Crowdfunding Planning is the First Best Step in Achieving Crowdfunding Success.
You heard all the hoopla and decoded some of the hype and decided you want to use crowdfunding to help grow your business or help your non-profit. As you proceed you need to bear in mind that crowdfunding planning shouldn’t be considered optional; it should be considered a necessity.
Before you surf over to Indiegogo or Kickstarter, type up a 2-3 paragraph summary with some perk pricing and click [ launch ] you’ve got a lot of prep work to do.
Please don’t laugh – I’ve SEEN crowdfunding campaigns just as I described and naturally these projects crash and burn without even coming close to their funding goal.
Why? A total lack of crowdfunding planning.
If you’re looking to achieve crowdfunding success ditch any illusions you might have had about “build it and they will come.” Make sure you follow these crowdfunding tips for all the reality you need. You can only be taken seriously when planning a crowdfunding campaign if you don’t take a shortcut.
1 Build an audience before you launch
Crowdfunding planning starts with planning on who your potential backers are mostly to be. At a minimum, make sure you have a Facebook page, a Twitter feed and a good looking website that’s capable of signing up new subscribers to an email list. Depending on the nature of your product or service, it’s a good idea to have a presence on Instagram and Pinterest too.
Building an audience of interested people in advance could be pivotal to crowdfunding success because those people can be called on to back your campaign on day one and during the first week which are widely considered to be the most valuable time in establishing a beachhead on achieving crowdfunding success. Why? Because if your campaign has a lot of interest and energy (translation: backers!) early on, the law of attraction kicks in on so many levels in terms of the Indiegogo algorithm (The Gogofactor) and Kickstarter’s own internal metrics for a campaign’s ranking, positioning and even coveted staff picks, front page featuring and more. Added bonus? Crowdfunding public relations can go into overdrive if journalists, reporters, editors and bloggers take a look at your campaign and see what all the fuss is about.
2 Tell a good story
As you prepare your actual crowdfunding project write up a compelling story. Tell the world what makes your product different. Why should they buy *your* RFID wallet? Or Bluetooth enabled doggie dish? Or a digital download of your film? Your music? You have to be persuasive so that the people that land on your project page will be persuaded to become a backer – otherwise known as a customer.
Crowdfunding really is just a form of selling and a crowdfunding campaign is really nothing more than one page sales “squeeze page” that professional copywriters and top pro web designers know all about. Planning a crowdfunding campaign can’t ever disregard this critical element; when all is said and done you’re trying to generate sales.
3 Have excellent media to enhance your story
Don’t even think about launching a crowdfunding campaign without a pitch video. Your pitch video is what people can click [ play ] on when they first land on your campaign page. It should be short and sweet – with four minutes being the industry standard. However, a longer video is absolutely fine if you have something important to say and can do it in an entertaining, engaging manner. On the other hand, you can do an excellent video in three or even two minutes if your product is very clear cut and easily understood to be something that anyone can benefit from.
Similarly, you want to pepper pictures throughout your campaign story that support your writing. The pictures should be contextual to what is being said at that point in the story and reinforce the message in your writing. Appealing visuals are very powerful and should be fully deployed to best advantage. You’re not doing your job in crowdfunding planning if you skip this step or take a shortcut.
If you need help selecting a videographer for your crowdfunding video just let us know. We work with highly skilled video professionals and can help you make the right choice.
4 Schedule daily project time
Crowdfunding is HARD WORK. Nobody should have the illusion that they just need to whip up a project in an hour or less, click launch and then wait for the money to roll in minute by minute.
That’s just not going to happen. Proper crowdfunding planning includes planning to spend time on your campaign every single day.
Make sure you clear at LEAST an hour per day from your schedule to work on your campaign by answering questions, replying to comments, posting updates, reaching out to bloggers and generally networking with people, reporters and places that would be interesting in your offering. If you’re not planning on devoting AT LEAST one hour per day to your project then you’re not planning a crowdfunding campaign that can succeed.
5 Crowdfunding Promotion is like showering; Do it every day
This ties into the “build it and they will come” mentality I urged you to ditch at the top of this article. Just because your crowdfunding campaign is out there doesn’t mean anyone is going to see it. For your project to get noticed – and attract backers – you need to apply a concerted, multi-pronged effort when it comes to crowdfunding promotion.
First and foremost – you need to hire a solid crowdfunding public relations firm to help get the word out there about your campaign in the most efficient, economical method possible. Your crowdfunding project is dead-on-arrival if professional promotion is not figured into your crowdfunding planning. Luckily, you already found Crowdfund Buzz so all you need to do is engage us on your project far ahead of your launch. How far ahead? At least a month? We’ll help you with lots of pre-funding publicity and promotion and set the stage.
Second – DO NOT SPEND MONEY ON CROWDFUNDING ADVERTISING. You will be wasting lots and lots of money. I warn people about this all the time and time and time again I see crowdfunders burn through hundreds to thousands of dollars just to have their campaign fail regardless. Review a few of the previous articles on this crowdfunding blog and you’ll know exactly why you shouldn’t spend a penny on crowdfunding advertising.
Third – Do your own outreach every day. Don’t count on your public relations firm to do all of the work for you. Do your own legwork. Reach out to bloggers, reporters, newspapers , websites, etc. and stay in tune with what we, as your crowdfunding PR firm, is doing for you so there is no overlap of effort or energy.