So after you have decided to crowdfund the next question is “Have you optimized your campaign for success?” We’ve taken a look at a number of recently funded projects in order to identify some of the techniques, strategies, and crowdfunding secrets that will give you the best chance of meeting your goals.
You can use crowdfunding to help validate ideas before they are fully realized, but if your campaign comes across as unprepared then your audience isn’t going to invest. People don’t want to back a campaign where they are not convinced it is going to work, you can’t use crowdfunding as a shortcut to avoid properly fleashing out your ideas. An eyecatching well structured campaign will create credibility and credibility drives funding. check out the Campaign Handbook to help.
Social Media is key
You don’t need a blanket presence on social media, though the wider your reach the better. Pick the networks that best match your marketing and content strategies and where your potential supporters are most likely to be found. Don’t forget to customize your reward to suit each platform too!
Lights, Camera, Action
Think about creating video content to support your campaign. Allow your audience to see your product in action. A word of warning however quality is key. If you don’t have the time, resources and expertise required to create a video don’t do it. An amateur-looking video isn’t going to convince anyone to get involved, and at worst, could damage your campaign’s credibility.
It’s usually well worth taking the time to create great content because of the investment it will attract.
Your Media Page
Many of the most popular crowdfunding projects secure press coverage, but this won’t happen if you don’t have a solid website and some press materials that journalists can download. Even if you’re a one-man show, don’t rely on your Facebook page to do it all. If journalists can’t find more information about your project and some high-resolution pictures to illustrate their features, they may choose to promote a different project instead.
If you have grander plans, think press releases and even tours!
Tell Your Story
Share your enthusiasm for your project, and people will naturally want to add their support. Remember that your supporters are giving you money with the expectation of getting something back. They want to receive a return on their investment, whether it’s a physical product or a service they will use. Let your backers know what it is they’re supporting. and let them pledge as little or as much as they like.
Have you thought about Pre Launch?
Even before you launch a crowdfunding campaign, you can drum up interest in your project or your business. With a solid fanbase in place, your campaign will get off to a good start. If you don’t already have a community to tap into, try and get the attention of a handful of influencers in your market who might be interested in promoting your project.
Whether it’s good news or bad, keep your backers and potential backers in the loop. Post regular updates on your crowdfunding page, and keep the process going after the campaign has ended. Remember the real work begins after the campaigns to ensure everyone gets what they pledged
Introduce your team to let your supporters meet the people behind your project regardless of whether you’re an established company or an up-and-coming startup. Consider using humor and personality in the crowdfunding campaign. Maybe offer team engagement as potential reward for backing if this makes sense for your campaign.
Appeal to your day 1s
Your first backers will often be your first customers. They may even be your current customers!
Consider the fans and supporters that you already have, making your project goals and rewards something that these people are going to be ready to identify with.
Appeal to your Day 2s
You can create a campaign that has broad appeal at the same time as paying special attention to your existing supporters. One of the best ways to do this is by creating a reward scheme with many different price points. Even if you can’t offer a physical reward for a lower donation, you could still give these pledgers early access to your product or a credit discount on your product or service.
There’s no way of guaranteeing crowdfunding success, but by studying the projects, strategies, and crowdfunding secrets that have worked for others, you can certainly maximize your chances. Like any other business venture, crowdfunding is an iterative process that start long before the doors are opened, and long after the campaign has closed.
Start Your Campaign – Best of Luck!