In order to maintain momentum and traction, each crowdfunding campaign requires preparation and constant commitment.
Executing a successful crowdfunding campaign is a gradual, deliberate and all-consuming process. Your audience will be swayed by appealing calls-to-action and your pitch video, but crowdfunding campaigns are usually a long-game. For this reason, maintaining momentum throughout is essential. Entrepreneurs and more established businesses alike can struggle to grip investors’ interests during the pre-campaign stage and following campaign launch. Likewise, the strategies to pursue during these different phases are entirely different.
Today, the equity crowdfunding platform Equitise looks at how you can keep momentum going throughout the length of your crowdfunding campaign.
This is where your crowdfunding campaign is born, and momentum is easier, at first, to pick up. Building up your social feeds is essential – teasing these out with consistent, high quality content throughout the raise delivers real time and unfiltered news to your investors. During the pre-campaign phase your social media strategy should be established and ready to go – reach out to influencers, have your press releases ready, and communicate with blogs/websites in the relevant industry. Expanding your circle of influence and preparing as much content as possible in the pre-campaign phase raising awareness of the brand and starts to build a relationship. Don’t reveal the full deal of your crowdfunding campaign – create anticipation and excitement with snippets from your campaign video, or endorsements/teases from influential figures. This will evoke early interest and have people checking your feed for additional news when you’re ready to go to launch.
Media contacts, press drafts, email lists and a crowdfunding video should all already be in place so that you can hit the ground running when you launch – after all, 42% of funds are raised during the first and last three days of crowdfunding campaigns.
Crowdfunding raises are marathons, rather than sprints, and at this stage pre-campaign interest ideally converts into tangible contacts and investment. Here, you must use your website and engage a strong media strategy to validate your product/business, and assess its market proof. Testimonials from experts, entrepreneurs and established businesses are the most surefire means of doing this.
It’s easy for investors’ interest to lapse during the latter stage of a launch. Ensure your call to actions and hooks convert their interest into actual investment – personal messages, video content, and campaign page updates will communicate your dedication, presence and appreciation of those who have already supported you. Perks, too, can incentivise investors.
During the highly important final push, be sure to double down on those tactics that have been the most effective during the campaign – whether it’s Facebook ads or external media announcement - and capitalise on any final interest. Combine this with genuine messages of appreciation to your audience, and acknowledge how important the “crowd” aspect is to your company – after all, you chose it for a reason.
Momentum does not come naturally to crowdfunding campaigns. You will require a calendar with a checklist of the above actions in order to sustain momentum throughout your run. Don’t be content to rest on your laurels, or assume your last paid post did everything you needed it to do – take the above advice on pre and post-launch momentum and your raise will be able to reach its full potential.