Since crowdfunding has become the most popular option for startups to raise capital, numerous campaigns today are competing on popular crowdfunding platforms like Indiegogo and Kickstarter. That means if you are planning to seek funds for your small business or startup via a crowdfunding platform, it’s not going to be something easy for you to accomplish. There is a lot of work to do that will demand a lot of time and effective strategies for you to realize your goals. You have to think about the strategies that can give your project enough exposure to the right audience that cares about it. That’s where PR and marketing knowledge and experience comes in to help your crowdfunding project. If you have not heard us before, check the First Wave PR Reviews Post, and you can see that we have been around for quite a while and have helped TONS of businesses beat their goals.
Many people rush to launch their crowdfunding campaign on Indiegogo or Kickstarter thinking that’s where everything starts and ends. That may have worked for some campaigns before but can’t work anymore because of the high level of competition currently. A crowdfunding campaign on most platforms runs for only about 45 days, a period over which you can’t do enough PR outreach and marketing promotions. A pre-launch allows you to start a lot of activities a few months before the actual crowdfunding campaign launch. That’s necessary in order to do research, outreach and community building. Those are critical pre-launch stages that give you an opportunity to establish strong presence and following from properly targeting audience. It is the best way to build enough momentum that will finally make the actual campaign launch make a greater impact.
With a crowdfunding campaign, you should aim at achieving more than just raising money. Research is one of the most important activities you should do even if you have done that before. There is need to re-examine your overall business strategy afresh during a crowdfunding pre-launch. That’s because you are going to have to tell people what your business is all about and why they should fund you. Doing this may help you discover some weaknesses in your business strategy or some demand assumptions you have always made incorrectly. It will be important to talk to crowdfunders of campaigns similar to yours that might have failed before. Try to find out how many backers the got and why they could have failed in hitting their funding goals. Most importantly, crowdfunding research should help you to understand your target market better than before. You should figure out the difference between the audience for your product and that for the crowdfunding campaign itself. Get to know where the audience hangs out and what they like doing there.
Crowdfunding outreach & community building
At this crowdfunding pre-launch stage, you will need to use very effective PR and marketing strategies in order to connect with your target audience. You will employ PR strategies in order to get enough publicity for your campaign and increase audience reach. Find out how to reach out to media news reporters, bloggers, influencers and other relevant contacts that can widely spread word about your project. That means you should already have the information they need to know about your crowdfunding project. It’s a great idea to have a website or blog for your campaign where you can provide all the necessary information and regular updates. That will also help more people to discover your project through Google search once your blog starts to get some rankings. Your blog will make it easier for you to have more content that you can share on social media where you must also be making a lot of efforts to strengthen your presence. Use relevant social media platforms to engage with your followers. If you manage to build a community around your crowdfunding project, you will have great momentum to maintain with even more intensive PR, promotions, advertising and other relevant marketing strategies. All that can significantly increase chances of achieving your funding goals.