The credibility rule in crowdfunding

The credibility rule in crowdfunding is the key to generate trust to get a good conversion from visitors to backers. As we discussed in the 1-3 rule, if we manage to get enough credibility, we should have a conversion rate between 1 and 3%.

The main strategic elements to comply with the credibility rule in crowdfunding: description, video and profiles. Let’s look at them one at a turn.

The campaign description

The campaign description is the base of its credibility. In it, we need to cover elements like the use of funds, the team behind the project and their credentials (for example showing previous projects).

La descripción de la campaña es la base de su credibilidad, en ella se deben combinar elementos como la justificación del uso de los fondos o la presentación del equipo del proyecto y sus credenciales (o proyectos anteriores).

The campaign video

The campaign video is another key element to motivate visitors and generate trust. A video with the prototype of the rewards and the team is essential. Other ways to generate that credibility (or ‘reasons to believe in marketing jargon’) is with testimonials of people that have tried the prototype and endorse it.

The campaign creators’ profiles

The campaign creators’ profiles, both in the crowdfunding platform and social media, as well as the social media accounts of the project, are the final key strategic element of the credibility rule in crowdfunding. It’s quite likely that a potential backer will search for information about the project. Make sure that the stuff their find is highly curated for each of the members of the team.

How to make sure you’re covering the basics of the credibility rule in crowdfunding

• Generating credibility in the project description, video and team profiles.
• Talking about the team and their credentials.
• Being transparent with everything related to the campaign.

Wrapping it up

The credibility rule in crowdfunding encourages us to have a transparent project description, video and team profiles to generate the necessary trust in potential backers to convert into your loyal fans. If you need help on this or any other part of your crowdfunding campaign strategy, do not hesitate to contact me.