Getting a big pledge is a moment to capitalise on, as it should encourage other deep-pocketed backers to come forward. Plan for this moment in advance and then strike while the iron is hot!
As Spacehive partners with big local funders (e.g. your local authority or Mayoralty), at some point in your crowdfunding campaign there is a chance that you will receive a big pledge. This normally comes around the halfway mark in your campaign, and the intention of the funder is to give you enough to serve as a significant boost, while leaving enough space for other backers to come forward and share in the spoils!
Getting a big pledge is not a moment to celebrate for too long however; there is still work to be done in order to attract and secure these next pledges.
Rather than wait until the moment you have this big pledge confirmed and then start looking around, our advice is that you start drawing up your hit list of who to approach in advance of receiving this pledge. This is of course slightly speculative as you don't know for certain that you will be receiving one, but you should work on the assumption that you will - if nothing else it's a good positive mindset to adopt!
What to do in the weeks before this pledge might arrive
- Revisit the crowd calculator and look at the more deep-pocketed backers that you brainstormed. Are they still realistic? Do you know the best way to contact them?
- Read our guide to approaching businesses for a pledge. Start warming them up now.
- Do a Google search for any local funds that exist which you may be eligible for.
- Post updates, reply to comments and generally make your campaign look like there's lots of energy and momentum behind it.
- Tell your local press that you are hoping to get this big pledge and see what their upcoming deadlines are for publishing news.
What to do in the weeks after receiving the pledge
- Post an update on your project page celebrating this moment!
- Follow up all your previous conversations with anyone who you think could make a big pledge to your campaign and now be direct in making your ask. Don't be afraid to suggest an amount.
- Feel free to add any logos or banners to your images on your Spacehive page and on social media to say 'Supported by X'.
- Do a big social media push.
- Follow up with local press.
- Consider hosting a pledge party to invite your backers along and do some fundraising.
That's it really! The key message here is to not wait until after you've received a landmark pledge to then go and start thinking about how you will raise the rest. Getting a big pledge really puts the wind in your sails. Use this momentum effectively and you will hit your target before you know it!