Tips n’ Tricks
Crowdfunding is becoming immensely popular amongst entrepreneurs, startups and creators of all kinds.
Individuals are launching crowdfunding campaigns not only for their personal needs, but also for funding their business ventures as well as for supporting a social cause.
When it comes to crowdfunding, social media tends to take the center stage as a means of marketing your campaign. However, email marketing can be an even more effective tool for driving early momentum to your campaign. Not only that, emails are also instrumental after your campaign is over as a means to communicate with your new found backers.
Crowdfunding has been a buzz word for a while now. You must have come across many campaigns either on your Facebook or Twitter timelines or your friends/ family approaching you personally. But you often find yourself thinking, whether or not you should contribute to a crowdfunding campaign.
When we started out in 2013, ‘crowdfunding’ was a little known term in India. But today, as we are advancing forward, crowdfunding is not just being recognized by many, but also people are heavily thriving on the engaged communities who resonates with their ideas and beliefs.
Do you know what’s similar between Deepika Padukone’s women empowering #MyChoice, Dove’s #BeBeautiful or Maggie’s #WeMissYouToo? No, we aren’t talking about the beautiful women, but the magnitude of virality these social media campaigns fetched. They were not only able to drive maximum engagement, but also made their community resonate with their idea.
So, you were able to pin down an amazing narrative and even made a kick ass video for your campaign and the campaign has now gone live. But how do you ensure that your campaign gets maximum visibility? How do you plan to spread the word about it?
Whenever I get on call with a campaigner or a would be campaigner, I tend to make them understand how to pitch their narrative and how they make it even more communicative to the contributors they are targeting. Because crowdfunding requires you to sell your ideas.
But then, in the context of the 21st century, the YouTube watching, smartphone-slinging, one-touch, complaining-about-UI, century that we live in, we are increasingly been drawn towards the thing that they would have resurrected the witch burning laws for just a hundred years ago. Videos.
What makes crowdfunding different from other forms of fundraising is the intensely personalised experience that it brings. From your campaign narrative to the video – a campaigner must make sure that the message being sent across hits every single user as if it is targeted at them. Given the vast amount of time spent on achieving personalisation which doesn’t have the chance of falling under Murphy’s Law, one custom which has contributed to this connect, is the concept of rewards.
Rewards are a way of engaging with potential backers by advancing a relationship with them. How you choose to frame your rewards should communicate the kind of relationship you wish to build with your backers.
Here are a few things to keep in mind when you are structuring your rewards scheme: