impulsively launch your campaign.
Give yourself time to really think this through. You want to have your social media linked to the page, a complete image or look, sample music, and clearly express your goals. What makes you different?
2. What will you do to thank your fans?
Make sure your backers get rewarded for their help. Give them attention and incentivize them to stick with you. Are a few free downloads sufficient for a $10 dollar donation?
3. Plan your financials.
Figure out how much money will it take for you to complete your goals. Establish costs and expenses. Be specific and assist people entrusting you with their contribution. Where, when, and for what are you using that money? Make those dollars count.
4. Give prospect backers quality media.
Give examples of your best work (i.e. songs, your pitch video, etc.). Get them interested. Slacking on this will stifle your campaign.
Make sure your best fans know about what you have planned before your launch. They’ll help get the ball rolling and new comers will be more likely to follow.