One of the keys to the success of a crowdfunding campaign is a sustained level of engagement by the creative team of the campaign. This consistent effort is crucial as the visitors and backers of a campaign expect the entrepreneurs behind the campaign to be active, especially on the communications front.
This activity should be part of your overall communications strategy and is expected in seven communication channels:
1) Refining the campaign description
In rewards-based crowdfunding, the campaign description is not static, so it must be updated and kept dynamic while the campaign is live (and beyond if the platform allows it).
I would recommend to keep updating it with new content like milestones you’ve hit, including stretch targets, new images of a product or the day-to-day of the campaign.
In equity crowdfunding, this element is part of the due diligence of the platform (that is typically regulated by the financial authority of the country where the platform is based), so it’s not usually editable once you go live.
2) Backer queries and FAQs
Campaign visitors could have queries about the rewards, their delivery or any other details. Another typical set of questions revolves around the progress of the campaign and the new milestones that you’ll be reaching.
The team behind the campaign must answer these queries and reflect them in the campaign description if possible. Another great idea is collecting the Frequently Asked Questions in the blog or web page of the project.
3) Campaign updates
One of the most misunderstood features of the platforms… and yet one of the most important ones! You should inform of the progress of the campaign and also of the project you’re funding. Reaching a certain percentage of your objective, new product designs or even new rewards are good ways to keep the campaign updates going.
Most platforms allow updates in the same page as the campaign, so make sure you use the feature!
4) Campaign blog
An option I recommend to my clients is to set up a blog with a few posts during the campaign. Even if the platform offers that option, I would recommend hosting a blog on your own website or through one of the many free services available on the world wide web. You will start creating a habit for your supporters to visit your website.
5) Communication on social networks
Communicating in social networks is probably the most demanding for the crowdfunding campaign creators. Think about communicating about any news, replying to any queries and encourage your community to back you are amongst the type of messages that you should be broadcasting in your social networks on a daily basis.
Email is probably the most powerful tool in your belt. Conversion rates are way superior to any other of the channels, by a mile! Work towards building a considerable (but highly qualified) email list before the campaign and use it regularly to aid you in your objectives.
7) Press releases
Finally, a good PR campaign can help your crowdfunding campaign. Always remember to ask any media outlet to link back to your crowdfunding page! And including the logo of any media outlet that has featured your campaign makes a really good impression on your potential backers.
Wrapping up the perseverance rule of crowdfunding
The perseverance rule of crowdfunding tells us to plan and execute a communication strategy and plan that continues to offer news and updates on a daily basis during the campaign on 7 different channels, to keep up with the backers expectations. If you have any questions about this or any other aspects of launching your crowdfunding campaign, please don’t hesitate to leave a comment or contact me.