Navigate Up
Sign In

Crowdfunding case study

Posted on: August 13, 2015 | Author: ATB Business & Agriculture

Crowdfunding is a unique and exciting way to help businesses get the cash they need to grow, make changes, or even get off the ground in the first place. ATB’s rewards-based crowdfunding platform, Alberta BoostR, is designed to do just that for Alberta based businesses.

Recently BoostR had it first successfully “boosted” campaign with Escape Capers YYC. It’s an escape room facility opening in Calgary. (Never heard of an escape room? Check out escapecapers.ca to see what the fuss is all about).

Eric Boudreau, the owner of Escape Capers YYC, turned to crowdfunding to supplement his traditional sources of funding for his business. What he discovered was that launching a successful crowdfunding campaign does take a lot of work.

Here are some of his thoughts:

First off, why crowdfund?

“For me it was a great way to do the pre-sale, and kind of get some early excitement building.”

Launching a crowdfunding campaign can be a great way to start generating some early excitement about your business. People who see the campaign and get invested early in your idea might even go as far as to pre-order new items or tickets.

You also get the benefit of potentially reaching their personal networks as well. Whatever the product or service is, getting the word out early never hurts!

How important are the rewards you offer the crowd?

“I wanted to give people a deal so they feel like they’re getting special treatment for supporting me, and then a better deal the more tickets they buy or the more they donate.”

Potential donors should see the value in your rewards. First decide what type of reward you want to offer. Will it be tickets, events, swag? Consider what your target donor would value.

Second, remember not all levels of donation will have the same target donor. Really pay attention to your big sponsorship level donation goals. Create a reward that a potential big sponsor, such as a corporate donor, would see value in. This will most often be different than what individual donors will value most.

What advice would you give about setting an achievable campaign goal?

“Leave yourself a little breathing room. If you think you can raise $10,000 maybe just aim for $8,000 because you don’t want to come up short.”

With fixed crowdfunding platforms such as Alberta BoostR or Kickstarter you only get your funds if the goal is met or surpassed. Just because you set your goal for $8,000 doesn’t mean you won’t reach $10,000. When the crowd gets excited, projects can really take off. Eric’s campaign met its target, and then exceeded it by ten per cent.

How do you get the word out about your campaign?

“Ask your closest friends and family to donate and to share.”

Ask anyone and everyone you think might be interested. Encourage them to check out your campaign and share it with their own networks. The more people that you can ensure will see it, the more likely you are to reach your funding goal. And don’t be afraid to approach someone multiple times. If they showed some interest, follow up with them.

It’s a lot of work to launch a successful crowdfunding campaign. But for people like Eric—the doers, the thinkers, the makers, and believers—it can be done! Just do your homework, step up to the plate, and knock it out of the park.

Check out the other businesses showcasing their ideas right now, or launch a campaign of your own at albertaboostr.ca.

ATB Financial Hiring Guide
November 29, 2017

ATB Financial Hiring Guide

A growing business will eventually need to hire employees.

Gerry Wood: A legacy of entrepreneurial spirit and generosity
November 03, 2017

Gerry Wood: A legacy of entrepreneurial spirit and generosity

What makes this Calgary Business Hall of Famer tick.

A 26-year financial services veteran’s perspective on cash flow
October 19, 2017

A 26-year financial services veteran’s perspective on cash flow

Learning how to manage cash flow is a crucial milestone on the road to success.

ATB Entrepreneur Centres
August 31, 2017

ATB Entrepreneur Centres

Within these innovative branches are teams dedicated to helping manage the complex financial needs of entrepreneurs.

Amplifying manufacturing in Alberta
March 06, 2017

Amplifying manufacturing in Alberta

ATB recently launched an initiative to help Alberta’s manufacturing sector access international markets.

Tracking trends in venture capital and private equity
June 30, 2016

Tracking trends in venture capital and private equity

ATB's managing director of M&A Advisory Services shares highlights from the CVCA's annual conference.

Why we should hire like we date: The key to proactive recruitment
June 20, 2016

Why we should hire like we date: The key to proactive recruitment

When a company and a job seeker find themselves connecting and it goes well, it can be bliss.

Help grow & diversify Alberta’s economy through crowdlending
May 23, 2016

Help grow & diversify Alberta’s economy through crowdlending

ATB LendR is actively looking for its first group of Founding LendRs ready to support Alberta's entrepreneurs.

Introducing ATB M&A Advisory Services
May 17, 2016

Introducing ATB M&A Advisory Services

This team of professionals will be a key part of our new engaged client model.

1-855-941-4912

Start the conversation with an ATB Business Expert

GlassdooreSSENTIAL Accessibility™Diversity and InclusionATB Listens

About ATB | Contact Us | Find a Branch or ABM | Current Rates | Privacy and Security | Legal | Code of Conduct | Site Map | Vendor Resources

2017 ATB Financial. All rights reserved. ®ATB Financial is a trade name/registered trademark of Alberta Treasury Branches.

ATB Financial