20 Important Tips Every Crowdfunding Project Creator Should Know

October 14, 2020

Image credit: Lovefreund

20 Important Tips Every Crowdfunding Project Creator Should Know

Planning a crowdfunding campaign is not an easy process. It takes time and a lot of research to get the success every campaign creator craves. However, by using these simple tactics when planning your campaign, you can get the outcome you desire. These 20 important tips are ones you should begin with.

No matter which phase of the campaign you’re in—pre-launch, ongoing campaign, or post-launch—you can’t make it without a strategic plan. What do we mean by a strategic plan? It depends entirely on what kind of crowdfunding project you’re launching. It also matters how long the campaign will run. The type of product, duration, and funding goal will determine your campaign plan’s needs.

In fact, you need to think of ways to increase the outreach and attract more potential backers towards your project. But these are real people we are talking about. Spammy marketing strategies won’t work with them. What you need is something totally genuine and out of the box. You can always brainstorm your ideas with your team if you’re working with one. If you’re working alone, use forums for discussion to come up with fresh ideas to make your project even more successful.

Here are 20 important tips and tactics that will help you start planning your crowdfunding campaign.

1. Plan your social media strategy beforehand.

Gather a good follower base prior to the launch of your product to help build your credibility. The ideal platforms for promotion are Facebook, Instagram, and Twitter.

2. Make catchy posts.

Make sure your posts on social media platforms are catchy—not repetitive. The best idea is to highlight the features of your product as much as possible. To maintain variety, post industry trends based on your product type. Also participate in social media discussions for engagement.

3. Have a blog.

On a blog, you can talk about progress with your product. You can even discuss the benefits of using your product throughout your campaign to gain more backers. Good headlines are a must in this case, and the CoSchedule Headline Analyzer is a helpful tool in determining reader-friendly titles.

4. Strategize accordingly.

You can have different strategies for different social media channels. For example, use Twitter as a forum to chat with your potential backers. On Instagram, interact with your followers through images.

5. Take standout product images.

Put some extra effort into product photography. Based on promotions we’ve done so far, high-quality lifestyle images perform better than white background images. Remember that these images are the only examples customers get to see before they spend money on your project.

6. Create a succinct pitch video.

Make your pitch video brief by avoiding unnecessary filming. Stick to the point and show only what’s important to customers and thus crucial for getting your campaign funded.

7. Always reply.

Never miss out on replying to comments, social media interactions, and emails that you receive from backers during your campaign period. Be prompt and build trust that way.

8. Manage social media.

Social media management tools like Buffer and Hootsuite can help you plan consistently. Make sure you don’t post the same thing again and again. Be creative and make your posts unique.

9. Use proper Twitter protocol.

On Twitter, always use a period or any other punctuation mark if you are beginning a public tweet with an @. Otherwise, your tweet will be considered private and reach only the user you mentioned with the @ sign. That means it won’t reach all your followers.

10. Research hashtags.

Research the best hashtags to use with your project and add them to your tweets or Instagram posts whenever possible. No more than a couple per post is considered a good rule of thumb.

11. Add live demos.

Because you can add media to your social media posts, test adding live demonstrations of your product. This shows your backers what it will be like when they get to use it.

12. Connect with backers in real-time.

Try Facebook Live or Instagram Live as a way to chat with your backers in real-time. This gives you credibility and makes your project more trustworthy.

13. Use messaging platforms.

Social media messaging platforms exist for a reason. Use them to thank your backers personally and attend to their queries.

14. Craft engaging newsletters.

Try platforms like Mailchimp or Campaign Monitor to make catchy newsletters throughout your campaign. Be a bit tight with the frequency, though! An email every day asking people to back your project might sound great, but it will seem like spam.

15. Connect with contacts.

Reach out to your contacts and share your project with them. Ask them to reshare it within their community to spread the news. Word of mouth marketing is niche but often generates great outreach.

16. Link, link, link.

Everywhere you market your project, make sure you add the link to your crowdfunding campaign.

17. Think like a backer.

Think from the perspective of a backer to determine whether you’d be interested in sharing the project on your social media channels. When it comes to promoting your product, try and answer questions backers want to know.

18. Stay up to date.

Constantly review your campaign dashboard and keep checking where the traffic is coming from. Work on your strategies accordingly.

19. Make connections.

Reach out to bloggers who might be interested in doing a review on your product. Politely ask for a review from them. Remember, you’ll need to pay them for their time and give them a sample product as well.

20. Stay focused.

Finally, always remember to focus on what you’re creating rather than the money you’re raising.

Getting success with crowdfunding is tricky. But, if you know how to build an outstanding product as well as promote it efficiently, there’s no stopping you from a successful campaign. Don’t make promises you can’t keep, and make sure you stay on schedule. Promising an early delivery that you can’t meet may harm your brand’s credibility.