With more than 600 daily crowdfunding campaigns launched on Kickstarter and Indiegogo alone, the competition for backers is fiercer than ever before.
Especially if your campaign is on a tight marketing budget, it becomes even more crucial to maximize the impact of your efforts without wasting any resources – aka money, mullah, dough – in other words: the whole reason why you are reading this article.
The discussed strategies were chosen with the financial constraints of most crowdfunding campaigns in mind and offer real-world, affordable solutions.
There are plenty of “how to” blog posts out there that vaguely touch the surface of how to get backers, but without actually telling you what to do. This list of best-performing action items puts the focus on strategies that are proven to work in 2020’s hyper-competitive environment without requiring an unattainable budget.
Let’s take a look at the 4 winning strategies for 2020 that you can deploy immediately and that will have a profound impact on your crowdfunding campaign’s success.
The key to a successful crowdfunding campaign isn’t to re-invent the wheel – no pun intended. Success comes from analyzing and duplicating what thousands of successfully funded campaigns have been doing, automating as much as possible and focusing your time and energy on the things that really matter.
Don’t believe the marketing agency pundits who’ll try to make you believe that there is some kind of magic sauce to this and that you have to spend thousands of dollars and sign retainer agreements for their services in order to reach your funding goal.
Most of the agencies will use the same tactics that we discuss below but upcharge you many multiples. You can make your crowdfunding campaign a success without breaking the bank, using software and data-powered strategies that work.
1. Backer Directory: Reach 3.5 Million Proven Backers
As mentioned above, you don’t have to re-invent the wheel to run a successful crowdfunding campaign. All you have to do is to tap into the millions of backers out there, people who have a proven track record of backing similar campaigns like yours.
The equation is simple: The more highly targeted backers you can reach, at the lowest cost and least amount of time spent, the more pledges your campaign will receive and the more profitable your campaign will be on its way to successful funding.
Campaigns that use a data-driven approach see a 37-64% uptick in pledges simply because they are approaching crowdfunding enthusiasts who understand the process and have pledged money before.
Backer Directory, the leading database of over 3.5 million proven backers of Kickstarter and Indiegogo campaigns, can be used to filter results, laser target the ideal backer type and start a conversation with them. You can also export data for processing in other applications and save a lot of time and money compared to finding random backers on the internet.
2. Facebook: Advertise to the right Audience
With over 1.5 billion daily active users, Facebook is a treasure trove for crowdfunding campaigns with millions of backers in every category. Their most common user demographic is 35 to 34 years old which is also the age group of most active crowdfunding backers on sites like Kickstarter and Indiegogo.
The challenge is targeting the right people because without a laser-focused target audience. By simply using Facebook’s audience targeting, you’ll be burning through your ad budget like it’s going out of style, without getting any measurable results.
What to do? You can rent Facebook Audiences with over 40 million backers in 15 categories to hyper-target your Facebook ads and make them instantly profitable.
3. Press Release: Create a Media Splash
Mainstream media is inundated with crowdfunding stories and in today’s ruthless landscape, you have to pull out all the stops in order to spread the word and get as much earned exposure as possible.
A professionally written and distributed crowdfunding press release is part of a successful crowdfunding marketing mix and will amplify your campaign’s credibility and reach outside of your primary and secondary connections.
The best thing is that this is a completely hands-free process for you. The Press Release Service editors have written and distributed thousands of crowdfunding press releases and the skilled writers have years of experience in looking at a campaign and putting together an engaging, compliant press release that will be distributed to hundreds of news outlets.
4. Custom Media Lists: Hyper-Target Bloggers and Journalists
While the Crowdfunding Press Release Service discussed above is a “firehose” approach in the sense that the goal is to get as wide of a distribution as possible, a custom media list is a laser-focused opposite to a press release.
A custom crowdfunding media list is based on keywords that describe your industry and comprises of journalists and bloggers who have previously published articles or written about topics that cover the keywords specified.
The Media List Service you can easily order and download an Excel file with the most influential journalists and bloggers with their full contact information including email address. The most common use case of a media list is to send the press release to highly targeted members of the media in an effort to get more earned media and exposure for your crowdfunding campaign.
Krowdster has served over 25,000 Kickstarter and Indiegogo crowdfunding campaigns since 2014 and helped to raise hundreds of millions of dollars. Visit our homepage for information on additional services offered to make your crowdfunding campaign a success.