Doesn’t work. And today I’m going to blow the lid off the myth that Facebook ads help crowdfunding projects – or most anything else for that matter. Sign me up as an honorary member of MythBusters.
What got me started? Today I spoke with a new crowdfunder who ran over his crowdfunding campaign marketing budget with me and I finally got tired of hearing what I hear every week “We’re going to devote some money to advertise our crowdfunding campaign on Facebook and…”
In the immortal words of Kevin “Mr. Wonderful” O’Leary of Shark Tank fame “Stop the madness!”
Facebook ads don’t work in many situations and not in ANY crowdfunding project promotion scenario. Unless you’re promoting Coca Cola, Hebrew National, United Airlines, Bank of America or another huge company looking to reinforce their brand or grow an audience with the long-term goal of building a loyal customer base for future sales.
Notice how the previous sentence is totally NOT what you’re shooting for when achieving a crowdfunding goal?
When you launch a crowdfunding project the clock is ticking. You have anywhere from 15-60 days (in most cases) to hit your goal then it’s game over. “Long term goals” and “future sales” are exactly what you DON’T want from crowdfunding promotion with Facebook ads. You need to get crowdfunding backers and you want them NOW to achieve crowdfunding success. Facebook ads aren’t going to do that for you.
Even if you’re the CEO of of a billion dollar Las Vegas resort or the Senior Vice President of Marketing for Amazon.Com you might want to think twice about Facebook Ads for any reason at all.
You might be thinking “Hey, what if my Facebook ads are targeted? Targeted Facebook ads work, right?”
Why? I’ll let the brilliant people of Veritasium explain it in breathtaking detail with lots of graphs, charts and statistics. Don’t worry – not a single second of it is boring.
Not convinced? Here’s even more food for thought from a marketing blog: The Truth About Facebook Ads: They Don’t Actually Work.
Had enough? Want some more? Your mouse is set to the “stun” setting as you take this Wall Street Journal poll on Facebook Ads. After your eyes pop out of your head as you see the poll results you should read the blizzard of comments that appear directly below.
Promoting a crowdfunding campaign with Facebook works. Just not with Facebook ads. Do it organically. That’s what we do every day when we advertise crowdfunding projects for our clients.