Lightbulb! You’ve got a great idea. We’re sure of it: You’re destined to sell the next must-have tech toy or life-changing product. The virtual masses have a problem, and your business has the solution.
Trouble is, you need a little $$$ to get your venture the ground. No problem.
In this day of 280-character tweets and viral BuzzFeed listicles, anything is possible. Harness the power — and pennies — of the masses to make your idea a reality with the web’s favorite money-making method: crowdfunding.
Crowdfunding has become one of the most highly-favored and fastest-growing ways to raise money for causes, events, and projects. Crowdfunding accounts for $34 billion raised globally! That’s no chump change.
Familiar with Exploding Kittens? How about the Facebook-acquisition Oculus? Between cutting-edge wireless headphones, pioneering smartwatches, high-class fitness equipment, and more, scores of recent small-biz triumphs are the results of successful crowdfunding efforts. Crowdfunding (and a killer web host) can provide the means for ordinary small businesses to accomplish the internet age’s American Dream.
But contrary to popular belief, you don’t need Kickstarter to, well, kick-start your fundraising into high gear. By enlisting the power of your own brand and site traffic to build (financial) support, you can run your campaign on your terms and reap long-lasting business benefits. It’s demanding and requires hustle, but the growing hype and effectiveness of crowdfunding are on your side (plus, we believe in you!). From now on, consider your site as your all-in-one crowdfunding workhorse. Skip the outsourcing — you have what you need to succeed.
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Crowdfunding is a big player in the current state of e-commerce; it’s on the rise and still evolving as people and businesses experiment with new ways of utilizing its power. A marriage of crowdsourcing and microfinance, crowdfunding impacts not only the way businesses raise money, but also how individual consumers spend money.
Crowdfunding also deals with social community on the web. Just as the internet can bring together like-minded individuals for virtual book clubs, organized playdates, pop culture fan clubs and more, this collaborative financing system creates communities out of clicks and unites web users to a common goal: your great idea. It also offers avenues for web users to support companies and projects that interest them outside of traditional brick-and-mortar methods. Through your crowdfunding campaign, your website can play a role in utilizing and adding to those virtual circles and influencing buyer behavior.
Crowdfunding is typically categorized into a few main types (with many other smaller types), including Reward-Based (the pledge-based kind you’re probably most familiar with, like Kickstarter or Indiegogo), Peer-to-Peer Lending (alternative or non-traditional banking and lending solutions, like Lending Club), Donation-Based (GoFundMe fits here), and Equity (real investments made to startups). Crowdfunding has even extended to supporting top-tier athletes, financing education, and even offsetting the cost of the your annoying Facebook friend’s honeymoon fund.
OK, back to your hot new idea. Do you feel overwhelmed with the idea of crowdfunding it into creation? Don’t fret. If you’ve got a website up and running, you’re already well on your way to mobilizing your followers (and getting them to open their wallets).
Like exercise or flossing your teeth, the benefits of crowdfunding are multifold. It may not be right for every project, but if it serves your needs, it offers a host of benefits. Not only does crowdfunding offer value in financial ways, (can you say CHA-ching?) but it can bolster your brand, establish stronger and more loyal customer communities, increase the visibility of your business, help you conduct better market(ing) research, and build beneficial buzz that lasts beyond your campaign.
So, what’s the benefit of ditching those popular platforms and hosting a crowdfunding campaign solo on your site? Let us count the ways:
Issue your own edicts by running the campaign on your site. Stay in the driver’s seat and determine the experience of the campaign for your participants — tailor structure, aesthetic, and technical aspects to your personal goals. You can design and dissect every step of the customer flow to your unique specifications, rather than working around the popular platforms’ established models. A custom setup gives you the reins to alter campaign length, pledge level, media options, reward offers and more with flexibility. Plus, you’re able to give your backers more options and can implement more tactics, like affiliate marketing, that you can’t do on those other sites. Your creative spin can help set you apart and improve user UX. With a custom setup, you’ll be able to:
Remember: if you’re new to running a website or don’t quite have the technological know-how or promotional power to pack a punch, an established crowdfunding site might be a good tool to start financing your project.
If you want to run things, do keep in mind: building and running a campaign (not to mention the everyday, routine tasks for your site) are no small to-dos, especially when playing manager. While success is never guaranteed, you can increase your chances of meeting your goals through commitment, grit, and a wide arsenal of tools: strong planning, social media mastery, technical prowess, exhaustive advertising and PR work, tip-top customer service, and patience — especially during the tricky, sometimes complicated, aspects of a campaign. (And it’s okay to outsource and automate where you can). You need to stand out — that takes work. But that’s what we’re here to help you do. Read on.
So now you’ve got the why. Let’s talk how. Start small and follow these steps:
To build a better campaign, do your homework.
Utilize the host of tools available on the web to conduct vital research, like reading up on trends related to your industry, market, and keywords. A few to start:
In addition to taking advantage of the web’s wide array of tools, take to the popular platforms to research crowdfunding projects similar to yours — crowds that have backed like-minded campaigns might be interested in participating in yours, too.
And of course, don’t neglect the most important research: direct engagement with your current visitors. By soliciting their feedback, you take important steps in preparing your campaign. Create those essential early adopters by talking with potential customers and those who might be interested in learning more about your product or idea. Discover your audience — and find them early on.
(FYI: The research stage is also a good time to identify possible mentors!)
Sure, it felt like an epiphany when you dreamt up your new product idea in the middle of the night. But can your lightbulb moment translate into successful business numbers? Not every invention will reach iPhone-level success, so put the feelers out early and often to gauge the level of interest and the potential of your idea.
First of all, take time to assess the demand for the product and the needs in your field. Does your idea fit into a niche too limited to garner enough interest or attention? Does it offer the promise of providing real value to your visitors’ everyday lives?
Create a business pitch and get feedback from family, friends, and strangers, noting observed holes in your plan, places where details can be improved, and questions addressed. Are you solving a problem? Providing value to a perceived need? Is your plan realistic and unique? This insight can help you know if your idea is viable enough to continue, and provide the direction to guide further planning. If you hit roadblocks, keep refining your pitch — or rework your idea.
Just like Rome, successful crowdfunding campaigns are not the result of a single day’s work. To see your efforts come to fundraising fruition, plan ahead before clicking ‘publish.’
The most successful and well-orchestrated crowdfunding campaigns have a few characteristics in common; one is good planning. Take the time to consider a few goals, like:
Then consider: if you reach your goal, can you deliver on your product and your promises? Make sure to take the status of your website and your business into account. Plan your goal numbers around the current strength of your following and readership — a smart target amount that pushes you and your backers, but that is still realistic based on your site’s situation. Use your research about each aspect of the campaign to establish your figures. Work with a budgeting template to crunch the numbers (and try this nifty program to estimate fundraising possibilities).
With goals established and plans made, you can now direct each step of your campaign with your ultimate aim in mind.
Now that you’ve got the details of your campaign mapped out, it’s time to make sure your site is capable of handling the technical tasks of running a successful crowdfunding campaign. Between setting up seamless checkout processes and creating a positive UX, polishing your site and oiling its gears assures that your campaign — and your business — runs smoothly. As the home-base for your campaign, your site needs to be functional, consistent with your brand, and appealing (no Comic Sans or animated graphics here). Prep your site before you begin your campaign by completing the following checklist:
Additionally, a good host provides a hardworking CMS to keep up with your campaign responsibilities (like sharing updates and creating spaces for interaction). Partnering with a quality host is one of the most critical parts of running a successful campaign on your site, and luckily, we can help you with that. We’re hosting experts.
Successful communication promotes trust and satisfaction among your backers, and encourages continued participation and engagement — even shareability!
Be transparent in your communications and make your audiences feel like a critical part of your campaign (ahem, they are) by preparing built-in methods for visitors and backers to contact you easily. Provide simple contact forms and then respond as quickly as you’re able.
Lay out a menu that’s simple and easy to navigate. Don’t create a labyrinth; you want visitors to quickly find what they’re looking for.
Create special pages of your site dedicated to your campaign and your backers, where they can find information, updates, and contact forms.
First impressions are crucial, so make your website inviting: clean up your design by ridding it of old, outdated content and implementing design principles that attract eyes. Keep visual elements consistent and use them to target your CTA. Their experience on your site should be positive enough to inspire confidence in you and your campaign.
Now, a word (or two) for you WordPress users: building a successful crowdfunding campaign can be easy as pie on the popular platform with a fundraising-ready theme or plugin.
Now, time to drop a truth bomb: you can’t expect to draw crowds the day you launch your campaign. You can’t, that is, unless you’ve performed the necessary prep work.
The reality is, successful crowdfunding campaigns are actually built long before the campaign hits the web. How? Email.
Let us explain. Committed backers don’t appear out of thin air the moment you announce your campaign, especially if they know nothing about your product, and money is involved. Supporters won’t come running with wallets open unless you’ve taken the time to introduce them to your brand and ideas beforehand. Spend the months before your campaign meticulously generating leads by building an email list. Outfit your site with strong landing pages that feature an opt-in email form, committing your visitors to engage with you before you begin dropping campaign hints. Those invested audiences will be critical to your campaign success.
(We’ve already created the exhaustive guide to building landing pages, so if you need a crash course, start here.)
And it’s not just sending out an occasional “hello” email once in a blue moon. Building and prepping the rapport you need before your project launch requires that you provide value-ridden communications (like free downloads or other offerings, useful content, etc.) to your followers consistently over time. If you’ve given them something they want and made an effort to solicit their feedback, they’re more likely to engage (and pony-up!) when you present your campaign.
You can propel your success in those first days of your campaign, a push that can carry you through to fulfilling your goal if you’ve built and prepared an engaged following before you launch. Spend the necessary time building an email list so you can leverage those crowds once campaign time comes. It’s proven: 53% of email shares convert into donations, so make garnering an essential part of preparing your website. The small investment of time you spend building a landing page and collecting leads will be rewarded with increased crowdfunding success down the road.
And don’t stop building an email list once your campaign is over. Email is still one of the most powerful (and multi-purpose) marketing tools in your arsenal, so use it to continue to build your subscriber list, inviting readers to share content, and to recover abandoned shoppers through email communications.
A few more words on landing pages: you’ll want to set up a few pre-launch pages (that you’ve thoroughly tested), enticing visitors about what’s to come. They should have a singular focus dedicated to collecting email sign-ups. During your campaign, your landing pages will likely feature CTAs inviting crowds to contribute to your campaign. Keep your landing pages updated as goals change before and during your campaign.
While hosting your campaign on your own site has a myriad of benefits, the popular platforms often have an advantage: they’ve got traffic built in as established sites, and as a double whammy, reporters often scour popular crowdfunding sites looking for projects to publicize. So while you’ve got that working against you, implementing a solid marketing campaign can help you bring attention to your project. You’re not out of the game yet — not even close.
Like most aspects of your campaign, marketing should be planned and developed long before you launch, and with significant chunks of your budget devoted to it.
You need your campaign to gain early traction to promote a positive trajectory, so give it a big push as you begin, and continue to engage in daily marketing activities. Repeat after us: ABS. Or, Always Be Searching. Trust us; there really are audiences out there willing to invest in your idea.
We’ve identified email as a key marketing tactic; here are other crucial ways of promoting your campaign:
Without a yardstick to measure results, you can’t judge the success of your campaign. Of course, the numerical figures of your fundraising clue you in, but there are more analytics to consider when quantifying the success of your project.
A few basic metrics to keep your eye on:
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Well, there’s your start. Are you ready? The success of your crowdfunding campaign lies in your hands. Scary, isn’t? Sure, but it’s also exhilarating. With your hands on all the controls, you control your e-commerce destiny. Contrary to the internet’s common dialogue, you don’t need a Kickstarter or other platform to build a successful campaign. With a decked-out site, careful planning, and megaphone-like marketing, you can draw crowds and raise the funds you need to bring your stellar idea to fruition. You’ve got this.
The post How to Create a Kick-Butt Crowdfunding Campaign on Your Own Website appeared first on Website Guides, Tips & Knowledge.