Crowdfunding Marketing — The Wrong Way and the Right Way.
Crowdfunding marketing is a crucial cornerstone to crowdfunding success. Without it, a crowdfunding project cannot hit its goal. With it, a startup can put itself on the map and raise a lot of money fast. What crowdfunders need to assimilate into their very souls is that they must spend money promoting a crowdfunding campaign. Spamming people to contribute to it, spamming journalists to cover it and otherwise begging for money doesn’t work. It has never worked and it will never work. Crowdfunding promotion done this way comes with zero risk and zero cost and also a zero chance of getting any results.
On day one of most Business 101 courses the professor tells the class one way or another a business axiom; “The bigger the risk the bigger the reward.”
Like a lot of people I’m a huge Star Trek fan. This YouTube clip from the “Tapestries” episode of Star Trek: The Next Generation best summarizes the necessity of taking a chance on crowdfunding marketing:
One reason the crowdfunding failure rate is so high is because crowdfunders don’t take risks. Deanna Troi hinted at this: “You’ve had lofty goals but you’ve never been willing to do what’s necessary to obtain them.” Commander Riker put it right out there:”If you want to get ahead you have to take chances. Stand out in a crowd. Get noticed.” Q himself topped it off at the end of the clip above, “He learned to play it safe and he never, EVER got noticed by anyone.”
This is the most life-changing three minutes of television in broadcast history as it delivered such a powerful, concentrated dose of wisdom and reality.
If you don’t take risks to stand out in the crowd you won’t get noticed. If you play it safe your crowdfunding campaign won’t get noticed and it’s game over. You must take risks and spend money on crowdfunding marketing in some form or your campaign won’t stand out in the crowd or get noticed either.
Over the years I’ve beaten the topic of crowdfunding marketing to death and have more-or-less committed to making this my last blog article on the topic. To celebrate this milestone of “letting go” I’m going to share a few of the latest examples of crowdfunding marketing insanity from people who thought they could hit their crowdfunding goal by spamming people, begging for free crowdfunding promotion, etc.
Some sad new trend seems to be that Kickstarter and Indiegogo campaign managers seek out and spam anyone and every registered user on either platform. Up until April 2017 I have never seen anything like this. Since I entered the crowdfunding world in 2011 I thought I’d seen it all. I can’t even imagine what someone must be thinking when they do something so obviously stupid and desperate. See it for yourself…
In this first screen shot there wasn’t even the courtesy of an actual request. He just forwarded me the email from Kickstarter confirming his campaign was live. We sent a professional reply which was ignored. This is the worst possible form of crowdfunding spam.
In this screen shot is a different kind of crowdfunding spam. I’m not sure how he located me on Indiegogo or why he decided to contact me this way but he did. This time I just ignored his request completely. Notice how he also experienced a humiliating crowdfunding failure.
Apparently directly contacting complete strangers on Indiegogo begging them to help their crowdfunding campaign has become a new thing as shown here.
This guy had the balls to come out and beg us to work for free on crowdfunding marketing for his Kickstarter. When we politely replied that we can’t work for free and offered him our $399 Base crowdfunding promotion package he said he didn’t have any money.
We’ve heard this a thousand times before. It runs along the lines of “I don’t have any money to pay for crowdfunding promotion services. That’s why I’m crowdfunding.”
And we just sit back with our mouths hanging open shocked at how utterly clueless these people are. It’s the reason why I blogged about this in my post Crowdfunding the Gordon Ramsay Way
This brings to mind another fact of life in the business world – “It takes money to make money.”
By extension you need to spend money on crowdfunding PR and advertising to tell the world about your crowdfunding campaign and raise public awareness. If you don’t, hitting your crowdfunding goal is impossible. Crowdfunding marketing of any kind must be done professionally with courtesy and consideration and concentration on what the needs and interests of your potential backers are. If you want your crowdfunding marketing done the right way we’ll be happy to help.