Your Crowdfunding Strategy Matters More Than You Know

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How can a crowdfunding campaign to create a better potato salad make $55k while campaigns to purchase a new van for a charitable organization don’t even raise 5% of the their goal? It always comes down to the strategy that is in place for that campaign. When time is taken to look at every aspect of a campaign before taking it live, everyone can replicate the success that a bowl of potato salad has been able to enjoy.

Here are 5 specifics lessons that your crowdfunding strategy can benefit from learning today.

1. Know Your Audience

When the potato salad campaign was live, Kickstarter blogged about the project and supported it in other ways. Why? Because it was attractive to their audience. When you take a platform live, it is important to know who your target audience happens to be so that they can support it effectively. The best crowdfunding platforms are able to bring in an audience for you, help you maximize your online space, and provide everyone with a welcoming experience.

2. Dare to be Different

There is a lot of good advice about effective crowdfunding that is on the internet today. Much of it works quite well. The only problem is that after dozens and dozens of crowdfunding campaigns that all look the same, the information just becomes background white noise to the average backer. If you can dare to be different, then you’ll be able to stand out and have your voice heard.

3. Give People a Reason to Stay with your Campaign

Anyone can put together a pretty basic video that speaks about a campaign. It might be informative. It could be well produced. The only problem is that most marketing campaigns don’t actually give people a reason to stay and support it. Value comes not just from the rewards or the pleasure of supporting a good idea. You’ve got to give people a sense of accomplishment that only comes from the building of a community. More than 7,000 people can say they support a potato salad Kickstarter campaign. It’s a special designation that has meaning. That’s what you’ve got to do.

4. Begin Before You Actually Begin

The most successful campaigns typically have supporters that are already backing it before it ever launches. In the case of the potato salad campaign, there were over 200 supporters on-board before it went to the local media. You can craft an awesome press release, but without any support, it won’t generate any interest. Work to build supporters now, then go live, to experience the best results.

5. Allow Your Rewards to be Just as Creative

Maybe you won’t say someone’s name out loud while making potato salad, but you can create some unique rewards that people are going to like. If you’re filming a movie, let someone be an extra or have a character named after them. Put avatars of people into video games that you’re making. As long as it is fun, builds community, and has a sense of urgency to it, then it will tempt people.

You can be successful with your next crowdfunding campaign, but you’ve got to stand out. Don’t be afraid to get creative. When you are, then these lessons will help increase your chances of success.