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Crowdfunding needs to be seen as a marketing campaign.

  • TommyCarey Level X3
    • 11

    Write the reason you're deleting this FAQ

    Crowdfunding needs to be seen as a marketing campaign.

    When you begin your crowdfunding journey you will quickly realize that you don't get paid right away and you will actually need to do some work prior to getting a check or transfer to your business or personal account.  You will need to set up the right campaign in order to actually get the people to back you up on your journey, which isn't the easiest thing to do because you need to spend a few bucks on a professional video showing your product in use or what you plan to do with whatever it is you're needing funding for.

    Crowdfunding is an incentive-based marketing method because you're giving away your services or products usually at a discounted price compared to what you're going to sell it for after you get the funding, which means people are paying up front for a discounted item.  The more someone puts into their donations, the more they should be getting out of the product or service they are purchasing.  A good example of this is a Kickstarter campaign that had an option to pay $10,000 and they would get every variation of the product, the company would fly them out to their headquarters for a tour as well as a VIP treatment.  Another campaign I saw was a production company who was gathering funds to get a movie done, and they had a $15,000 option for anyone to select and fund.  This option actually got the backer in the movie as an extra and added to the credits, as well as various other incentives Crowdfunding needs to be seen as a marketing campaign.  They essentially bought their way into the movie, which I don't think was a massive hit, but they were still there and could now put it on their resume lol Crowdfunding needs to be seen as a marketing campaign.

    Start your marketing from day 1
    When you get the idea of starting a Kickstarter campaign you need to realize that every second of a video you post, every word you publish in your pitch, and basically everything that is associated with your campaign needs to have marketing in mind.  You need to avoid getting overly pitchy in your campaigns because no one will back you if that happens, you need to just do common marketing tactics in order to boost your backers.

    • You need a high quality video
    • You need to bring on a copywriter for your content
    • You need high quality images
    • You need a well thought up structure for your different levels of investment

    If you budge on any of the above, you will fail guaranteed.  You can't budge on quality when it comes to obtaining funds from complete strangers.  If you have a crummy video, with some random images that are obviously stolen from Google, and your content is a paragraph of broken English... You won't get a single backer.

    Bring on a professional
    If you don't know what you're doing, you will definitely need to bring on a professional who has had successful campaigns in the past and can help you with what needs to be done.  This isn't always a necessity if you have plenty of time to do your own research on how to set up a successful campaign, but if you're too successful and don't have time to do this yourself, bring on someone who does!

    They MUST be able to prove they've had successful campaigns, and this means they need to give you emails and recommendations from successful campaigns listed on Kickstarter or any other platform that publicly shows the successful campaigns of the past.  Simply saying "Here is a list of my successful campaigns" isn't good enough.  If they don't provide proof of success, they don't deserve your money!

    You might not be successful on your first try, but you shouldn't stop
    Not everyone will knock it out of the park on their first attempt to gain funding, but that doesn't mean you should just stop in your tracks and mark it up as a loss.  You need to figure out why your campaign went wrong, fix it, then relaunch the next month after your failure gets deindexed lol Crowdfunding needs to be seen as a marketing campaign.

    Keep going, someone out there will likely fund you, so never stop doing your marketing Crowdfunding needs to be seen as a marketing campaign.


    In conclusion
    Crowdfunding isn't the easiest thing to do, but it can be done successfully if you know what you're doing.  You won't be successful if you just wing it, you need to do plenty of research before you'll have a successful campaign and you can't cut corners on quality.  If you pay someone less simply because they were the cheapest person to contact you, you'll likely fail.  If you don't know what you're doing, bring on someone who does and have them help you with your campaign, this will only benefit you in the long run and save you much more money than you could imagine Crowdfunding needs to be seen as a marketing campaign.


    Remember to follow me!
    https://www.seoclerks.com/user/TommyCarey


    Thanks!

    Tommy Carey

    #Crowdfunding Marketing & Monetization
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    kgord

    kgord

    Thanks for the weatlth of knowledge on crowdfunding, I had no idea it actually had that much to it. It is good to know all the inds and outs of crowdfunding. It can be very helpful to know all these details.
    8 years ago

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    TommyCarey

    TommyCarey

    A lot of people think "If I have a good product or service I'll get the funding I need to be successful" but it simply doesn't work like that :'(

    You have to know what you're doing, get in front of the right people, partner with the right businesses, and bring on a professional that can hold your hand through everything if you want to be successful on your first try Crowdfunding needs to be seen as a marketing campaign.
    8 years ago

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    vinaya

    vinaya

    I do not have any experience with crowfunding. I have tied to finance my projects through crowfunding and I have tried many crowfunding programs, however, it looks like most of the well known crowdfunding sites are not accepting users from my location. If you are crowfunding, you will not only get money for your project but also good exposure. People might visit your website even if they are not donating.
    8 years ago

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    TommyCarey

    TommyCarey

    Yeah, that's one of the downsides of some of these bigger crowdfunding platforms, they don't accept people from certain areas of the world Crowdfunding needs to be seen as a marketing campaign. I'm exactly sure why they do this, but it's likely due to some sort of laws in place set by your government that doesn't allow it.

    You could always go the investor route and see if you can get funding that way. There are plenty of places that list venture capitalists and angel investors, all you'll have to do is take that extra step and find them on platforms like LinkedIn or through their own websites, then contact them and give a simple pitch along with multiple ways to contact you. If that doesn't work, you can always go to the bank and see if you can get a business line of credit in order to fund your next idea, but you'll have to pay this back quicker than you would an investor. You could get a personal credit line as well, which won't be as large as a business line of credit, but it should still be enough to help you out with a few steps or maybe even your entire idea.

    Crowdfunding is definitely a great route to take because you're raising funds solely from products being purchased before they're even made. These are essentially pre-orders due to your hype behind the product or service that people are clamoring to get. You could always partner up with someone in a country that is allowed to access these crowdfunding platforms and have them post your idea, but that would mean you're now giving away a piece of your company in order to make some sales. It could be worth it, or you could simply be giving away a part of your company with no results from the crowdfunding platform. You could always say they need to perform the right actions and be active in order to keep their part of the company, but that's a tricky thing to monitor.
    8 years ago

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    Corzhens

    Corzhens

    Some crowd funding sites have prejudice on some countries but maybe it is not about the users but more for the government policies. I know that Paypal is not available in all countries and when a crowd funding site uses Paypal for its remittance method then I guess it will not be available to such countries. But crowd funding is getting to be popular now and that is a good development for project managers.
    7 years ago

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    amelia88

    amelia88

    I haven't yet tried this route yet for funding projects of mine - but it was mainly because I didn't really know where to start. This piece is really helpful for those of us that want to approach the crowdfunding side of things but might be apprehensive about diving in.
    8 years ago

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    treecko142

    treecko142

    I agree that crowdfunding should be utilized more by business owners and be incorporated as part of a marketing campaign, but one problem I see is that most sites require you to have a good resume which includes educational background and previous works just to be 'verified,' which not everyone with a business has. And even then, you need to have a good track record and previous works so that people would want to fund your cause.
    8 years ago

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    Corzhens

    Corzhens

    If I will have a crowdfunding campaign perhaps I will just take in a professional and let him handle the marketing. To be honest, I find crowdfunding campaign much more difficult than marketing a product. As our college professor in salesmanship said, it is hard to sell a refrigerator to an Eskimo but I think that is far easier then getting crowdfunding investors. But with a professional, particularly one with experience in such a campaign, the task will be easier.
    8 years ago

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    jaymish2

    jaymish2

    I agree with you. When you are crowdfunding you often have an international platform. You have people from all walks of life examining your product. You have the platform to really sell your platform to the world. I would argue that if you can convince people to invest in your business, then it is a sign that you have a good product. If you have a good product then your funders will also spread the word about it to their friends and family. I think this is a perfect marketing campaign.
    8 years ago

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    stbrians

    stbrians

    This is a new venture to me. I need toblto learn more on the subject. SEOclerks has bee a great resource to me. I will also like to comment you for your updates. They have really educated me @TommyCarey
    7 years ago

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    jpk0007

    jpk0007

    Well, I don't know much about crowdfunding and I have never done such a sort of work ever. I think if I get involved in a crowdfunding project I will have to take professional help at least in the beginning. It is better to take help of someone if you are not confident about doing something. Everything in Crowdsourcing depends on the video through which you are approaching your prospective clients. If you falter on the quality and content of the video then you won't be able to attract even a single client for your project.
    7 years ago

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