3 Essential Marketing Techniques for Crowdfunding Success

by Alex Feldman

June 3, 2017

Crowdfunding is one of the most powerful money-raising tools to have appeared in the last few years. It integrates aspects of social media and marketing to provide a new platform for new entrepreneurs looking for funding. Not only does it take some of the power from banks, but it also allows would-be customers to have more ownership over the final product. In this article, we’re going to give you three essential tactics to get the most out of your crowdfunding efforts.

Manage Your Reputation

If there’s one area where traditional and crowdfunding meet, it’s when it comes to funding. In both cases, a solid reputation is essential in order to be successful. When you look at some of the most recent examples of successful crowdfunding campaigns, you’ll notice how most of them have someone with lots of experience at the center of their campaign. And this is not by coincidence. People are more likely to give to someone who has prior experience and a proven track record. Experience builds social proof, which is one of the primary selling points of any online campaign, let alone crowdfunding. If you lack the experience, try to partner with someone who does.

Create an Idea that is Shareable

Social media is one of the major vectors of most crowdfunding campaigns. For a project to be truly shareable, it has to be truly revolutionary and answer a real need in the market. It also has to be easily summarized in one sentence. Take Lockitron, for instance, which was funded thanks to a major crowdfunding campaign. Their tag line was “Keyless entry using your phone”. It’s short, sweet, and completely sums up the product in a few words.

Use the Power of Video

Creating a powerful video is essential if you want your campaign to be successful on a site like Kickstarter, for instance. The anatomy of a good video is as follows: focus on the product first, introduce your campaign, and then add a clear call to action. Make sure that the product is the star of the video and keep it under three minutes.

You can also use video ads to spearhead your campaign on Facebook and YouTube. YouTube ads are particularly powerful when it comes to crowdfunding campaigns. However, they have to be done professionally and the campaign has to be properly coordinated in order to get results without going overboard with the budget. If you lack the expertise, try to partner with a reputable online marketing agency like Single Grain to help you kick start your campaign.

While crowdfunding isn’t for everyone, it is still possible to fund a viable project as long as you do it the right. It is essential that you stay realistic about your goals. Make sure you have a product that really fills a need in the market. If you lack expertise, try to find an authority in the field to back you up. Make your idea as shareable as possible and don’t be afraid to invest a few bucks in a professional campaign to take it to the next level.