It’s easy to downplay the need to implement a crowdfunding marketing strategy. A few years ago, a company could set up a crowdfunding page, talk to a few key personnel, and wait for willing donors to find them.
In today’s current landscape, a successful outcome is improbable. The World Bank predicts by 2025 crowdfunding investments will reach $96 billion per year in just developing countries.
Initially, this question seems easy to answer… Donors who want to give us money.
If only it were that easy. Each new idea offers something different to different customers and your marketing strategy should reflect that.
- What does your idea give to them?
- Is it the promise of future dividends or do they want to be a part of something bigger?
- Who influences their decisions?
- What do they read? (books, websites, magazines)
- Who do they follow on social media?
- What trends influence their choices?
What activities do they participate in?
What are they passionate about?
The more you can dial in on your core customer, the greater chance at reaching donors.
There are plenty of options available and each platform has different terms. GoFundMe, KickStarter and Indiegogo are a few examples.
Breakdown content into brief, precise chunks of information. It is your job to make crowdfunding marketing content easily digestible for the reader.
In a nutshell, use the format AIDA. Attention, Interest, Desire, Action.
EXPERT TIP: Use high definition pictures for blogs, press releases and social networks. Additionally, you will need these especially if the press is interested in a project.
Since you did your research, answers from the above questions will inform your blog posts. Ultimately, you want to build trust with potential investors.
This is accomplished by speaking to their interests and representing yourself as a credible company.
Simply asking for money doesn’t work. Investors want to get to know you.Create a list of topics and post weekly so you have enough fresh content for visitors to consume.
A landing page is part of your lead generation strategy and it is where you send potential investors to qualify them. Here, you give them the option to provide their email address and in return, you can send more information and updates about your company.
WordPress has a variety of plugins such as Instapage to help you create customized landing pages.
Everyone has a different preference in how they consume information. Some prefer written blog posts or lengthy emails while others think that takes too long and they resonate with video and still others prefer infographics.
Utilizing a variety of content tools allows you to cater to potential investor preferences as well as keep content interesting.
A popular and effective method for boosting the number of investors is give out rewards. You can create a tired monetary requirement or a “First Investor” incentive.
For example, if an investor donates $1000 they receive the product right after it goes to production or if they donate $5000 they receive the product three months after it goes to production.
Similarly, you can offer special bonuses for the earliest investors such as a larger percentage off your product or swag only available to the first 100 investors.
It is important that you go where the attention is. Therefore, set up social media pages across different channels such as Facebook, Instagram and Twitter (to name a few) so you can connect with potential investors and promote your idea.
EXPERT TIP: Many companies make the mistake of focusing only on what they can gain from social media (ie. Comments or shares). It’s equally important to engage with individuals on these channels. If someone comments, askes a question or provides feedback… answer and thank them.
Always, always, ALWAYS deliver value. Whether it’s content, giving an investor the ability to contribute beyond themselves or providing extra benefits for investors. It’s important to add value before you ask for anything.
By using these steps you may increase the odds of excelling in a pool of companies jumping on the crowdfunding train.
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