FAQ

What is Gazatha?

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What is crowdfunding?

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How does Gazatha work?

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What do I need to do to ensure that my campaign is successful?

  • You have to have an audience

Research evidence indicates that nearly every successful campaign from an artist, startup, charity, cause, NGOs already had customers, fans, followers, supporters, a list of people to whom they could announce their crowdfunding campaign.

These are the people that will go to your crowdfunding site and give you money.

Regardless of how great your video or idea is, if you have not built up an audience for your campaign, you are unlikely to raise the money to fund your campaign.

It is important to note that the majority, not all, of initial funding comes family, friends and fans of the campaign creator.

Before you start a campaign  you need to ask yourself how you will drive visitors to your campaign page. If the answer is, “no idea”, then work on that first.

  • You offer something truly ground-breaking if you an entrepreneur

Research indicates that there is evidence that many successful campaigns involved breakthrough technology or a breakthrough use of an existing technology.

  • You have to really market your campaign

Make sure you have a marketing plan before your launch date. Create a buzz around the campaign before you launch it. Creating a campaign in itself does not automatically translate into a successful campaign. You have to create awareness and excitement for the campaign.

Ideally you should have a launch team who are willing to help you during this time. You should schedule tweets, guest blogging, sending out emails etc, anything that you can think of that will bring people to your page.

  • You have to create a fascinating video (and pictures)

One of the most important marketing tools in a crowdfunding campaign is the video. Ensure that the video (and pictures) is of good quality and is engaging!

  • You have to have exciting rewards

Research has shown that most successful campaigns have creative and fun rewards. Project creators go as far as calling donors, offering “behind the scenes” tours, special limited edition versions of the item in question, a consulting session, steep discounts off planned retail price, additional products in their gift bag, volume discounts etc.

Think about what you can give people to motivate them to donate. It is important to note that some donors will not give you money just because you have a campaign, you need to offer them something else that has value to them.

Ensure that you incorporate at least 4 out of these 5 elements for your campaign,

 

How important is it to know what the campaign target amount should be?

Treat your campaign pitch the same way you would if you were applying for finance from a financial institution. This means that you will have a business plan and financials, you will therefore have calculated how much you need to execute your project. Set reasonable goals!

 

How long should the campaign run for?

There is reported data that a campaign run’s sweet-spot is 30 days. It is not a hard and fast rule and project creators can decide for themselves, however it has been shown that a long running campaign does not attract backers as they lose interest.

 

How do I encourage backers to support my campaign?

The presentation and viability of your project or charitable cause will influence backers. That is why Gazatha encourages campaigners to make an effort in their presentation and video. The campaign has to have a beginning and an end, there has to be a tangible outcome at the end.

 

What or how do I select as a reward or perk?

Listed below are some examples:

  • Your primary rewards should be the things made by the project itself. A good example is if your project is to record a film, then your rewards should include a copy of the movie. Or if you are making jewellery, then a piece of jewellery etc.
  • Thank you. Give different type of credit to your supporters, from mentioning them on social media to putting their names on the product itself. Share photos, updates and cool stuff with them.
  • Merchandise. Reward them with hats, t-shirts and other cool collectables (who wouldn’t love an original Apple t-shirt today?).
  • Product. Offer an exclusive first run of your product or service (also known as pre-orders). Do this just for a limited time or amount to spark demand.
  • Early Access. Grant access to a few to be your first users.
  • Customisation. Enhance users experience by providing personal options such as engraving, color choice, etc.
  • Subscription. This is a great idea for businesses with membership models.
  • Bundles. Combine the above rewards to create a higher tiered incentive.
  • Meet & Greet. Have fans come and meet you and your team, offices, etc.
  • Participation or Collaboration. Let people become a character in your game, name a flavor after them, act as an extra in your film… If you are targeting experienced professionals, you might even want to invite them to collaborate in deciding the future of the project.
  • Events. Have backers come to your launch party, give them access to backstage, throw a special gathering for them… The possibilities are endless.

Source: Rita

 

Can I add or amend a reward after my campaign is live?

Yes you can, listed below is a list of what you can add or amend:

  • new rewards or campaign projects without backers
  • project FAQs
  • project description
  • project video and image

What cannot be edited:

  • funding goal
  • project deadline
  • your bank account and verified identity.
  • rewards tier that have already been selected by a backer.

 

What happens if I do not meet my goal?

It depending on the type of campaign you selected:

  • All-Or-Nothing Based Campaign
    If you do not meet your campaign goal/target by the deadline or end date of the campaign, you do NOT receive any of the pledges. All monetary contributions or pledges will be returned to the backers.
  • Flexible Funding Based Campaign
    You get to keep the money pledged to your campaign regardless of the fact that you did not meet your goal or target.
  • Donations Based Campaign
    Charities get to keep all money pledges regardless of whether or not the campaign target was reached.

It is worthwhile to note that All-Or-Nothing campaigns have a higher success rate than flexible funding campaigns.

All campaigns are subject to Gazatha Pricing (Pls link) terms and conditions.

 

What happens if I meet or exceed my goal?

  • All-Or-Nothing Based Campaign
    If you meet or exceed your campaign goal/target by the deadline or end date of the campaign, you will receive all monetary pledges.
  • Flexible Funding Based Campaign
    You get to keep the all monetary pledges to your campaign.
  • Donations Based Campaign
    Charities get to keep all monetary pledges.

It is worthwhile to note that All-Or-Nothing campaigns have a higher success rate than flexible funding campaigns.

All campaigns are subject to Gazatha Pricing (Pls link) terms and conditions.

 

When do I receive the campaign money?

Monetary contributions and pledges will be transferred to you seven days after the end of the campaign date less the associated fees, regardless of which type of campaign you selected. Monitory transfers will only be made to the campaign creator’s account held in a registered financial institution. No third party transfers will be permitted.

All campaigns are subject to Gazatha Pricing (Pls link) terms and conditions.

 

Are all backers named?

Backers are named only if they want to be named.

 

Can I, as a backer, remain anonymous?

Yes, each backer can decide whether or not he/she/they want to remain anonymous.

 

What happens after the campaign end date?

Campaigns come to an end and based on the type of campaign you selected and whether or not your target was reached, either you will receive the monetary contributions from your backers, or you walk away empty handed.

However, campaign dates can be extended by a few days if the target goal is almost achievable. An application for an extension will have to be made to Gazatha for evaluation, our algorithms will determine the outcome of the request.

 

How do I decide which currency to use?

Choose the currency of the country you live in.

 

How much does Gazatha charge?

Please refer to Pricing (pls link)

 

My campaign was crowdfunded elsewhere—can I still use Gazatha's marketplace

My campaign was crowdfunded elsewhere—can I still use Gazatha’s marketplace?
Yes! As long as your product was part of a crowdfunding campaign—whether at Gazatha’s or on another site—you’re eligible to sign up for Gazatha’s marketplace.

 

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