Crowdfunding allows innovators to harness the power of social media to reach out to potential investors and pool resources to generate capital. By using websites like Kickstarter, Indiegogo, and MicroVentures (among others) future-leaders are able to pitch ideas to potential investors.
The benefits are two-fold:
- Generate cash to get your idea off the ground
- Create suspense and interest in your idea before it even enters the market!
Successful digital marketers know that creating a community is imperative to reaching your target networks and generating buzz. Social media is the perfect companion to any crowdfunding campaign because it can you strengthen that community, and multiply your efforts! Here’s how to connect to your post crowdfunding community and help it thrive:
Share Frequent Updates
The campaign is over, and you’ve met your goal! As you focus on getting yourself off the ground, its important not to forget those who supported you! Your investors feel tied to your work, and they want to see your progress and, ultimately, your success!
- Post updates and photos to highlight your progress and growth!
- Continue to respond to comments and questions.
- Use social media to reach out to your backers outside of your crowdfunding page.
Your backers and investors are the reason you are able to reach your goal… acknowledge them and show your gratitude.
- Post a “thank you” on social media, or in a newsletter, acknowledging them by name.
- Reach out personally and let them know how much their help means to you.
Being humble and authentic will go further in building a good a strong community than any pitch or tactic ever could!
If your project hits a setback, its important to communicate with your backers. Honesty builds trust.
- Explain the nature of the setback, and offer information about how you are navigating the challenges.
- Update your timeline
- Be humble and, if appropriate, offer an apology.
- Always focus on the positive; your commitment to seeing the project through to a successful completion!
If you promised a perk or incentive, deliver on it in a timely manner. Show your backers that you mean what you say, and that you are reliable. Failing to do this might give the impression that you aren’t organized or trustworthy.
Indiegogo’s Free Post-Crowdfunding Checklist is a great resource for more ideas and suggestions about what to do after your campaign ends.
Above all, remember that investors give to crowdfunding campaigns because they want to help small start-ups compete in the bigger market. They love the feel-good factor of helping make your dream come true. Take the opportunity to create a network of fans and supporters who are invested in your product from the start, and then turn them into your future customers. Click here to find out more about SocialEngine, and how we can help you build your community and expand your network.