There is a step-by-step proven strategy that you can use to raise money with crowdfunding.
I’m talking about getting funding for your startup or creative venture on websites like Kickstarter and Indigegogo
It is 100% possible to rope strangers into your campaign, grow your following, and get funding if you follow a smart launch strategy.
In this post, I’m going to delve into some of the powerful techniques that you can use to gather a crowd of raving fans, get more visibility, and develop an irresistible crowdfunding campaign.
We’ll cover some of the cutting-edge ways that successful entrepreneurs get backers and surpass their fundraising goal in days, hours, or even minutes.
Many of these little known secrets have been discussed on my podcast, Crowdfunding Demystified, where I bring on guests that have raised money from the crowd.
Are you ready to supercharge your crowdfunding campaign? Let’s dive in!
1. Success Isn’t an Accident. It’s Secretly Manufactured.
Have you ever wondered why some projects seem to surpass their goal quite easily within the first week? Here’s why!
One of the little known facts about successful Kickstarter campaigns is that they go to extra lengths to ensure that their project is successful right out of the gate.
Rather than setting an ambitious fundraising goal and hope they rally enough supporters to hit it, they’ll set a LOW and ACHIEVABLE goal. This is a fundraising amount that they know they can surpass within the first week or two of the campaign duration.
Secretly, they’re hoping to raise much more, but this is the minimum amount that is needed in order for them to make the project happen.
By setting a low goal, they’re ensuring a few things:
- They’re going to be able to collect the cash. Since Kickstarter is all-or-nothing, you gotta hit your goal if you want to keep the funds you’ve raised.
- They’ll capitalize on momentum. Momentum is a powerful concept in marketing and life. It’s much easier to acquire a new customer when you already have some existing customers. Not only does it create social proof, but it also makes people want to get in on the action.
- They have a “story” or “event” that they can take to the media and other outlets. Since they’ve surpassed their goal, they’re a part of a minority of crowdfunded products which might be written about by bloggers and journalist.
Once you see the benefit of setting a fundraising goal that’s easy to achieve, it becomes a no-brainer. You’re only making it harder for yourself!
Of course, you need to make sure that you can still fulfill rewards at this goal. Make sure that you’ll have enough money to ship out products to your backers.
2. Line Up Your Initial Backers for A Funding Boost
Now that you know the importance of hitting your goal, it’s time to plan for a strong launch on Kickstarter or Indiegogo.
You’ll need to line some initial backers that you know will support your project. These initial funds will help your campaign trend much better in the Kickstarter algorithm so that you’ll be seen by super backers.
I would recommend segmenting your list of potential backers into:
- Friends
- Family
- Core Supporters
- Interested Supporters
You might have the contact information of these backers in the form of email, Facebook, or even phone number. Some (typically interested supporters) might just be following you on a social network.
You’re going to want to announce the campaign in waves. First to your friends. Then to your family. Next comes your core supporters. Finally, you’ll reach out to you interested supporters.
It’s going to be your MISSION to get each group to take action as soon as possible. You want them to get their pledge in ASAP!
Not only will this help boost your funding meter, but it’s also beneficial for when you announce the launch to your “interested supporters.” These individuals are not as sold on the project as the other groups.
When they see that a TON of people have already backed the campaign, they’re going to be far more likely to hop on the bandwagon and support the project.
3. Build a Pre-Launch List of Warm Leads
Now… not everyone is going to give you their email address when they stumble onto your website.
You’re going to miss out on a lot of potential “leads” that could very easily convert into backers for your crowdfunding campaign.
When you’re in the pre-launch phase, I’d recommend spending the majority of your time working to build an email list of leads that are interested in your project.
There are many different ways to do this including:
- Live events
- Interacting on groups and forums
- Organic social media asks
- Landing pages and lead magnets
If you have an advertising budget, which you should, begin to retarget website visitors on Facebook and drive them to a landing page that gets them to sign up to your email list.
You can also target cold traffic based on specific interests and get them onto your pre-launch email list.
You should then “warm” them up to the campaign and crowdfunding platform before you launch. This will make it more likely that they take action on day one!
This pre-launch email list is an important distribution tool. You’ll use it to announce your new project.
If you think about it, many campaigns that have already had success on Kickstarter are ONLY able to raise money from their previous backers because Kickstarter notifies those backers via email that this creator is running another campaign.
Email is a major way that superbackers find out about new crowdfunding campaigns.
4. Most Six and Seven Figure Raises Invested in Advertising
If you want to raise more than six figures on Kickstarter or Indiegogo, you’re going to need:
- A stellar product that people love
- A proven marketing strategy
- A big advertising budget
You have to be willing to spend money to get your campaign in front of interested backers. The majority of guests that I’ve had on my podcast have spent money on advertising, in some form.
That could include:
- Facebook Ads
- Promotion companies
- Banner advertisements
- PR Firms and Press Releases
If you do nothing else, I highly recommend looking into how you can get media attention for your project. This is going to be the best bang for your buck, because a media hit comes with FREE traffic, credibility, and access to a whole new group of backers.
I’ve put together a free course to walk you through some of the basics of marketing, the media, and how to stand out in a crowded landscape.
You can learn more about the course here.
The great thing about advertising is that you’re not just wasting money. Advertising is not a sunk cost.
If you know what you’re doing, you can double, triple, or even quadruple your money in the form of sales of your product
5. Celebrate Your Milestones To Get More Backers
We haven’t even touched the concept of organic social media marketing. I’ve talked a lot about that in my online course, particularly how to build up a following.
If you’re wondering how to get the word out about your campaign in a non-spammy way, I’ll introduce you to the simple but ingenious concept of “celebrating” your milestones.
Basically, you want to find as many excuses as possible to talk about your campaign with your followers. This could include sharing:
- Behind the scenes footage
- Prototype renderings
- New announcements
- Milestones you’ve hit
- Stories about your supporters
The side benefit of sharing these types of messages on social media is that inadvertently you’re able to talk about your project! Followers will be reminded that you’re running a project. If they forgot to back it, they’ll then take the time to do so.
We all lead very busy lives and it’s easy to forget to do something. A follower might want to give money to your campaign, but they quite simply got caught up doing emails or taking care of their kid.
A lot of beginner marketers will spam the link to their project and say things like, “Hey can you check out my campaign?”
This comes off as selfish. It’s seen as a nuisance.
We all love it, however, when one of our friends experiences a victory. We love reading human interest stories.
Using the technique I’ve mentioned, you can make sure that people continue to view you in a positive light while you talk about your fundraiser.
6. Unlock Instant Funding With PR
What if… a bunch of visitors came to your campaign page on Kickstarter or Indiegogo, but they didn’t pledge?
They’re on the edge of becoming a backer, but for whatever reason, they click off the page. Infuriating, right?
In the past, I’ve talked about the concept of social proof and how sometimes, visitors simply don’t trust you. They don’t believe in your ability to execute your idea.
Getting featured on a media publication is the easiest way to go from being a nobody to a somebody in the eyes of the crowd.
You can quickly become trustworthy, relevant, and interesting to a website visitor that has never met you in person.
Not only does the media certify you as a legitimate entrepreneur, but it also drives traffic your way.
When a journalist writes a story on your product, all of the readers of that publication can go and check out your project!
It’s pretty powerful, and one of the reasons that PR firms can charge a high ticket price for their services.
These are many easy-to-implement techniques to get media attention. I’ve written down the specific strategies that I’ve used to get on sites like CNN, The Wall Street Journal, The New York Times, and more.
I’ve presented all of this in easy-to-digest videos in my latest program, The Complete Crowdfunding PR System.
If you’re interested in learning more, this link will give you access to some free training videos to get you up to speed on the subject.
Conclusion
I hope you found this article to be helpful! If you’re like most crowdfunders, you’ve likely come across many articles, podcasts, and YouTube videos just like this.
There’s a ton of free information out there with basic crowdfunding strategies. At the same time… still… the success rate is only 35% on Kickstarter.
If you truly want to raise funds and blow past your goal, you’re gonna have to start investing in yourself. It’s totally worth it to find a coach, invest in a program, or hire a consultant that can help you every step of the way.
Of course, if you have any questions, don’t hesitate to leave a comment down below!
