As more and more crowdfunding campaigns try to conquer the hearts of backers, it's useful to know the tricks behind the game. Mike Bradshaw gave a great insight in the crowdfunding art at our meetup and shared the story of SOLU, the smallest ever general purpose computer.
Set a goal
Before you start you need to know why you are launching your campaign. Do you want to get sales? Test your business model? Get publicity? Know your goal!
Plan. Do. Review
A strong crowdfunding campaign is planned from the beginning till the very end. Plan every moment of it, including the pre-activities and review time. Work according to time frame and modify if necessary!
Mike says, the majority of sales will take place in the first 24-46 hours of the campaign with another small hump at the end. Be ready to model 3 action plans for the following hours, based on the success:
- 1st plan - if everything goes great and you reach your target;
- 2nd plan - if you nearly make your target and need to decide what to do in the final hours;
- 3rd plan - if you are far enough from your target and thinking about closing down the campaign or pushing it through anyway.
No matter which action plan you execute, you work. Hard. Mike notes, doing a crowdfunding campaign is a 24/7 work for the whole duration of the campaign. No setbacks!
- social media texts;
- campaign updates;
Your campaign is the face of your product - the better the communication, the better the outcome.
Build a team
The team is important - CEO, your engineers, product developers and so on. Their presence and professional skills give credibility to your campaign. Yet, this is just one side of the story.
The rest depends on the communication you trigger on your campaign page. Remember - your backers need reassurances! The campaign is not a Q&A session - put all the information you have on the page! It turns out, the longer your page is, the better it does!
Engage with a copywriter if you don't have the skill to do the magic - you do want your page look interesting and the content thrilling! Add a graphic designer who will make the visuals matter and backers impressed!
Want more? Listen to Mike's full keynote below!
Photo credit: Sandijs Bruders