View Full Version : Crowdfunding Advice

05-29-2013, 01:15 AM
Hey everybody,

I am publishing a book this year and releasing free training tutorials at TeamCrowdFund.com (http://www.TeamCrowdFund.com) to help people with their crowdfunding campaigns. I'd like to make a thread here to give some advice to anybody who is looking for some help. Feel free to ask me anything and I will answer it for you.

You Have To Plan In Advance
The most important strategy that is used by some of the most successful campaigns is that they prepare for their campaigns in great detail before they launch it. On some crowdfunding platforms, your campaign may even be hidden from people browsing the website unless you meet certain funding numbers in the first few days of your campaign. You wonít get funded if people canít find your campaign.

Planning your campaign in great detail is the basic premise behind launching a successful campaign, and I am confident that you will be on a path to a more successful and more profitable crowdfunding campaign if you take this one piece of advice and donít rush into your campaign.

"You are creating an experience for your funders."

Think of the last time you bought anything: A soda, an iPod, a book, or an attorney. Why did you give the person selling that item or service your money? The answer is because it benefitted you. Did you ever consider the motives of the person you were handing money to, or did you just want to quench your thirst or listen to some music?

The same concept holds true for the people viewing your crowdfunding campaign. They donít care about your personal motivation to create an item or make money. They will only hand you money if it benefits them in some way. For this simple reason, you have to create a campaign that is centered around the needs and desires of your funders. Eliminate your personal motivations out of it all together.

You are not creating a crowdfunding campaign to make money. You are creating an experience for your funders. Follow this rule, and you will be well on your way with your path to success.

05-29-2013, 01:19 AM
Build Your Crowd Before You Build Your Campaign
You have to build a list of people who are actually interested in funding your campaign before you launch your campaign. By following this strategy, you can have higher quality prospects visit your campaign page and you can gain more funding with less people. When you have this contact list built in advance, you are able to send massive amounts of traffic to your campaign the moment you launch.

When you see those campaigns that raised hundreds of thousands of dollars, they all had a crowd of potential funders ready to go from the moment they launched their campaign. The first step that you should do is go out and research who your most likely type of funder is, where you locate them in large numbers, and make a list of those places. Not everybody will fund you, so you have to make a profile of your ideal funder, and narrow down your focus around where they are likely to gather: Online forums, blogs, social media pages, and even offline sources such as local groups.

One of the reasons crowdfunding has exploded in recent years is because of social media. Social media is an excellent medium that can drive large amounts of people to your campaign in a short period of time. Because your campaign is limited in duration, creating viral awareness through highly targeted social media channels is a vital element to your crowdfunding success. Facebook and Twitter top the list due to the sheer volume of people utilizing those platforms so they are pretty much a requirement to use.

If you are not familiar with marketing, you should spend some time learning the ins and outs of it as well as building a network in your industry. Getting interested people to your campaign page is the first step of the process.

05-29-2013, 01:24 AM
Great info thanks :):)

05-29-2013, 01:27 AM
This is a story about a failure I had when I first got into internet marketing. Hope you can learn from it

Who is Your Ideal Funder?
One of my first online products that I sold was a dating guide that taught guys how to meet a girl at a bar. When I decided to advertise this product, I decided to go with the online dating site PlentyOfFish.com because it was built for people who wanted to date. When I launched my first round of advertising, I made sure to reach as many people as possible in order to get the most sales.

For the 1,000 views of my banner advertisement:
∑ 500 of them were by females in their 40s
∑ 300 were by males 18-20 years old
∑ 200 were by males 21-30

I just wasted 80% of my advertising budget to people who had little to no interest in my product.

I had a major problem with this round of advertising. I just wasted my time and effort when half of my views were by females in their 40s who had absolutely no interest in picking up girls in a bar. I also came to realize that 18 year old guys (in the United States at least) are not old enough to go to a bar and they were not my ideal customer. About two percent of them still purchased the guide because they decided the advice I gave could be used outside the bar as well.

So now I decided to target my advertisement only to 21-30 year old males who are single, and indicate in their interests that they drink often. They are old enough to go out to bars, they are single, and I know they are interested in drinking. This demographic of people were my ideal customer. The percentage of people who purchased from this round of advertising was much greater than the amount that purchased from the first advertisement where I indiscriminately targeted everybody.

Are you wasting your time marketing to people who have no interest in you campaign?