Our NEXT Crowdfunding Launch Lab starts Monday 4th May 2020

The Secret to Crowdfunding

WHAT IS THE SECRET?

The secret to crowdfunding is in the name - You need a crowd to go crowdfunding.

This is the most common question I get about crowdfunding - ‘why is no one backing my crowdfunding campaign?’

Over the years I have realised that having a responsive engaged crowd before you go crowdfunding is key to reaching your campaign target.

MISCONCEPTION

There seems to be a misconception that with lots of Social Media followers I should be OK to run a crowdfunding campaign.

In my experience that is simply not the case.

Fundamentally people do not like being sold to via Social Media. You do need to have and work with social media as this is key to maintaining awareness and engagement about what you are doing. Social Media is also great for customer service.

The bigger question is how active are you on social media and as a result how engaged are your followers.

What should you be doing with social media?

In my experience one of the activities you can use social media for is to drive traffic to a landing page to capture an email address.

Now why is that the case? Email has shown in various studies over the years to convert more people into backers than all of social media combined many times over. That is why you should be capturing email addresses before you go crowdfunding.

EMAIL IS KEY

In almost every discussion I have had with project creators over the years it is always email that wins out over any other tool or tactic that has converted potential supporters into backers.

So if email is key then you should make sure that you are setup to capture email and have a robust email marketing service to help you do it.

Two suggested email services you can go for is Mailchimp (allows you up to 2000 subscribers at no cost) or Convertkit (paid) to run your broadcast and sequence emails.

Once you have either run place you will then need to consider seeing up a landing page - several in fact to capture email addresses.

LANDING PAGES


Examples of landing pages you can setup can include the following:

1. One landing page could ask people to part with their email address to be notified when the crowdfunding campaign will launch.

2. Another landing page could offer a lead magnet - something that your reader may want - that would require them to part with their email address in order to get what you have on offer.

3. Yet a further idea may be to launch a competition where your reader can win a prize and would have to part with their email address to participate.

So how do we setup landing pages. Once again there are no cost and paid options.

If you have chosen Mailchimp then they allow you to create landing pages linked directly to your email list. Launch Rock could be another service you might want to consider.

Many website page builders now offer you the ability to customise landing page templates so look around. You might already have the ability to create landing pages with a service you already have.

LEAD MAGNETS

People do not part with their email addresses lightly these days.

There needs to be an incentive for them to do so. Normally a lead magnet will provide a solution to a problem and creating a pdf that can be emailed to someone is often a good place to start.

Here is an idea you can follow to get the process going:

Step 1 - offer something of value
Step 2 - promote link via Social Media
Step 3 - ask for name and email
Step 4 - say thank you + lead magnet on its way
Step 5 - offer some more value

There are many lead magnets ideas you can use. Check out the list below:

Competitions
List of Resources
Quick Start Guide
Video answer to a pressing question
Checklists
Free Mini e-Course
Chapters in your book
MP3 downloads
Worksheets
E-books / White Paper
Live Training / Webinar Registration
Recorded Webinar replays
Coupon codes
Quiz with results
Templates
Transcriptions of your content/video/podcasts etc
Free trials
Bonus audio content
Sneak peeks into your product
Exclusive content
Cheat sheets
Listicles - List of ideas, tips, wisdom etc

Essentially you are providing an immediate solution that can be emailed the moment they sign up 🙂

SUMMARY

In conclusion you will hopefully have noted that EMAIL is key to your success online. 

Start today by selecting a good email service provider if you do not have one already and start collecting emails as soon as you can.

In future blog posts I will provide a step for step strategy on the process of how you should be using social media to collect email addresses.

 

Written by Anthony Lovell de Souza

Crowdfunding Specialist

Check out our PDF on essential tools that will help you run a successful crowdfunding campaign!

31 page PDF - Immediate download!

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