You have launched your crowdfunding campaign--way to go--now you need to drive the traffic to fund it. There are so many ways to get the right people in front of your project but it does take work. You will need a specific strategy for reaching your desired target market.
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Every crowdfunding campaign should plan for at least one stretch goal. For obvious reasons it infuses the campaign with more cash. This enables better and higher performance for the company, cause, or product on the outset of the campaign. Stretch goals also provide a sense of accomplishment and purpose as it signals a close of the base goal and directs attention to the extra features, tweaks, and/or improvements to that base. But how does one go about selecting a proper stretch goal?
I will walk you through the stretch goal process of my crowdfunding campaign for a charity in Vietnam.
I want to explain how I was able to raise 33% of my crowdfunding goal within its first 24 hours. I will focus on three areas: Key Connectors, team network, and pre-campaign pledges
If you have not read my previous post on Key Connectors, please do, so that you know what they are. In this section I will merely explain how I utilized them.
40 days prior to the launch of my campaign I sent a personalized email to the few people in my network that I felt could be a Key Connector. It was on a Sunday, and I asked them to confirm or decline within one week, which would inform me of who was on board, with just over one month to go before launch.
In the email I included several key points:
Think of a person in your network that seemingly knows everyone. You know the type, the host of the get-togethers, the one that remembers everyone's name from high school--and what they are currently up to, the neighbor that sends Christmas cards to 300 friends, family members and acquaintances, or the coworker who always drops a name for each problem, concern or comment that you make. These are Key Connectors.
Key Connectors are gregarious people who thrive on social interaction. They remember names and they are ever-seeking to extend their influence. Perhaps you are familiar with Malcom Gladwell's definition of a Connector, as found in his book The Tipping Point. In this book, he explores how epidemics are spread through word of mouth. Key Connectors are wonderful for word of mouth and even more so for crowdfunding.
While running my crowdfunding campaign on Indiegogo, I attributed much of its success to my Key Connectors.
Before you launch your crowdfunding campaign you need a presence, a network and a core team. I am currently running a crowdfunding campaign on Indiegogo and it is eye-opening--read about it here. I have been blogging about crowdfunding for over a year-and-a-half now and have reviewed many, many campaigns and spoken with the entrepreneurs running them. The three things that I am about to share with you are crucial and need to be established before you launch your crowdfunding campaign.
Crowdfunding is an online tool. If you do not have a website then you should not be running a crowdfunding campaign. This is not me being harsh, rather it is me stopping you from making a short-sighted decision. Sure, crowdfunding is cool and sexy and we are seeing more and more million dollar ideas being backed by the masses. However, these uber-successful campaigns are not happenstance. They are calculated, thorough, and have an existing online identity.
Today's POP will be different than any of my previous write ups. It will be geared towards my experience from this past Thursday, while I attended the Indiegogo Lab out in San Francisco to learn more about their platform. With a full crowd in attendance, members of the Indiegogo team shared with us insights on how to run a successful campaign on their site. To set the scene for you, the majority of the audience was new crowdfunding project owners, looking to launch their first project, while a few in the crowd had previously managed other campaigns. I've divided up the notes into three major sections in order to follow the same pattern that was presented to us.