Want to run a successful crowdfunding campaign in 2019? Take a look at some of these tips.
One thing is for sure, crowdfunding is an incredibly challenging task and one that ends in disappointment for the vast majority of creators who put them into action. After all, recent studies show that little more than 36% of crowdfunding campaigns are successful and the rest are left in the hands of failure.
But how can you be on the right side of these numbers and run a successful crowdfunding campaign?
Well, much of the process comes down to effective marketing and PR techniques. Even without any experience in these areas, the actual process is pretty straightforward. In other words, absolutely anyone can put the same strategies in place that will enable them to find success with crowdfunding.
With this in mind, here are ten tips to run a successful crowdfunding campaign on Fundpey.com in 2019:
1. Focus on Meaningful Rewards that Create Supporters
For many creators, they fail to realize the importance of rewards and how these small perks are the best way to entice people to actually back a crowdfunding campaign. What’s more, these rewards are the perfect opportunity to get backers more involved in the project and turn interested folk into advocates and avid supporters of the idea, product or service.
2. Understand the Importance of Stretch Rewards
Now, aside from the above mentioned rewards, you should also try to have what marketer professionals refer to as a “stretch reward”. Simply put, this a reward that you can hold back for a later time in the campaign. In other words, you can give backers a reason to stay interested and a future benefit that will encourage them to invest in the concept.
3. Network Like Crazy in the Right Places
Another area where creators fall down is failing to accept that they need help with a crowdfunding campaign to be successful. One way to find this help is to network on Linkedin as much as possible and find like-minded people on there who might be able to assist with the campaign.
For example, you can contact bloggers, potential investors and relevant influencers on this platform that can have input or promote the crowdfunding campaign.
Now, you can do this on Facebook, Instagram or any other type of media but the truth is, Linkedin is taking great strides in recent times and your chances of receiving a serious reply on this platform are significantly higher than anywhere else.
4. Prepare a Press Release and Contact Major Media Platforms
The truth is, press coverage can sometimes be the most influential way to reach a wider market with your crowdfunding efforts. Yes, this will require a much more professional and time consuming approach but taking time to get the attention of mainstream media can be hugely beneficial.
At the same time, rather than sending a quick or lazy email to the editors, take time to research the type of story and style of whatever publications you target. In most cases, you will find an outline of their requirements in the contact page but either way, keep it relevant and keep it interesting.
5. Become an Expert and Demonstrate Your Knowledge (for Free)
You know, the best way to capture attention is often to provide value without any expectation of receiving something in return. That is to say, try to give value to others on their terms before asking for offering further value on your own terms later on.
In terms of a crowdfunding campaign, this can simply be done by providing your knowledge and experience for free on platforms such as Quora, Reddit or Linkedin. After providing enough genuine value, this will usually incite interest from an audience but just as importantly, this will also provide a solid foundation on which you can use to request support for your crowdfunding campaign.
6. Create a Minimum Viable Product (MVP)
In case you might be asking yourself, minimum viable product refers to the simplest and easiest version of whatever you might be creating. With this in mind, it’s not necessary to perfect what you might be funding but tr to at least create an MVP that will enable backers to envision what you do.
Also, creating a minimum viable product can significantly reduce risk and save money for the campaign in a sense that it can point out vital things that need to be changed or altered in order to improve the product or service.
7. Maintain a Realistic and Specific Outlook for Your Crowdfunding Campaign.
For many creators, the objective might be to raise as much money as possible but for crowdfunding success, you also need to be both specific and realistic.
In order to achieve the above, you should set a very realistic goal that will help the project advance but also an amount to cover the minimum needed to succeed. This way, you have a backup plan.
On the other hand, setting specific numbers is just as important, for the law of attraction is usually right in business and whatever numbers you set are usually the numbers you tend to achieve.
8. Come with a Compelling Story
When you start creating a crowdfunding campaign for the first time, it’s easy to get caught up in the formalities. In fact, while you may have the right number and information in place, there is often a much more influential factor that you need to remember – the story.
If you take a look at most successful crowdfunding campaign, they have an interesting and compelling story that demands attention and encourages potential backers to get involved. Without this story, you are just another product or service with the same benefits and features as everyone else.
9. Prepare Content Prior to the Campaign
Preparing content for the campaign is critical to success and the only way to gain momentum in crowdfunding. In case you might be asking yourself, this can relate to writing blogs, creating videos and preparing other forms of content in advance of the launch.
When you have this content ready, you can then drip feed the content to followers over the course of the campaign and spend the rest of your time promoting this content.
10. Be Relentless and Promote through Various Channels of
You might notice that every influencer and business has a presence on various channels of media. Whether you need to duplicate or re-purpose content, it’s important to get your message out to as many people as possible and this means embracing more than just one or two channels of communication.
For example, blogs can be re-purposed for Facebook posts and the titles can then be distributed on Twitter. Either way, it’s important to be relentless during the campaign and try to attain a certain amount of virality, or getting the word out quickly, to get traction for your crowdfunding campaign.
As you can see, starting a crowdfunding campaign is one thing but getting any real traction is a different story. Either way, with the right application and the above tips, you should stand a much better chance of running a successful crowdfunding campaign in 2019. Click here to register your crowdfunding campaign on Fundpey.com.