Using social media for your crowdfunding campaign is the easiest, fastest, most economical way to promote your product or cause. A successful crowdfunding campaign, whether you’re using Kickstarter, Indiegogo or another crowdfunding platform for your project, needs to be shared with a wide audience. So how to use social media for your crowdfunding campaign? The people that you already know are one important component of this process, but you want to reach even more potential supporters. The strength of social media is its innate ability to create a neighborhood of people who may or may not know each other, but who can share thoughts and views on common topics of interest. The millions of people who use Twitter, Facebook, LinkedIn and other platforms represent a significant percentage of the population, one that you need to reach if your project is going achieve the goals you’ve set for it. Figuring out which social platform to choose, deciding how to develop a social media strategy and then communicating with others highlights the value of your product and also reinforces your role in its creation.
Why Aren’t You Using Social Media for Your Crowdfunding?
If you haven’t jumped on board the social media bandwagon, what are you waiting for? Social media is the most effective communications tool that you can utilize if you want to launch a successful crowdfunding campaign. Crowdfunding in today’s tech-savvy era is a way to recruit followers who share your goals and want to help, but first they have to find you. That’s where using social media for your crowdfunding success makes the difference.
Did you know that almost 1.7 billion people have active social media accounts? They communicate with people all over the country and all over the planet, and as soon as the various space explorations find intelligent life on other planets, you can bet that the aliens will be using social media as well.
Yes, if you’re new to social media, then terms like Kickstarter, Indiegogo, Linkedin, and Facebook can sound like a foreign language. But you’ll be surprised at how quickly you pick up the lingo and from then on, it’s all aboard the social media express and you’re on your way to a successful crowdfunding campaign. You’ll be amazed at how many of your friends are already using social media to send invitations to birthday parties, post photographs of their kids, their pets, and yes, the food on their dinner plate at a favorite restaurant. But social media isn’t just an effective way to share personal news with family and friends. If you’re planning a crowdfunding campaign, up to as much as 30% of the funding that you initially receive is going to come from people that you know who find out about your project from social media.
If you believe in the cause or the product that you’re promoting, using social media for your crowdfunding campaign will build your audience of donors and supporters. You know how important networking is in your career, right? Well, it’s just as important in other parts of your life, including crowdfunding. A single tweet on Twitter can be retreated countless times; one Facebook post can end up in numerous newsfeeds. Try matching that with a bulk mailing campaign. Remember, social media doesn’t use stamps! It doesn’t get lost in the mail. And it delivers more than once a day. Nothing against the post office, but you don’t have time to wait for something to show up in people’s mailboxes. As you can see, using social media for your crowdfunding campaign is the smart way to go.
LinkedIn, Facebook, and Twitter! Oh My!
Before deciding which social media platforms are best for your campaign, you first need to evaluate the different options. First of all, you need a social media dashboard for your campaign’s marketing outline so that you can have both a previous schedule for your accounts as well as a real-time means of tracking where your traffic comes from. Two apps which are particularly effective for this process are Hootsuite and Buffer. Knowing who is showing an interest in your campaign is an important step in measuring whether you’re reaching the audience that you need in order to conduct a successful crowdfunding campaign.
Your social media platform, regardless of which ones you choose, will need a current profile bio and link, profile image and background image. People want to know who you are; remember, social media is a huge neighborhood. In order to make your presence known, you can’t hide. Come on out and meet your neighbors! Don’t limit your tools, regardless of which social media platform you choose. You can use videos, photos, infographics and GIFS to showcase your campaign product. Many crowdfunding veterans opt for a dedicated Facebook page which exists solely to publicize the campaign. You might want to use a Twitter profile, which can also be used to provide alternate customer support for questions from curious supporters who are seeking more information.
There’s more than one way to promote your product and the platform that you choose will allow you to capitalize on different social media strengths. Words are great, but sometimes, pictures are even better. That’s where visual social networks like Instagram or Pinterest come in. Be creative with your Pinterest board and add new material on a regular basis, not just from your campaign but also from other profiles. It’s a great way to broaden your awareness and other people will appreciate your interest in other projects. If you want to let your supporters see what you’re doing, why not use Instagram for a “behind the scenes” view of your product’s progress. Instagram can also serve as a ‘glamor shot” for your product as your project smiles pretty for the viewers. What’s best about your product? What do you think people should see in order to go away with a favorable impression? Show it on Instagram.
Facebook is great for videos and images, and it’s also a key component of the social media neighborhood that you’ve moved into. Once you make the decision to use social media for your crowdfunding campaign, you’ll realize that “I saw it on Facebook” has near-equal status with “Hello” and “Goodbye” in everyday vocabulary. Facebook is also the “you” that the world sees, so take the time to create an authentic and invite presence. It’s okay, as part of your profile, to admit that you don’t like anchovies. It’s not okay to suggest that people who do like anchovies should be forcibly delivered to the international space station where their taste in pizza toppings will no longer offend you. Don’t be rude; be a nice neighbor.
Your LinkedIn profile connects you to your professional network. Those contacts are also an important cog in the wheel of your successful crowdfunding campaign, so don’t forget that you can create a separate LinkedIn portfolio for your campaign.
Is your product affiliated with a particular industry? By making use of Reddit and Inbound and other sharing platforms, you’ll be able to show off your product to people who will have a particular interest in it.
What Makes a Successful Crowdfunding Campaign
A successful crowdfunding campaign takes place when people learn about your product or your cause and support it. So the first step is making sure that they hear about it—they don’t donate money to something if they don’t know the project exists. Using social media for your crowdfunding speeds up the information dissemination.
So how can you count on receiving the money that your campaign needs if it’s going to succeed? The network of people you know, the ones who are going to give up to 30% of the early giving in your campaign, are going to spread the word about your product, which will bring your campaign to the 20% funding level which is key for a campaign’s success. According to crowdfunding giant Kickstarter, 80% of the campaigns that hit that 20% funding step will advance to the winner’s circle of success.
This is all part of your social media strategy. Some of the integral steps in developing a strategy for using social media in your crowdfunding campaign include: defining your social media presence; set a schedule for the beginning of the campaign, the campaign itself, and its conclusion; Identify and know how to locate the online communities that you’re hoping to reach; figure out how your campaign will integrate posts on your website as well as your social media usage; and create a summary of how you plan to use the resources that you need to coordinate your strategy.
Finally, remember that the term isn’t called “social” media by accident. Connect and communicate with your followers. Demonstrate how important your campaign is to you. Let your followers see that you care about it. Let people get to know you by participating in forums where you can discuss your thoughts and insights on your product. The information that you can provide is enlightening for others. Their feedback is a form of contribution too, just as funds are. It’s through communication that’s sincere and regular that your network will become a foundation for current and future enterprises, as well as a way to connect with other people who share some of your ideals and initiatives. It’s important to be responsive to people when they ask questions or comment.