Why Crowdfunding is Really Just A Test Run For Your Marketing Strategy

The surge in crowdfunding campaigns entering our social media feeds is mounting. It is no doubt that it has become a popular way for startups to obtain the funding they need, validate their product idea and get their project off the ground. What startups might not initially see, is that rewards based crowdfunding is an incredible way to lay the groundwork for your ongoing marketing and promotional efforts.

If you begin to look at your crowdfunding campaign as a marketing exercise, you learn not only how to structure your future efforts but you build a bond with early customers who feel invested in the company’s success. These customers are more likely to become evangelists and will be your best resource when testing further products or achieving high engagement.

So, how do you put this into action?

Speak, Listen, Learn

A customer-centric mindset is imperative to a rewards-based crowdfunding campaign.

They are your patrons, your evangelists, your investors, supporting your growth and contributing to your success.

So, start by talking to them! Ask questions and listen to their answers. The customer appreciates being heard and becomes invested in the campaign’s success; the campaigner gains invaluable information from their customers and can begin to develop buyer personas around which to design their marketing materials.

Plan Ahead

Start this process well in advance of your campaign launch. Your community is important to your campaign success so start cultivating it early. Many highly successful campaigns have a subscriber list into the tens or hundreds of thousands before they launch a campaign as they have been developing their community for months. Another benefit is that you can test out images, video and messaging to discover what is most effective prior to launching because once you hit the launch button there won’t be any time for experiments, just pure hustling.

Get Started

There are a ton of great, free resources out there to get you started on building your marketing strategy. Start googling for a marketing strategy template and you’ll find many in just seconds. Find one that will work for you and begin plotting your activities. Think about email strategy as well as social media. Email continues to show the highest conversion rates and many make the mistake of putting social media first. Don’t make this mistake. Also, outreach to influential bloggers in your niche is a great way to reach more potential customers.

At Next Chapter, we have worked with successful female entrepreneurs to raise nearly US$100,000 on Next Chapter via crowdfunding. Interested in learning more? Subscribe to our newsletter. Or, if you are a female entrepreneur looking to get started, contact Next Chapter for a free one on one consulting on your project.  We work with campaigners to develop their campaign strategy and get funded! [email protected] or call +852 6016 1770.