In this article, we share some useful crowdfunding tips and advice designed to help you launch a successful campaign. These are ‘inside pro’ crowdfunding tips and come from our experience launching various campaigns successfully (and unsuccessfully) over the past few years. Crowdfunding can be tough and the more information you have at your fingertips the better placed you are to launch a successful project.
1. When is the worst time to launch a crowdfunding campaign?
The leading platforms will argue that there is never a ‘worst’ time to launch a campaign, however from experience, there are certainly times in the year that are likely to make a launch harder than others.
Probably the most difficult time to launch a campaign is in January, followed by August. Why these months? Well, January is one of the hardest months to crowdfund in as people have the less disposable income to spend after Christmas and many people are away for summer break during August.
This ultimately means if you plan to launch in either month you will have to work even harder to get people to support you and make your campaign a success. It’s not impossible, and launching in January may be vital to the success of your campaign e.g. delivering a product for springtime, but compared to if you launch at any other time of the year it will be harder.
2. What information should I include on my campaign page?
Your campaign page has 1 purpose, to convert people into backers. How do you decide what information to include on your page? Simply, think from the ‘backers’ perspective. Why would a backer desire to support your project? What needs and desires does a backer have that your campaign offers them? How will their support make them feel? What visual and written content do they need to see to help compel them to trust you and support you? What messaging is going to evoke the right response of support from them? These are all questions to think about and answer when designing your page.
Some simple tips to help increase conversion are:
- Make your campaign personal by including information about the team behind the project.
- Include lots of nice imagery and photos rather than long paragraphs of text. Make sure the photos you show are relevant. e.g if you have a campaign for a craft food stall, include photos of people enjoying eating food at your venue.
- Create rewards/perks that are simple to understand and choose between. If you have too many options this causes confusion and delay due to too much choice. This will inevitably make people go away to think about what to do rather than supporting you then and there. This will lead to missing out on vital sales.
3. What type of marketing should I use to promote my project?
One of the main principles of crowdfunding is to build a ‘crowd’ before you launch a campaign. For most campaigns, this means implementing various marketing strategies, which reach out to your intended audience and communicate your message.
The easiest and cheapest way for you to let a large number of people know about your project and what you are doing is to use social media. Setting up a Facebook, Twitter or any other social media account will be very beneficial to getting your message out there.
When using social media develop a strategy to release a post or number of posts each day, which give an insight into your project, the people involved and the problems your cause/project is solving.
Make your posts personal and this will help you to connect with your audience and make them aware of what you are doing. Remember people can only support you if they know about you. So mass, consistent communication will build up real momentum behind your campaign.
It’s a good idea to set a team member who is responsible for arranging social media every day. They should write frequent, engaging posts with links and build momentum behind the campaign.
Other areas of marketing include ‘paid advertising campaigns’ on platforms like Facebook or Google Adwords. But you will need a separate ad budget to pay for the ads. This can be costly but also very effective at getting ‘cold’ leads and traffic.
If you launch an advertising campaign, direct the traffic from the ad campaign to a landing page, which captures the leads email address. You can then launch an email marketing campaign, which nurtures a relationship with the lead and entices them to support you.
PR can also be a great way to gain exposure about your project and attract interest, however, PR normally isn’t great at converting more sales, so if your budget is limited think carefully about how much money you invest into a PR strategy.
Optimising your campaign to be the best in can be is the best way to make it successful. Take on board the advice above to improve your campaign and avoid the pitfalls many projects make. If you are stuck and wish more guidance and support then consider hiring a crowdfunding marketing agency like Wow Your Crowd to help launch your campaign. An agency’s experience and knowledge can save you time and money in the long run. To your future success!
