Indie Artists Can Raise Cash Through Crowdfunding

If you’re an indie music artist, you know firsthand how hard it is to promote your music while trying to raise some serious capital. Debuting your mixtape at a contemporary art gallery or networking through a sea of aspiring producers is just all in a day’s work for you. But like any good investor or entrepreneur, you should expand your horizons.

Even if you have 10,000 Twitter fans or devout Instagram followers who “like” your gig photos, this doesn’t translate into the $$$ you need to seriously fund your dreams. This is where crowdfunding, or donation-based fundraising, comes in. (Forbes even projected the crowdfunding industry to reach about $5.1 billion this year).

Sites you may already know, like Kickstarter or Indiegogo, take social media one-step further than Twitter or IG. No.1, if you already have a fan base, it allows them to invest in you. True indie music fans want to see their favorite artists succeed—and $10 is worth it to them. No. 2, it allows you to pick up new fans because you can present your project (i.e. music) on these sites.

If you want to create a project on a crowdfunding site, keep the following in mind:

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Professionalism Stands Out. You need to have clear head shots, album covers, gig photos and quality video. Direct potential backers to a professional website where they can easily access your tracks and bio (YouTube or Google+ are acceptable).

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Be Relatable. Tell your story with passion. What inspired you to get started? How do you want your music to inspire others? How will your musical contributions shape the industry?

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Be Accessible. Show, either through photos or video, how much you interact with your fans and what they mean to you. This project is just as much for them as it is for you.

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Do a Budget Breakdown. Tell your supporters WHY you need the money (production costs, food, travel, etc.). People like to know where their money is going—be upfront.

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Give Incentives. Your backers are spending their hard-earned dollars on YOUR dream. They deserve a big “thank you” for that. At each level ($10, $20, $50, $1,000…), determine what you will give them. A finished CD or autographed photo shipped to their house? Backstage or in-studio time? A shout out at your next show? Dinner and a movie? Figure out what your supporters deserve and give it to them as a sign of gratitude.

If you’re already doing crowdfunding or know someone who is, feel free to share some tips with other indie artists in the comments.