Launching a successful crowdfunding campaign is one of the most effective digital marketing tools e-commerce business owners can use to connect with prospective new customers. By targeting your marketing efforts, you can increase the likelihood that these new leads will convert into sales. So what are some of the best ways to launch a successful crowdfunding campaign?
Here are the key points you need to know in order to make it happen:
- Plan your crowdfunding campaign well in advance. Give yourself enough time to build a strong foundation for success.
- Do your research on which crowdfunding platform will work best for your product and target audience.
- Create a video explaining your product and its benefits in detail.
- Build a social media following well before launch day, and promote your campaign heavily once it goes live.
- Make sure your rewards are enticing enough to motivate potential backers!
CROWDFUNDING IS ABOUT MORE THAN RAISING MONEY
Launching a successful crowdfunding campaign for your e-commerce business is about more than just raising money.
Here are four tips to remember:
- Focus on building excitement for something new and different – this creates a sense of investment and a feeling of ownership in your new customers, which easily translates to product loyalty.
- Instead of just focusing on how much money you need to raise, focus on emotionally engaging your prospective customers.
- Make sure your campaign video is high quality and catches people’s attention – you want them to feel so excited about your new business or product that they not only contribute to your crowdfunding campaign, but also share it on social media.
- Beat your fundraising goal by emphasizing the value of what you’re offering backers – they should feel like they’re getting an innovative product they can’t get anywhere else.
By following these tips, you can launch a successful crowdfunding campaign that will not only raise money for your e-commerce business, but also help build excitement and loyalty for your new brand.
FIRST THINGS FIRST: DESIGN A THOUGHTFUL CAMPAIGN
Crowdfunding is a great way to raise money for your business, but it takes more than just putting up a campaign and hoping for the best. You need to take time to design a thoughtful campaign that will resonate with potential customers. This means having a cohesive brand and carefully planning your marketing strategy.
It's also important to make sure you have a product or service that people actually want. Before you launch your crowdfunding campaign, do your research and scope out the competition. See what other businesses in your niche are doing and what sort of incentives they're offering to potential backers.
Once you've got a good handle on your campaign strategy, it's time to start reaching out to potential customers. Social media is a great way to get the word out about your crowdfunding campaign. Use platforms like Twitter, Facebook, and Instagram to build up interest and generate buzz.
You should also consider email marketing, especially if you have an existing customer base. Send out personalized emails letting people know about your campaign and why they should support it. If you can offer exclusive rewards or early bird pricing, be sure to mention that in your email copy.
Finally, don't forget to reach out to influencers in your industry. These are people with large followings who can help promote your campaign to their
With careful planning and execution, your crowdfunding campaign can be a success.
YOU MUST PREPARE FOR OBSTACLES
Launching a crowdfunding campaign is not an easy task. In fact, the majority of campaigns fail to reach their fundraising goal. However, there are ways to increase your chances of success.
One important thing to remember is that obstacles are common in crowdfunding. Make sure you are prepared for them by knowing what they are. Some of the most common obstacles include lack of preparation, lack of a clear goal, and not enough marketing efforts.
By being aware of these obstacles and preparing for them, you can give your campaign the best chance possible for success:
- Lack of an audience: You should already be working on building brand recognition before you launch your campaign. This looks a little different for each e-commerce business, but at a minimum you should have a killer website, an email marketing list that regularly sends your prospective customers valuable and engaging content, and active social media channels (whichever apply best for your ideal customer).
- Lack of a prototype & inventory: While you may be hoping to hold off on production until you raise funds, the truth is you will need to pay for a prototype and market with it, and ideally a small amount of inventory ahead of time. This way you can send sample products to journalists, marketers in your niche, and anyone else who seems interested in promoting your product and helping you to get the word out.
- Crowdfunding campaign failure rate: It’s important to realize that the majority of crowdfunding campaigns fail, with less than a third realizing their fundraising goal. This news isn’t intended to discourage you, but rather to emphasize how important it is to know the common pitfalls and obstacles in crowdfunding in order to avoid them. By planning ahead for obstacles, you will seriously increase your chances of launching a successful campaign.
UTILIZE ALL AVAILABLE RESOURCES
Launching a successful crowdfunding campaign for your e-commerce business takes a lot of hard work and preparation. There are a number of resources available to help you create a campaign that will be successful, including software like Backerkit to help with post-campaign fulfillment, social media scheduling tools like Buffer or Hootsuite, and the free Jumpstart theme from Shopify.
However, it's important to remember that not every business is suited for crowdfunding and it may not be the right marketing method for you. If you're thoughtful and deliberate in your preparations, though, a crowdfunding campaign can be a great way to invigorate your brand and drive new business.
Now that you understand the most common obstacles and how to prepare for them, it's time to get started on your own crowdfunding campaign. Utilize all of the resources available to you, such as software like Backerkit and social media scheduling tools. And don't forget to reach out to influencers in your industry to help promote your product. With a little hard work and preparation, you can launch a successful crowdfunding campaign that will drive new business for your e-commerce store.
Are you ready?