Currently, the way of doing business, especially for small companies or independent projects, is following non-traditional models. One of the most used strategies for this type of entrepreneur is crowdfunding, a tool through which consumers or potential investors finance the creation of a product or service instead of paying for it once it is finished. The problem is that the strategy doesn’t always work for everyone, so here are some strategies that will help you succeed in your campaign.
How to get into crowdfunding and not die trying.
1. Start only when you are ready: No potential collaborator is going to contribute to a project that does not feel finished. If you are going to start a campaign, make sure you know your product perfectly, your market and have a planned strategy, nothing to do on the fly. You have to generate trust and expectation in customers, and speak of expectation.
2. Generate audience interest before and during your campaign: Before you even pitch your campaign out in the open, try to build a strong fan base. It is advisable to use viral marketing strategies and generate customer expectations so that, once the campaign has started, people will automatically approach you. Now, once you have them hooked and they already know about your project, it is essential to keep them captive and continue serving them. It is very helpful at this point to rely on a digital marketing agency that understands the feelings of the audience.
3. Choose the best rewards strategy: When someone contributes to a crowdfunding campaign, the logical thing is that they expect a certain reward for their investment. Whether you’re designing a rewards system or evenly sharing project profits, you should always make it clear that your supporters won’t be left empty-handed.
4. Choose the best platform to make your message known: do not doubt the power of social networks to go viral. Choose which sector of the market you are appealing to and decide which social network works best for them. Once that is identified, do not neglect that platform and seek the attention of the public that is on it.
5. Get a great video: Statistically, the most successful crowdfunding campaigns have had a very well done video presentation. This video must not only be explanatory, clear and concise, but also be attractive. A video has to show professionalism, commitment and, above all, go directly to the public from whom you seek support.
6. Keep things personal: always address the public in the second person, share as much as possible the history of the project, of the people behind it; your experience, achievements and strategy; Try not to operate like a corporation with no face or identity, but rather like a friendly person seeking support from other friendly people. It is, after all, about people helping people.
7. Clear accounts: always inform your collaborators how the money they invest will be used or is being used, share news about the progress or delay in your idea and, finally, choose an all-or-nothing strategy, in which, if the project is not carried out, everyone will receive in full what they invested.
With these guidelines, your chances of growing from the support of third parties will increase significantly and your project will be another success story and not another idea that was left in a can. As Erica Labovitz, founder of the crowdfunding platform IndieGogo, one of the largest in the world, said, “Crowdfunding is nothing new. Most don’t know that the Statue of Liberty was funded this way.” Tweet This!
The difference, as she also points out, is the number of people who have access these days, so we must not waste the possibilities that the Internet gives us.
Do you want support to promote your idea and succeed in crowdfunding? Come to LDM!
