Crowdfunding can undoubtedly be a key driver of your initial success, however, many people lose money on poorly planned and executing campaigns that do little to grow awareness of their product and build a community.
Major failures include selling yourself too hard or to the wrong people, and not focusing on sustainable trust-building and engagement strategies. To help you avoid this and other mistakes, we’ve outlined some steps to keep you on the right track.
Don’t Create too Many Reward Tiers
Your first initial challenge is getting people on board and interested in your project. You don’t want to confuse people with too many choices when it comes to rewarding tiers initially. People may be turned away because they’re not sure what they’re willing to pay for.
Create a low-level reward tier for a small value to bring on a good base of support first, then nurture your base so that they can change their pledge later on, once they’ve developed a closer connection to your project.
Don’t Forget to Nurture Your Community
Great crowdfunding campaigns are built on strong communities. Growing your total number of potential backers is important, but for them to be useful to your cause and goals, you’ll need to find ways to connect with them and get them excited.
Offering platforms for sharing and discussion will help individuals feel connected and more likely to support you.
Ultimately, people want to be involved and not left in the dark after making their pledge. One of the best ways to do this is to tell people what’s happening behind the scenes, regarding the development processes or milestones in your project. A few effective activities include:
- Live events and demonstrations of your product
- Educational content about your product
- Interviews with you and your team
- Generally being active on social media spaces
Don’t Sell Too Hard
Resist the urge to sell hard, no matter how much you think it’s necessary. Often, the best way to sell your product is to simply share great, original content with your audience. Spend time finding out what people are likely to enjoy or the questions they have about your mission, and create content that is useful and interesting.
Don’t Launch without Laying the Groundwork First
Patience and timing are incredibly important when bringing a new product to market. Even with an amazing concept that you know people will love, you’ll first need to dedicate some time to community building so you have an excited group of dedicated fans ready to jump in on the first day and spread the word about your project.
As providers of crowdfunding marketing services and Kickstarter video production in London, we’ve witnessed the best campaigns exceed their goals within the first 24 hours. If you don’t think you’ll be able to do this yourself, consider what preparation you can make to improve your chances.
Don’t Forget to Be You
A crowdfunding campaign is quite different from a standard marketing or sales campaign for an existing brand or product. At the heart of it is the need to convey your personal vision and goals, and the great potential of your project to new audiences. This requires you to be genuine and authentic in your delivery of messages.
Showcasing who you are and why you truly believe in your project is one of the most effective ways to get people on board.
Start Promoting Your Campaign
Crowdfunding success relies on many things, including creating a dedicated community of supporters who will follow your company as it grows.
If you want help or advice on building your following, or would like to talk to us about Kickstarter video production in London, don’t hesitate to get in touch.
