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Growth Marketing Tactics Using Facebook For Crowdfunding Products

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Roy Morejon Presentation for Growth Marketing Conference, Discussing Facebook Marketing Lead Generation Tactics For Facebook's 1st Crowdfunding Case Study on a 40-day, $1.8 Million Raise.

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Growth Marketing Tactics Using Facebook For Crowdfunding Products

  1. 1. Referral and Viral Growth Tactics For 2018 Roy Morejon - Enventys Partners
  2. 2. Roy Morejon President & Co-Founder Enventys Partners ● Serial Entrepreneur ● 2015 & 2016 Fastest Growing Companies in Charlotte ● Crowdfunded over 500 Successful Projects ● Raised over $135 Million in past 6 years ● 24 Unique Million+ Dollar Crowdfunding Campaigns ● Featured in CNN, Entrepreneur, Forbes, AdWeek, SEJ, Fast Company, Pando Daily, Yahoo! Tech, Crowdfund Insider
  3. 3. Antonia Saint New York Crowdfunding Case Study @RoyMorejon
  4. 4. CROWDFUNDING HEELS? @RoyMorejon
  5. 5. @RoyMorejon
  6. 6. WHY CROWDFUNDING? ● Minimizes risk ● Proves out market for product ● Reduces need for loans or VC $ ● Community of backers ● PR Opportunities ● No need for a website ● Easy to set up campaign page @RoyMorejon
  7. 7. LAUNCH This Works (most) Everywhere Event Promotion Trade Shows Book Launches on Amazon Mobile App Launches Product or Business Launches @RoyMorejon
  8. 8. THE STORY Antonia Saint New York is a line of women’s heels and flats made to feel like sneakers on the inside. Designed in Brooklyn with patented technology, the brand was founded by Antonia Saint Dunbar. @RoyMorejon
  9. 9. THE GOAL - Crowdfund Cushioned Support ASNY wanted to attract new customers and pre- sell its line of high-tech heels via its Kickstarter crowdfunding campaign. @RoyMorejon
  10. 10. STARTUP MANIFESTO @RoyMorejon
  11. 11. PRE-LAUNCH 1. Earn Trust - Get a presence and give back to your community first. 2. Give Value - Grow a foundation where your customers hang out, and help them solve their problems. 3. Be Present throughout the buyer journey. @RoyMorejon
  12. 12. PRE-LAUNCH GOALS ● Generate targeted email leads ● Keep email leads engaged ○ Contest Apps like Queue increase engagement + viral sharing ● Test target audiences ● Test creative: copy & images ● Small percentage of total budget spent during pre-launch phase @RoyMorejon
  13. 13. Facebook Lead Gen Ads @RoyMorejon
  14. 14. Automation is key to increasing effectiveness of Facebook Lead Gen Ads. ● Get your leads a welcome email ASAP! @RoyMorejon
  15. 15. @RoyMorejon
  16. 16. Always Be Testing - Contests vs. % Off
  17. 17. RESULTS Enter to Win vs. Discount CTA: Enter To Win: .68 CPL Discount: $1.20 CPL Leads from Discount CTA convert into buyers 2.5x better than Enter to Win CTA @RoyMorejon
  18. 18. Facebook Custom Audiences Customer Lists [Emails] Website Visitors Facebook Page Engagers Facebook Video Views Look-a-likes @RoyMorejon
  19. 19. Custom List Conversion Rates ● Segmented Customer List converts 6x better than interest based targeting ● Full Customer List converts 4x better than interest based targeting ● Look-a-likes of buyers convert 2x better than interest based targeting
  20. 20. How To Apply This To Any Business Segment Customer Database ● Top 10% of customers by lifetime value ● Segment based on product type purchased ○ Target with relevant new products ● Create Look-a-likes of these segments. @RoyMorejon
  21. 21. Regardless of your traffic source, a majority of your success is dependent on landing pages that convert. @RoyMorejon
  22. 22. Keys to Facebook Campaigns That Convert ● Start Lead Gen & Live Campaign with low budgets ○ We launch with mix of custom audiences, look-a-likes, & interest based ad sets with $5 - $10/day budgets ○ Scale up the best performing ad sets 50% per day. ● Start with 3 ads per ad set ○ Create 1 baseline ad across all ad sets, and two ads with relevant copy for the specific target audiences. ○ Different messages based on Past Customer, Recent Web Visit, or Interest. ● Test new ads vs. top performing ad after 72 hours.
  23. 23. Adding a Sense of Urgency ● Sequencing of messaging throughout the campaign ○ [Just Launched] LIMITED Early Birds, ○ Early Bird almost sold ○ Early Birds just sold out -- Don’t miss out on this Flash Sale. ○ LAST CHANCE: Final hours of Campaign! ○ Over 500 backers, only a few Early Birds remaining. ■ Sense of urgency with social proof.
  24. 24. Ads that Get Clicks ● Relevant Creative to the target audience ○ Example: Targeting Women+Fans of Hiking with a Woman Hiking & message Love Hiking? Or Hikers will LOVE these new.... “Keep the scent strong” ● Images that get clicks ○ Red, Orange & Green colors in the image, or around the border ○ Collages in the 1200 x 628 image ○ Dual Image Collages work best ● Motion Images ○ Images where just one part of the image is moving. Like the Water, Clouds, Lights flickering using a tool like Plotagraph.
  25. 25. THE CAMPAIGN LAUNCH ● Sent pre-launch leads a “just launched” email to 40K ● We started with a traffic campaign that included about 20 different ad sets and a video-view campaign with one ad set, using a daily budget between $300 - $500. ● As the campaign progressed, we added new audiences, created new ads, and expanded our current audiences from Facebook Feed only to Facebook Feed, Audience Network, Right Rail and Audience Insights. @RoyMorejon
  26. 26. THE CAMPAIGN CONT. ● We also started running Canvas ads to about 10 different audiences and Instagram ads to about 4 audiences a couple of weeks into the campaign. ● We created retargeting audiences to retarget landing page traffic, Facebook page traffic, lead generation form views, video views and campaign page traffic. ● By the end of the campaign, we had tested over 70 different audiences and were running a total of 42 different ad sets with a daily budget over $3,000. @RoyMorejon
  27. 27. 1,796 TRACKED CONVERSIONS @RoyMorejon
  28. 28. 7.03x ROI @RoyMorejon
  29. 29. THE RESULTS ● ROAS on ad spend = 7.03x ● Total tracked revenue = $439,486 over a 40 day period ● Total tracked conversions = 1,796 over a 40 day period ● Total raised on Kickstarter = $1,845,714 ● Total backers on Kickstarter = 6,989 ● Total raised to this point (Including Indemand) = $2,134,370 ● Total backers to this point (Including Indemand) = 7,891 ● Facebook Advertising was responsible for 78% of all the traffic to the campaign page @RoyMorejon
  30. 30. Conclusion… Finally :) ● Pre-Launch Lead Generation with Facebook ● Custom Audiences - The POWER of your list! ● Social Proof: Facebook Ads & Landing Pages ● Sense of Urgency ● The Setup of Successful Facebook Ad Campaign ● The Importance of Testing
  31. 31. Let’s Grow Roy.Morejon@EnventysPartners.com

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