Crowdfunding: 6 Tips for Kickstarter Crowdfunding Success

June 19, 2014 | Comments (0) | | Category: Marketing with Video

Crowdfunding: 6 Tips for Kickstarter Crowdfunding Success

Crowdfunding: 6 Tips for Kickstarter Crowdfunding Success

If you missed the June 17 Kickstarter event, “Crowdfunding Success,” at the Denver Film Society, here are a few crowdfunding tips & take-aways:

1 – Crowdfunding isn’t just for raising money.  It’s for gaining an audience.  An audience is key no matter what you’re creating:  a movie, a non-profit, the latest software, a new clothing line.  If Content is King in our social-media driven business world, then  Audience is Everything.  Without an Audience, all the Content in the world won’t even make a ripple.  Crowdfunding is a great way to start building your unique community of stakeholders, fans, associates, customers, referrers, supporters, media, etc.

2 – Social media is the lifeblood of crowd funding.

3 – Start building your online following well before you launch your crowd funding campaign.  Ideally, the majority of your backers will be aware that your crowdfunding campaign is coming BEFORE the clock starts running down on your campaign.  Build excitement during that pre-launch phase.

4 – Stay engaged with your crowd funding backers long after your crowd funding campaign has finished.  Your campaign will come and go quickly; your project has a long life ahead of it.  Keep updating those who made it possible, and always think about Line Extension.  Even if you don’t have a new project in mind today, assume you will in the future.  You’ve already done the heavy lifting to build an audience.  Don’t take that kind of momentum for granted.

Victoria Rogers of Kickstarter

Kickstarter Panel w/Alison Greenberg, Britta Erickson, Robin Bond, Yuri Chicovsky, Karen Cruz and Victoria Rogers of Kickstarter

5 – Everyone HAS TO have a crowd funding video when they launch their crowd funding.  Use it to tell your story and put a very human face to your project.  Having that personal touch trumps high-quality video production.

6 – When it comes to crowd funding, know your audience.  Hopefully you will know your target market BEFORE you starting creating your new software, your movie, your non-profit.  Your target consumer for your product will likely be the same folks who are going to pitch in their $25 to help make your product come to fruition.  Knowing the demographics of your audience – age, gender, income level, lifestyle, education, etc. – can increase your crowdfunding success in several ways:

– Setting the right funding goal:  If you’re unrealistic about the amount of money you’re likely to raise, those with limited income will be reluctant to back something that probably won’t reach its goal, and therefore won’t make it to market. 

– Establishing appropriate pledge levels

– Offering rewards that your backers want 

– Improving the thing you are creating by getting valuable feedback from the target market BEFORE you go into mass distribution

Happy fundraising!  And please give Robin Bond Media a shout if we can help you with Crowdfunding Consulting or Crowdfunding Video Production

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Good story. Well told.
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