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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 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
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
Keep going, someone out there will likely fund you, so never stop doing your marketing
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
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