While it’s commonly known that crowdfunding isn’t an easy way to raise quick cash for your idea, it can serve as a way to raise awareness for your business. By recruiting a target audience as well as engaging your previous backers, you can turn crowdfunding into a successful kickstart to meeting your goal.
At Crowd Velocity, we take pride in showing you the way to achieve a successful crowdfunding campaign through methodical planning and preparation.
Here is an inside look at our top 10 tips for launching your own successful crowdfunding campaign.
1. Research and Listen
Start by conducting research in your selected industry. What similar projects have successfully funded via crowdfunding? Just as importantly, investigate those who have failed, and why. Understanding what techniques did and did not work is the first step in the research process. Consider it a way to take a risk-free trial run for your own idea. Also, listen to your community as well as related groups online. Observing what your target audience is discussing and focusing on what they are currently interested in is a good way to engage them in a meaningful conversation prior to asking for support.
2. Set Clear Goals
Before setting out on your crowdfunding endeavor, it is important to have a clear goal in mind. The most successful campaigns are always focused on achieving a set objective. This focus motivates you as the founder, and perhaps more importantly, your community, to reach that goal together. It is only when you know exactly what you are trying to achieve will you be able to measure the success and progress of your campaign. Your financial target should be well considered, and justifiable to your followers.
3. Create a Clear Call to Action
Not everyone is familiar with crowdfunding, so motivating and encouraging people to act through clear, prescribed steps is imperative. Communicate your cause in a strong, concise statement. Leaving interested parties with questions, or causing them to have to hunt for answers themselves is a sure way to lose people. Keep your message short, sweet, and informative.
4. Inspire People With Stories
A great way to draw people in is to make an emotional connection with them. By telling compelling personal stories, they will be more inclined to share them with their friends. Make the best use of videos, photos, product pictures, and sketches in order to achieve maximum impact. Make people feel.
Here is 5 Stage Crowdfunding Launch Blueprint.
5. Use Multiple Social Media Channels
Use a mixture of social media to spread your message: email blasts, blogs, Facebook, Twitter, G+, mobile, etc. Don’t shy away from integration and cross-promotion, and use social plug-ins to help you manage your posts. A video is one of the fastest ways to share and spread your message. Facebook Live, as well as other live streams, are also a good way to grab people’s attention while giving you instant feedback.
Bonus: Social media groups can also be a great way to test run before taking your campaign online. Ask smaller communities, and even friends and family, to review your site before publishing your work. Feedback from all outlets is a good way to refine and hone your message to be as impactful as possible.
6. Find Your Champions
Your most loyal followers will be the key drivers of your message. Identify them early, and let them know what an essential piece they are in your campaign. Never be afraid to ask: the worst they can say is no. If they are your champions, they will love to help spread your message. If you inspire and motivate them, they will be your biggest fans.
7. Start a Conversation
Don’t just promote — talk and interact. Engage your community by compelling them to share ideas, and enlist influencers. Make it a two-way conversation by interacting with people who comment, like, or share your posts. Communicate with them directly via message, video, or email. Follow up with every single person that connects with you or your campaign. It may take a while to get them back your project, so be patient, and don’t expect results after the first exchange alone.
8. Show Success and Movement
During your campaign, it is vital to report back to supporters on the progress being made. Send emails with updates thanking them for their help in what you’ve achieved so far. After all, it wouldn’t be possible without them! Also, inform them of what milestones you are still working towards. Your community will be more willing to help if you keep them involved in the whole process. Existing backers will be inclined to share progress updates, celebrate with you, and spread your message if they feel included.
9. Use Immediacy
Use headlines. Play off current events that affect people. Imperfect and on time is better than perfect and late. Use deadlines. Set a hard stop date for your campaign to prompt people to act today, not tomorrow. Remind people that the deadline is coming up in order to incite a sense of urgency.
10. Look at the Data. Test. Refine.
Your campaign will need constant adjusting as you go along. It will never be a one and done task. Test, test, test. Send messages to subgroups on your email list and in your social media community. Investigate which posts generate the most shares and tweets, and use the feedback to improve your approach in the future.
Above all else: STAY POSITIVE! You need to inspire your tribe to act, so staying focused, motivated, and confident throughout the process is essential! You’ve got this!
If you are thinking about launching your own crowdfunding campaign in the near future, feel free to reach out. Crowdfunding is about preparing early and having a clear plan of action — before you launch!