Tips on launching better crowdfunding campaign
“Crowdfunding wherein, Your investors are Your Future Customers”
Crowdfunding is an appealing way to raise capital for a project, product/service or personal business venture. It has assisted firms all over the world to get the necessary financial support they require. Through, crowdfunding startups naturally build a future audience of customers, as people tend to support ideas, causes or services they are interested in buying or being involved with or taking preference for it in the future.
A considerable amount of effort goes into creating a bestselling crowdfunding campaign, which includes writing a good copy for social media and newsletters, having a compelling framework for campaign pages, scripting and making videos. All this work takes in for better creativity, knowledge and focused time. But this alone is not enough to reach the agenda of a triumphant crowdfunding campaign, without ensuring the right strategies. From preparing a pre-launch campaign to rendering the first batch to the backers.
Here are some of the important tips on launching a good crowdfunding campaign:
1 Research well beforehand
Before starting the crowdfunding campaign, it is important to do adequate research. This doesn’t mean exploring the idea or product/service. It simply means exploring every detailed information a firm has to know about crowdfunding in order to mine winning strategies. The firm has to not just know how to run a successful campaign, but should also be aware of all the guidelines, rules and regulations while funding through this source.
2 Set Goals for crowdfunding campaign
Just like any other initiative or campaign, the crowdfunding campaign also starts with predetermining its aims and goals before the launch of the campaign. The goals need to be precise than just raising funds, like what are you going to achieve with those funds? Are you looking for creating a website before the launch? Do you want to target a specific set of audience? Do you want your targeted audience to get the requisite data or feedback, which helps in redefining your future offerings? Also determining the budget for the goals decided. And this is something, the supporters would pay interest.
After setting the goals, the next step is to make them public on the crowdfunding platform of your option. Since you cannot quickly switch them, it is essential to make realistic, real and authentic goals for the launch of a prosperous crowdfunding campaign.
3 Having a compelling story
The prospective way of gaining the attention of potential investors is by narrating them a realistic, authentic and compelling story. Before launching the campaign on the crowdfunding platform, the backers are curious about knowing the story behind the product/service or idea that would go live. Therefore, it is important to plan and draft the crowdfunding campaign with great detail. Elevating your crowdfunding campaign is majorly through right content marketing. Creating content that supporters find compelling, either via message, text, video, audio, images or a combination of all aforementioned. It should urge people to take action in some way- signing up for a cause, invest in a cause or idea. Since the time available to grab the attention of the backers is very minimal, it is essential to create better quality image, video and content as a way of influencing the supporters regarding the investment in the project/idea. So that they could back you.
4 Better Social Media Strategy
Social media is the leading method of having the word out for a campaign, even though the firms are bounded in terms of budget. It helps in interpreting, how well the campaign will be received. It can be used as a testing ground in order to achieve valuable insights from the backers. Making use of their advice acts as a significant tool in creating better offerings to the supporters.
Follow these social media fundraising strategies that will get your campaign out there
- Facebook Giving – Your potential backers can directly give to your campaign through Facebook. With the perfect online software. This means your backers can conveniently donate and invest than ever before.
- Automatic Sharing – After the backers have invested or donated to the campaign, create a setup that will have a sharing option along with the thank-you message. Through which the backers can spread a word of action for your campaign.
- Campaign Video- Create efficient and resourceful videos, which are to be posted on social media. It would not only pass the message to the supporters, as since many social media sites favor videos in their news feed, and the content is more likely to be viewed by the supporters.
By leveraging these social media tools and ideas, you can meet the supporters and can ensure a successful crowdfunding campaign.
5 Use Crowdfunding Promotion Service
Crowdfunding is not just about launching a campaign, but to choose the correct platform to promote your idea, product/service. There are sites that will help you in better promoting your campaign. Sites like Backer Club and Funded Today, are some of the sites that provide good promotional services required for a crowdfunding campaign. Campaigns are necessary to be decided a month or two before the launch of the project/idea.
6 Get the message out there clear and early
After creating the marketing plan and content that correlates with the crowdfunding campaign, It’s important to tell the crowd out there, which can be done through various modes like creating blogs for the campaign, reaching out to the audience via social media, hosting live events, paid advertisements or a mix combination of any of these activities. This helps in building the anticipation, but it is essential to do such kind of activities often. This enables a strong and reluctant start and helps in driving an ample amount of traffic to the campaign and to your site.
There are circumstances where the viewers do not get the message clear in one go. Hence it is necessary to spread the word about the crowdfunding opportunity quite often and early with related content repeatedly on various platforms.
7 Use your existing networks
Generally, a successful crowdfunding campaign takes off an influential start, due to the utilization of existing networks. As you are starting up with a crowdfunding initiative, there are chances for the presence of decent social media following and a built network, which potentially knows regarding the business and also respects you as an Entrepreneur or Founder. Hence, there is an added advantage of having the existing network, to whom you can share your information and updates regarding your campaign.
You can provide them with the first rewards or opportunities and get them involved from the beginning of the campaign. This is majorly important, as the majority of early support and donations come from people who are co-linked with the founder in some way, shape or form. Provide them with additional presents, rewards, or recognition of some kind, or any other special opportunity that you can offer to your network. Who are the early investors of your campaign. Having a significantly strong and built network also gives you a ball rolling future investors for raising adequate funds for the crowdfunding campaign.
8 Reward Your Investors
With every crowdfunding activity, there comes considerable returns for the investors. The reward system is generally determined by the firm, which works better for the company, and the target audience. The agenda is not only influencing a few people but to also appeal to a broad base of individuals for the rewards given. These rewards can be tangible. For example- tickets for an event, sample trial of the product/service, gifts, coupons, etc. Backers naturally prefer to be thanked and connected with a firm/business that has a positive and growing startup outlook. Not every individual would invest in the same amount or maybe a few people do not want to gamble much on the crowdfunding activity. Hence, it is advised to give them the liberty to invest much or less as they are convenient. This reward system makes your supporters or potential supporters feel appreciated, supported and would lead their decision back to you.
9 Work With The Media and Mention their Highlights
It is important, as in how the company and its campaign is introduced to the members of the media, journalists, and bloggers. It is necessary to let the media know about your company, so that it becomes easier for them to promote your campaign. Usually, journalists do not feature a new startup or business, unless it is quite simple and easy for them to get the relevant information that is linked with the current trend and story. Hence, it’s better if the firm can connect with what they are doing into popular trends, events or culture.
It is vital to highlight and update any press mentions on the crowdfunding page. This strengthens the trustworthiness of your backers and will make them considerably positive and confident about your product/service or idea. Utilizing quotes and comments received on your project from noted and famous publications is an exemplary way to increase your credibility.
It’s no surprise that the crowdfunding campaigns come in with greater tasks. But with the correct strategy in place, the firm can meet and even exceed its aims.
Every startup aims at having a successful and prosperous crowdfunding campaign launch, and with all these steps undertaken, they are closer at making their crowdfunding campaign a successful launch.
Looking out for a platform to launch your crowdfunding campaign. Well, we at crowdbazaar will assist you with excellent strategies and plans for your campaign launch.