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Using Crowdfunding to Market your Business & How to Run a Six-Figure Campaign

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Crowdfunding isn't just about raising capital for startups, it can also be a great way to give your business a big marketing push - and one that pays for itself. According to the biggest Crowdfunding site Kickstarter only 30% of all campaigns reached their minimum funding goal. So in this session Giles will show you exactly how to make your campaign successful, and explain how it can be a great marketing channel for your existing business. See more at https://www.hyperstarter.com/about

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Using Crowdfunding to Market your Business & How to Run a Six-Figure Campaign

  1. 1. Using Crowdfunding to Market your Business & How to Run a Six-Figure Campaign eCommerce MasterPlan Virtual Summit with Hyperstarter
  2. 2. So you’ve got an existing business or a brand new idea...NOW WHAT? Since 2016 Crowdfunding has surpassed VC with over $34+ billion crowdfunded - Forbes.
  3. 3. How can we use Crowdfunding as a marketing strategy for your business for: ● Testing the market that you’re in ● Developing an MVP (Minimum Viable Product) ● Raising money ● Building up hype and awareness Take the plunge
  4. 4. Types of Crowdfunding Product / Reward Based: Kickstarter and Indiegogo for product based campaigns, where Kickstarter is the most mainstream. Equity Based: Platforms like Crowdcube in the UK, you can exchange a % of equity of your company in return for cash. Personal Based: Personal platforms like GoFundme - whether it's paying for education fees to hospital bills.
  5. 5. Examples of Crowdfunding Success Coolest Cooler (Link) ● 62,642 backers ● Pledged $13,285,226 Pebble Time (Link) ● 78,471 backers ● Pledged $20,338,986 And most recently...Trump Baby (Link)
  6. 6. But it’s not easy to reach the goal!
  7. 7. In general, platforms like Kickstarter don’t have a great reputation. Even if goals are reached, there’s no guarantee you’ll get your reward - Coolest Cooler is one example. Time delays and copycats (particularly from China) are a hindrance to both campaign owners and backers alike. Only 30% of Crowdfunding Campaigns reach their goal
  8. 8. ● Have a Great Product ● Collect Emails ● Social Media Outreach ● Press Contact ● Crowdfunding Page ● Support Network
  9. 9. It's an open term, but having a product that really serves a purpose, is ubiquitous and has a tech edge does really well on a platform like Kickstarter. A product that is a gimmick will always stay as a short-term fad. Have a Great Product
  10. 10. You need to know who to pitch to within your own network & who can generate buzz - this is why emails are so important. Whether it’s through a website landing page, running a competition or paid advertising like Facebook Ads. Chloë has written a great email capture checklist for you to check out. Collect Emails
  11. 11. People are more likely to reply to social media tweets and messages, compared to boring emails. You can connect with influencers, writers and sites faster and get them to know about you first, then follow-up with an email. You can build up relationships with these people over time (whether it's commenting on what they're doing, liking etc.,) so when you get to pitch them with your product - they already know you. Social Media Outreach
  12. 12. Press Contact This is connected with sites and writers in your niche. How to find them? Look at your competitors, see who they connected with and pitch the same writers. If your product is similar/better, then explain that to the reviewer and make everything clear in your pitches and outreach.
  13. 13. A Crowdfunding Page is the most important thing, as it's basically your sales page. This is where traffic comes to and where they can make a pledge. This is really want our Hyperstarter tool focuses on - so whether it's a classy video, detail on the special features, engaging images and text - it's important and needs to show trust. Crowdfunding Page
  14. 14. To wrap it all up, you need support. You need a group of people who like what you’re doing as much as you. Start looking at your own network of friends, family and others come into place. On LinkedIn, I’ve written a related post on connecting with your network and collecting emails. . Support Network
  15. 15. Ideally you will know who will back and support you. On Day 1 of the launch you should aim to reach your goal. By looking at who will be guaranteed backers (Friends, Family, Colleagues), who might be interested (Facebook ads, landing pages) to people who's email you collected and could be interested in sharing what you're doing to their (social) network. Also if you know who will back you, then you know how much you should be able to raise and set this as your goal amount. Keep rewards limited. So use terms like Early Birds and Super Early Birds in scarce numbers, at discounted rates. Create some urgency within your network about why backers should take advantage of this offer. Thank you to eCommerce MasterPlan for allowing me to record this session. The slides are also available at: http://hprs.co/ecmp Final Thoughts

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