Elliot Chapple is the General Manager of Pozible, the Australian-based crowdfunding platform for artists, non-profits & startups. Music is Pozible’s most successful category, with 72% of campaigns hitting their target. In the opinion piece below, Chapple details the key ingredients of each successful crowdfunding campaign. 

When crowdfunding platforms first came onto the scene in 2009,  popping up in the US and here in Australia, there were little resources for funding a successful music campaign.

At Pozible, it’s been a matter of researching, interviewing creators and testing out ideas over the years,  to figure out what exactly makes a successful music campaign. In fact, now we can safely say, we’ve got it down to a formula made up of four key ingredients which I can share with you here.

The Formula

Supporter Base

80% of failed campaigns never even get to 30% of their funding target.

The first key ingredient for a successful music campaign is to have, or actively be building, a supporter base. Building up a base of supporters ready to pledge to receive your album pre-campaign launch is important. Whether it’s by promoting on social media or busking on the street, people need to start hearing and following your music! Luckily, this comes natural to musicians and generally this gives muso campaigners an edge over crowdfunders of other mediums.