The Key to Crowd funding: Part Two
Most entrepreneurs look to crowd funding sites like Kickstarter to try to fund their dreams. However, most don't realize the work it takes to actually lead a successful campaign. These folks believe that if they come up with a cool idea and post it online that people will automatically gravitate to it.
Crowdfunding campaigns are a lot of work, though. With the increasing competition on crowd funding sites the amount of effort a project creator must put in to succeed is constantly increasing. Therefore, we're going to post what we have learned from launching our successful crowd funding campaign for Cul-De-Sac Conquest, which raised over $20,000.
This three part series will include pre, during and post-Kickstarter information.
If you have yet to read what to do pre-Kickstarter a link to the article is here.
During-Kickstarter Tips and Tricks
- Send Press Releases to Industry Bloggers and Journalists
Before your Kickstarter you reached out to bloggers and journalists and created a press release to send out during your campaign. Now is the time to send that release out.
- Start posting on Social Media
Be careful not to post photo's you shouldn't though. If your page comes off too much like an advertisement the chances are people will stop following your content and will likely not support your crowd funding anyways. Post about your progress, and create value and engagement among your followers.
- Post frequent Backer Updates
You want your backers to feel like they are in your inner circle - they need to know as much about your project as you do. Share as much information with them as possible to keep them excited about the project as possible.
Your backers want to see mail from you.
- Answer questions that your backers ask
Your backers will surely have questions even if you did an excellent job posting a solid Q&A section with every question that you thought would come up. It is going to be crucial to answer these as promptly as you possibly can.
- Start generating interest in stretch goals
Get your backers to want to pledge more or engage with their friends and family to generate more interest in your campaign. The more unique backers you can receive and the more money pledged early in the campaign the better. Make the first few days all about getting pledges, which means also working with backers to answer questions.
If you're part of a small team going to an industry event might not be best if you don't have the chance to reply and talk to people online during the event.
- Run contests for t-shirts, a copy of the product, etc.
This one might be debatable, but if you're able to collect data and re-market to these people later than it would definitely be beneficial. For a cheaper product, like a game, having a contest to give away one or two will not cost much, but can get your campaign page seen by hundreds of more people, if done right.
For Cul-De-Sac there was a contest graphic and post that could be shared on Facebook. Anyone that shared it and tagged their friends on the original post were entered in the contest. It created a lot of engagement on our Facebook page, which was good.
- Don't stress too much, the middle weeks are the worst
Most campaigns see a lull in the middle few weeks. Work at trying to get people to pledge and get the campaign popular again, continue reaching out to media, but don't fret as it happens to everyone. Seriously, you should see the graph for the middle weeks of Cul-De-Sac.
If all goes well you'll get a little status update that says:
In the next blog post we'll discuss what to do Post-Kickstarter.
Did you find this content useful? Let us know what you think. If people want to learn more about Kickstarter we can also post a few things we learned about the Kickstarter platform that first time creators should seek to understand.
Thanks for reading!
Until next time, signing off.