The 2008 financial crisis completely revolutionized how companies raise capital, marshal internal resources and deploy money over the long term. Crowdfunding, or seeking operating cash from the public, is here to stay.

Crowdfunding simply means you get operational cash from the crowd. Well, don’t get too excited too quickly. The way it works, investors and consumers—the funders—register via a platform, such as Indiegogo and Kickstarter. Businesses then vie for a part of the cash pie by explaining their operational plans, business objectives and profitability metrics, among other criteria. Investors get paid at specific intervals during the loan term, or at maturity.

It is the new era for startup capital for several reasons, including tighter capital ratios imposed on banks, higher savings levels in the consumer group, and the fact that banks nowadays are iffy about the economy.

In this context, sites like Indiegogo, Kickstarter, Rockethub and Seeders have deployed astute yet amazing ways to help businesses succeed in crowdfunding. Is your company using the right crowd-funding strategy, or is it paying higher interest rates and leaving money on the table for rivals to pick?

10 Best Crowdfunding Tactics

1. Create a catchy, compelling story.

   Needless to say, a successful crowdfunding campaign always starts with a compelling story, a narrative that ticks the emotional bone of the public—that is, your potential funders. Spend time writing that story and make it as persuasive as possible. Stay positive, concise and precise—and shy away from showy or fluffy material. Bottom line: be direct and tell potential investors why your project is important and why they should care.

2. Embed multimedia content—video, photo and infographics.

   Research has shown that multimedia content is more effective than written text. So, come up with snappy video, audio and infographics to hook prospective investors. There’s no limit here, as long as you provide clear and witty content.

3. Set a reasonable, clear goal.

   Tell the crowd how much you want to raise, and make sure the crowdfunding objective is reasonable. Look around and see how much cash similar businesses have raised in the past, and set your funding threshold accordingly. The idea is to be in the perfect middle, the sweet monetary spot that investors can tolerate without thinking too much about your company’s operating risks.

4. Pick the cheapest terms.

   On crowdfunding sites, you‘ll typically find one or more funding terms—that is, loan or financing conditions. Take your time and read the criteria for each funding proposal—especially the fine print. Ideally you want to find the cheapest funding proposal.

5. Explain how the money will be used.

   Don’t scare future investors away by cloaking your project into secrecy. Tell the public as clearly as possible how you’ll use the cash raised. Nobody is asking you to reveal trade secrets or give competitive intelligence to rivals. Just stick to the 5Ws, and you’ll be fine. Tell investors what the project is about; why you need the money; where you’ll spend it; when you want to make major disbursements; and who will be managing the cash or benefiting from it 

1. Design your crowdfunding campaign page.

   Crowdfunding portals have great tools you can use to design your campaign page. Don’t take this exercise lightly, because your fundraising potential often hinges on how well you make your business case—and a web page is part of that seduction tactic.

2. Choose a memorable URL.

   In the Internet’s era, things like URL, landing page and web page ergonomics have become salient. Your campaign’s URL (Uniform Resource Locator) is the web address that potential investors must type to see your campaign. So make it easy for them, and choose an easy-to-remember URL. The more memorable your campaign page’s address, the easier it is for financiers to find it and the easier it is for them to spread the word and share your campaign information with their contacts or other investors. Editorial Note: If you are using a third-party platform, redirect your domain name to the crowdfunding campaign while it is active. Then once your company website is complete you can benefit from the traffic derived from your crowdfunding launch.

3. Formulate a S.M.A.R.T. marketing plan.

   When it comes to launching an effective crowdfunding campaign, sometimes it’s all about marketing, marketing and marketing. Do you want to spread the word around your campaign? I bet the answer is “yes.” So formulate a S.M.A.R.T. plan and make it as sharp as possible. A S.M.A.R.T. crowdfunding campaign is specific, measurable, attainable, relevant and time-bound. The bottom line is, you want to show potential investors that you’ve thought about everything and know exactly what you want, where you’re going, which obstacles you may have to face, and how you’ll judge operational success down the road.

4. Keep the crowd updated.

   The crowd has entrusted you with their money, right? Now, it’s time you show them that you care. So, update investors as frequently as possible. Tell them how excited you are about the campaign, progress you’ve made in the last few weeks or months, and things you foresee in the upcoming months. The trick is to update your backers, even if there’s nothing meaningful to report. Why? Well, you want to stay in your investors’ minds as clearly as possible.

5. Show your gratitude.

   Gratitude is a win-win virtue: the person showing it is happy, while the one receiving it is even more elated. Tell your investors how much you appreciate their monetary involvement in your project. Send “Thank you” notes occasionally, and tell the public that your campaign wouldn’t be possible without their support. Sounds like something basic, but it always feels good to hear words of gratitude.

Crowdfunding is no easy feat, but you can create a successful fundraising campaign if you do your homework in advance, cultivate the right relationships, and apply a few tips. These include defining a clear goal; explaining how funds will be used; keeping investors updated; and embedding snappy material in your campaign.