Launching a crowdfunding campaign is hard, launching a successful one is even harder. What is the difference between a fortunate crowdfunding launch and a failure? Our answer is – having a pre-launch checklist! In today’s article, we are going to talk about how crowdfunding works and define the right steps on your way to a successful campaign.
Before even thinking about the release of new product, you have to come up with a detailed action plan, otherwise high chances your potentially great project would turn into a disaster in months, if not weeks. All the crowdfunding campaigns with positive outcomes have a few things in common: they are unique, useful, catchy, and well-presented. Find the ultimate pre-launch cheatsheet for you to make sure your possible crowdfunding campaign is on point before potential backers would see it.
1 – Project title and slogan. This is a very important aspect of the whole campaign, as obviously, people will associate you and your startup with how you would call your first release. Brainstorm together with your team to come up with an extraordinary name for your product. It could reflect the key feature of it or be enigmatic and intriguing – completely up to you. Just avoid copying the names of market giants, nobody would want to use a copy if there’s an authentic product available. Also, add a short yet understandable slogan underneath your title, that would grab public attention and give a preview of your product’s functionality. Do not use words like “best”, “top”, “outstanding”, etc. – it’s up to users decide whether the product is good or not，
2 – Informative description. To write an interesting description of a thing that does not exist yet is a tough task to manage. Nevertheless, if you can’t tell people what you want to create and why they need it, it’s too early for you to start a campaign. We suggest keeping it simple — do not try to be the second Hemingway when talking about your potential product, just be sincere and do not exaggerate. Also, avoid working on the description for crowdfunding on your own, as that’s a sure recipe for disaster. Instead, insert the draft you’ve created on websites similar to ones that provide different sort of assignment help and look at the result. This service will suggest possible improvements.
3 – Visual elements. Illustrations attached to your product description are very important as well. Your potential backers and users have to get a clear image of what they are going to invest their money in. Use pictures or sketches with positive scenarios captured on them to provoke good associations with your brand in the audience. Double-check that all the pictures are taken in the same style and quality, so that would go along well. Add GIFs and animations if needed.
4 – Video presentation. Did you know that 59% of people admit they would rather watch a video than read a text? There is nothing to be surprised about, as video has always been and remains the most engaging kind of digital media content. Equip your crowdfunding campaign with a high-quality video about you and your startup idea. Trust us, that way you’ll reach a way bigger audience than with a textual post. Make sure the video is filmed professionally, high resolution, and the result is pleasant to watch. Consider hiring a professional videography team that has all the right equipment (camera, lights, mics, etc.), advice you on background, and will do the final cut and edits to the video before publishing it.
5 – Start pledge reward. It might seem tiny and unimportant initially, but even the $1 pledge reward can boost your budget drastically. The only things to keep in mind here are: a) the ask for pledge reward must be backed with some present valuable offer so that users would be interested in it; b) you have to ask for a reasonable amount of money. To receive a small sum from a big number of people is a lot more likely than getting a big check from a single person.
6 – Website. We know you already have a crowdfunding page of your project, but don’t you think it’s not enough? We do, and so does the public. To convince your potential backers that your startup has come to market with serious intentions, you have to demonstrate your online presence through the official website of your company. Start with a simple landing page, and do not let the technical aspect scare you. Nowadays, such platforms as Tilda, WordPress, and Wix allow even non-tech people to create quality sites.
7 – Content Marketing. Alongside your own website, reach your potential audience on social media and websites or blogs related to your business. Brands that run their own pages on Facebook, Instagram, Twitter, Pinterest, and other more narrowly targeted websites (Clutch for IT companies, LinkedIn for business, Behance for designers, etc.) achieve higher brand awareness and customer loyalty.
8 – Promotion. This crucial aspect we recommend to delegate to a professional team. Why? First and foremost, because not being a professional copywriter in the field of marketing, it’s unlikely you have a network of professional contacts needed to promote a brand successfully. Sometimes, such connections can be replaced with a big sum of money, but let’s face it — crowdfunding initiators rarely can splurge on such things.
9 – Word-of-mouth strategy. If your family, colleagues, and friends have not yet started telling everyone they know about your project, it’s high time to do it! Despite all the groundbreaking inventions in the field of information technology, there’s still nothing more effective than a good old recommendation from someone you know in real life.
This easy-to-follow flow cheat sheet clearly demonstrates the essence crowdfunding — you come up with the valuable idea, and people who appreciate it give you money for its realization. We hope our pre-launch checklist will help you in realizing a successful campaign resulting in an industry-changing product. The only recommendation we advise you to follow no matter what is believing in your own idea and back this sincere belief with flexibility, constantly growing expertise, and an open mind when it comes to innovation.
Susan Wallace is a digital marketing specialist with more than four years of professional experience in the field of Informational Technology. Her interest in crowdfunding started a few years ago when she decided to take part in a crowdfunding campaign for a startup in the area of healthcare. Susan’s contribution added to the positive outcomes of the project, so she decided to go for a career change from a Marketing Director to a Public Relations Consultant in the digital media sphere.