It is found that crowdfunding campaigns with regular updates raise 126% more on average than those with no updates (Source: Crowd101). Hence having an integrated promotional strategy is critical to your crowdfunding performance.
8 Promotion Tips to Smash Your Crowdfunding Target
1. Soft Launch Your Campaign
Soft-launching your crowdfunding campaign 2 to 3 weeks before the official launch of your project creates the best of both worlds for your audience and yourself. A soft-launch raises public awareness towards your business and provides a long stretch for you to blueprint and achieve a more accurate audience targeting. Having your supportive community ready before you go public is key to your long-term success.
2. Create an Engaging Campaign Video
Regardless of the crowdfunding portals, a campaign video helps provide an introductory, prospective overview of your business ideas and potentially encourages the audience to invest.
A crowdfunding campaign can make or break your chance of success. With an average success rate of crowdfunding campaigns of 22.4%, campaigns with a pitch video raises are found to raise 4 times more funds than those without (Source: Indiegogo).
3. Get Free Press Coverage
Getting press coverage helps establish and grow your industry profile, spreading the words about your business. While getting media coverage can be very tricky on your marketing budget, doing a free press release is absolutely budget-friendly – so why not?
First and foremost, create a press release that outlines your business scope and gives updates on your project status. Then, you can either publish your press release directly on CrowdfundingPR (https://www.crowdfundingpr.org/) or opt for distribution sites comprising IssueWire, PR-inside.com, Newswire Today, and 1888PressRelease.com, etc.
Doing a free press release is easy and straightforward, which benefits your business from optimizing search engine marketing to increasing exposure to a larger audience via the website’s traffic.
4. Utilize the Synergy of Social Media
From Facebook, Instagram, Twitter, and LinkedIn to Reddit, social media is the all-time new black. Money doesn’t come easy, so it’s necessary to reason your business plan. Put it simply, tell your audience what to expect and why your ideas deserve to be funded.
Engaging and interactive in nature - Through social media, you can:
Create interest with daily, call-to-action posts to drive traffic to your crowdfunding website
Optimize reach with relevant and popular hashtags, targeting the right audience with valuable content. Useful hashtags can comprise: #Crowdfunding, #CrowdfundingMonday, #Kickstarter, #Indiegogo, #Startup, #Invest
Leverage community via tags to spread the word
5. Target the Right Audience with Facebook Ads
Mastering Facebook ads targeting places your business in front of the niche where your target audience is. Useful ad formats and possible ad targeting parameters comprise:
a. Lookalike Audiences
Lookalike Audience is a strategic way of reaching new people who are likely to be interested in your business as they share similarities with your existing customers.
b. Retargeting Pixel
By understanding and analyzing your audience's behaviors from the back end, Facebook Pixel (known as the Facebook Retargeting Pixel) helps measure your ad placements' effectiveness.
c. Custom Audiences
Facebook Custom Audiences is an ad targeting option that enables you to connect with your existing contacts on Facebook, targeting a specific audience segment for customer acquisition and retention.
6. Tap into the Power of Word-of-mouth Marketing
With influences come influences - fellow reviews and opinions are always more trusted than branded content.
a. Partner with Influencers
Work with opinion leaders who are influential in your business niche – they can be strong driving forces of your audience’s (investing) actions!
b. Turn Your Investors into Advocates
Offer free samples of your product/service or other rewards to appreciate your investors' supports – this not only keeps them proud and engaged, but it also functions as an effective, organic PR strategy that encourages positive advocacy for your business.
7. Develop a Value-adding Dialogue with Your Target Audience
It's essential to bridge the gap between investors and campaign creators, adding value to your business with strategic communication within online communities.
Crowdfunding has become increasingly competitive. We hope these tips help you design an outstanding promotional strategy that surpasses your competitors!