Launching a new business or start-up is never easy. It requires money, planning, and more money. Whether you are trying to get a new product off the ground or looking to grow your business, crowdfunding provides an alternative to traditional funding.
As the popularity of crowdfunding campaigns has increased, so has the variety of potential investors. Though, this has also led to an increase in competition.
If you have a crowdfunding idea that you want to get funded, you need to compete with other startups, businesses, and individuals that are also looking to the public for backing.
So, with that in mind, you need to market your campaign just as you would any other product or service. Here are 10 ways to start marketing your crowdfunding campaign and reach your goal.
#1 – You Need to Humble Yourself
Many people still have the opinion that crowdfunding is best left to individuals or small startups with great ideas – not professional businesses that already have the resources to get a project off the ground.
The first step to properly marketing your crowdfunding campaign is to avoid coming across as too professional. You need to humble yourself. It is okay to point out some of the issues that you are still working on or add humor to your marketing message.
These steps will help your campaign appear more casual and less corporate. Otherwise, you run the risk of people wondering why your product needs crowdfunding.
#2 – Make Sure That Your Campaign is Unique
As with any product launch or business idea, you should research the market ahead of time. Make sure that your campaign is unique. If there are hundreds of other startups promoting similar products, then people may not be ready for yet another addition.
You want your crowdfunding campaign to stand out. Search crowdfunding websites and see what else is out there. If you see similar products, look for a way to spin your idea in a new and creative way. This can help you with the previous tip – making your campaign appear less slick and professional.
#3 – You Need to Add Value to the Investment
You will find it easier to gain investors if you offer something in return. People want an immediate return on their investment, instead of simply getting the chance to be your first customers once your product is released.
Add value to your investment. Create different price points with different offers. Give people more of a reason to invest.
For example, even someone backs your project with $20, you could give them a T-shirt. If they invest a large sum of money, they might get an early version of your product.
Giving your investors something of value, even it is not directly connected to your product, will give them more of a reason to invest. You are making it worth their while to invest in your product.
#4 – Be Prepared to Build Excitement
Before you start your campaign, you need to be prepared. The funding window will only be open for a set period.
So, you do not want to wait until the first day of your campaign to begin promoting. You want to build excitement before, during, and after you have launched your campaign.
Start an advertising campaign promoting your upcoming crowdfunding campaign. Get people interested before they can even invest in your product. Then, once your campaign starts, you should have backers ready to invest.
#5 – Create a Story with Your Marketing
Your crowdfunding campaign needs a story to go with it. There needs to be a reason why you created this product or new business idea. Instead of simply talking about what your new idea will do or how it will work, you want to explain the creation process.
This story should also discuss the reasons why you are using crowdfunding options instead of traditional investments. People will want to know why you did not go to a bank or lender.
#6 – Make Sure That Your Campaign is Credible
The first tip is that you need to appear humble. You want to appear less professional. Though, there is a fine line between being humble and appearing too unprofessional.
You do not want to take away any credibility from your campaign. So, add credibility by including plenty of details about your product or business idea. This includes facts and figures related to the cost of the project, along with forecasts.
#7 – Include Visuals to Highlight Your Product
Your marketing campaign should include visuals. This will also add to your credibility. People will be able to see that you have a real idea.
These visuals include photos and videos. Show people that the product or business idea works. This could include a short video introducing your project or an entertaining video to help you generate more interest.
#8 – Take Advantage of Your Website and Social Media
You need to tie your crowdfunding campaign into your other marketing efforts. This means prominently displaying a link or information about your campaign on the homepage of your website.
You can also take advantage of social media. Share details about your campaign, but do not drown your followers with these posts.
You should continue to stick to your existing social media marketing strategy and include a mixture of business posts and curated content.
#9 – Create a Campaign Launch Event
Connecting the launch of your crowdfunding campaign to a special promotional event can help build awareness. Set a launch event to coincide with the start of your crowdfunding campaign.
If you follow the other tips, then you will have already been hard at work building interest around your new campaign. Use this momentum to promote a launch event. Give discounts on existing products or provide other promotional offers.
#10 – Pay Attention to Your Online Reputation
As a final tip, you need to pay attention to your online reputation. If you have already been in business, then potential investors can learn more about your company. They can view past reviews, comments, and details about previous products.
If you have a negative online reputation, then you should improve the image of your business. This means focusing on new, positive feedback. Remind and encourage your existing customers to leave reviews after they have made a purchase.
There is more to crowdfunding than simply putting together your project and waiting for investors. It requires hard work to get people to notice your project. You need to actively market your crowdfunding campaign, starting with these 10 simple steps.
Now, put these tips into action. Start marketing your crowdfunding campaign and increase your chances of reaching your funding target.