10 Tips On Running A Successful Crowdfunding Campaign For New Entrepreneurs

Crowdfunding platforms have grown in popularity ever since their rise in 2009. In fact, crowdfunding projects in North America alone generate an average of around $17.2 billion per year! The crowdfunding market is also forecasted to maintain a 16% compound annual growth rate (CAGR) per year, which means, if you plan on running a crowdfunding campaign, you’ll be a droplet in an ocean full of goals and timelines.

So, with so many campaigns already out there, how will you be able to set your campaign apart? Or maybe the better question is: how should you run your campaign for it to come out successful? Listed below are a few helpful techniques and strategies to help you push your crowdfunding campaign to greater heights.

Research, Research, Research!

As with any worthwhile endeavor, some added knowledge and research are bound to brighten your perspective. If you’re done researching for the product or service you’ll be pitching, you’ll have to do more for the actual campaign strategy you’re going to use. This means stepping back and taking a look at the bigger picture. The following are a couple of important points to research on before taking any step forward:

  • Identify your target audience. You can’t appeal to everyone, so it’s best to focus on your chosen demographic. Research what they might like or dislike. Relying on hard facts and data is key; it’s best not to assume traits or preferences. Learn their language and use it to write good copy. Set rewards that will cater to them.
  • Look into your options for crowdfunding platforms and weigh the pros and cons of using each one. There might be some more suited to your niche than others, so make sure you widen your options. The platform you choose will be what manages your tracking and your goals, so make sure it is aligned with how you imagine your campaign should be presented to the public.
  • Research about other campaigns. Which ones failed? Which ones succeeded? What are the factors that set these groups apart? Once you’ve connected the dots, you’ll gain more insight on what elements you can add to your approach.

Build A Community Before Launch

Even before actually launching your campaign, you can already build interest and grow a community that is sure to support you once you’ve cemented your next few steps. Owning a blog or having an account with a huge following on social media are usually huge pluses when it comes to forming interest prelaunch, but if you’re going to start from scratch, using channels such as questionnaires, surveys, newsletters, and even teaser splash pages will be enough to gain a following.

Market On Social Media

The wider your reach, the better. On social media, everything can spread like wildfire. It’s all about using the proper content, timing, and a lot of hard work. Frequent and consistent posting and engagement is key, after all. Utilize hashtags to your advantage, and invest in using ads. Make sure you use what you learned during your research phase, for example, taking into account hashtags your target demographic uses, or which social media platforms they are abundant in, and which clusters, groups, or organizations they surround themselves with. If you can, partner up with influencers who can speak to your target audience about your campaign.

Make Use Of Multimedia

Videos are a great medium for communication, as they are more efficient to digest than blocks of text and pictures. This is why your videos, especially your main explainer video, should be eye-catching while being concise. The thumbnail and the first 20 seconds of your video are all it takes to create that first impression, so make sure these already give a gist of what your campaign has to offer. Take note that you don’t have to personally edit and shoot all your videos. Hiring professionals who can do this for you will be well worth it.

Host Events And Giveaways Every So Often

Most of the time, during the middle of a campaign, a slump occurs. To get the community back on track with support, you can host virtual events, complete with freebies and giveaways! This will get people talking about your campaign again, and will end up giving you that needed boost.

Share Your Personal Story

Sharing the story behind why you choose to push through with this campaign will be a huge factor when it comes to gaining people’s trust. Introduce yourself and your plans, and show people how passionate you are about the project. Tell them your budget, your game plan, the whys behind your decisions. All these little details will help build their perception of you and your campaign, and when expressed in a way backed by earlier research, can be compelling enough to help nudge them onboard.

Communicate Openly

Sharing your story is only half the battle. Once your campaign has launched, your backers and supporters will expect you to give updates every now and then, especially after the funds have been raised. Transparency is key to build trust, especially in the world of crowdfunding.

Listen To Feedback

Listening to feedback, whether it’s before launch or during launch, is essential. Your target audience is directly giving you information on what they need, after all, the least you could do is hear them out. Some of their ideas have the potential to make your product or service better… or worse. Talk to your backers, create healthy discussions. Give them that yes or no, and the reasons why. Make a poll if you are torn on deciding certain aspects.

Follow Through On Promises

Finally, you should follow through on any promises made during the course of the fundraiser. Not only does this build more trust with your community, this gives you more credibility. This will be very useful if you set out to push through with more endeavors.

Digital Presence and What It Can Do For Your Business

The storefront is one of the most important eyecatchers of any brick and mortar business, as this is what makes or breaks the first impression of any passerby. What follows, of course, are interactions and transactions that strengthen the business’ branding and relations with their clients and partners.

It is not a surprise that the Information Age has revolutionized this landscape of catching eyes and improving relations. After all, the digital landscape has already made itself part of the environment the majority of us need to tread through both our personal and professional lives. This speedy growth of the internet realm makes it increasingly important to have what is called a “Digital Presence”.

A digital presence, simply put, is quite like having a digital storefront. It is concerned with how you “show” your business online. Of course, it roots far deeper than that. And, of course, not all digital presence can be considered good or beneficial. The following are a few good examples of good online presence that any business should attempt to achieve.

A Well Maintained Website With Good Traffic

First thing’s first: a business needs a good visual representation of their business, and nothing embodies this branding more than a website. A website can become anything you want it to be, and it is usually this freedom that can prove daunting when creating your first business website.

The function of your website may vary, from promoting to a wider audience, to securing transactions. Regardless of purpose, however, your website should be able to tell your potential clients and partners who you are, what your business is about, and what products or services you offer. Give them a form to contact you with, so that any inquiries, suggestions, and feedback may be entertained.

If you have a range of services, throw in some pictures and descriptions, if you can. A blog that gives a sneak peek on your business’ concerns would be a good touch to relate to your would-be consumers, as well. Such details and content expressed coherently not only reaches out to your customers and sets their expectations, but these details also set you apart from other businesses.

Having a coherent look and feel on your website is another good way to keep your audience’s attention, and giving them a good user experience (no site errors, smooth navigation from one page to another, visible and intuitive buttons and functions) would be the cherry on top.

A good-looking website will not be enough, of course. What makes a website good is the amount of traffic it manages to attract and retain, and, ultimately, to convert into interested and willing clients. For this, your business will need…

Advertising That Converts

Digital ads are rampant in the online world. They exist to promote products and brands to people scrolling through search engine results and social media sites. Although some ads may be quite common, they don’t always catch people’s eye or attention. A good tip for online ads would be to use noticeable colors, ones that set you apart.

For text ads, use catchy and relevant taglines. Such ads not only increase visibility (and clickability), but also increase brand recognition and contribute to your business’ identity as a whole. You wouldn’t want your business to be seen as one that is “out of touch” with its target market, would you?

Interactive Social Media Communities

Marketing used to be a one-way endeavor. Although word-of-mouth promotion exists, the difference between today and before boils down to the possibility for businesses to openly and publicly interact with its customers. This builds a strong sense of community around what businesses can offer. Utilizing the “social” in social media will not only help you widen your reach, it will also help you get to know your consumers more, on a more conversational level, too.

Visible Business Listing

Finally, a visible business listing will allow for a more professional viewership of your company’s values and offerings. Posting about your company on business listing platforms will help you push your SEO rankings further up, and make your business more visible to those who search for what you offer.

Working on your digital presence is definitely not going to be an overnight job. As with anything of great value, it will take a refined vision, hard work, and a few ounces of patience to get your business to the sweet spot of the internet.