Did you know a successful crowdfunding campaign can reap many benefits beyond capital for your business, professional networks, and community?

 

Did you know that a successful crowdfunding campaign can reap benefits for your business, professional networks, and community?

While a need for capital is what brings many to the innovative tool, the power of crowdfunding extends far beyond raising funds.

As you begin to set your campaign goals, collect resources, and make a plan, consider these ways your successful crowdfunding campaign can make an impact. 

  • It builds a community of supportive followers who rally around your project thanks to shared interest and investment in their neighborhood.
  • It attracts new collaborative partnerships and opens doors for conversation around your mission with individuals and organizations who are intrigued by the work you’re doing. 
  • It allows you to crowdsource ideas and feedback on your project or offering and creates a space to market test an idea or product with presales. 
  • It creates a centralized platform for you to formulate and tell your unique and compelling story with the use of multimedia like video, social media, and email campaigns.
  • It broadens your audience and potential customer base with shareable content, cultivating a more robust brand awareness within your community.
  • Last but not least, it allows you to reach toward your network of cheerleaders within your community and exchange your irresistible rewards for funds in support of your future success!

The Possibilities of Crowdfunding

 

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Gratitude is learned in adolescence as our brains begin to build muscles around the expression at the heart of community support.

Early in adolescence, our brains begin to conceptualize and build muscles around the experience and expression of a cornerstone of community support: growing gratitude. 

In The Gratitude Project, Maryam Abdullah, Giacamo Bono, Jeffrey Froh, Andrea Hussong and Kira Newman write of their global studies on the roots and evolution of gratitude, exploring how the experience moves beyond a social custom and toward a deep moral value, and they define the process of learning gratitude in four components:

  1. What do we notice for which we are grateful–a gift, a moment, a simple joy?
  2. How do we think about what’s been given to us and why it was given? Was it an unexpected act of kindness, a gesture of support, an extension of love?
  3. How do we feel about what we’ve been given–happy, joyful, appreciative?
  4. What do we do to express appreciation in return? Do we give a hug or thank you note or are we inspired to pay it forward and offer the gift of giving to others?

Just as children learn to grow their gratitude muscles with cognitive development and the support of their environments and caretakers, we can stretch ourselves to dig deeper toward gratitude with practice of this process of notice-think-feel and do.

Growing Gratitude in Four Steps

 

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Because asking for support can feel uncomfortable, here are a few concepts to consider when reaching to your neighbors to ask for a hand.

 

One of The Local Crowd’s unique features is the opportunity for local businesses to contribute rewards in support of a campaign’s goal. 

For example, imagine a neighborhood bakery raising funds to purchase a display case for additional baked goods with help from their peers at the coffee roastery next door. The roastery can donate a few pounds of coffee for their friends to offer for sale on their campaign, and benefit from the exposure and potential for gaining a new customer in a mutually beneficial exchange that Michael H. Shuman calls “the gateway for challenging economic behavior.”

Because asking for support can feel uncomfortable, here are a few concepts to consider when reaching to your neighbors to ask for a hand:

Keep it Conversational: Explore your potential collaboration with an open mind and approach your neighbors with a conversational tone, as opposed to rigidly asking in a way that could appear demanding or harsh.

Transparency is Key: Avoid any illusions of smoke in mirrors by remaining open about the goals of your campaign and the intention of your request for support. You may be surprised who is willing to offer support when it’s clear that their contribution will go to something they genuinely want to see succeed.

Focus on the Mutual Exchange: In the end, everyone wants to win, and fortunately, they can! As you brainstorm with your neighbors, explore how you can highlight their endeavors, products, or goals for their business in exchange for their support toward yours. 

 

 

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Create a dynamic and compelling campaign video by avoiding these four common pitfalls in videos that leave audiences scrolling past.

In online communication, video is king.

Your campaign video could be the first and only content your audience consumes on your campaign page, making it arguably the most important element of your marketing. Create a dynamic and compelling video by avoiding these four common pitfalls in videos that leave audiences scrolling on to the next thing:

  • Keep it short: The longer we spend on the internet the shorter our attention span becomes. Stick to 90 seconds or less to keep your viewers engaged through the video’s entire message. 
  • Get to the point: Hook your audience with beautiful imagery, an interesting fact, the reason they need to stick around and listen right away to keep them from losing interest before they’ve even begun. 
  • Show your face + use your voice: People connect to people, not slideshows. Recognize that feeling uncomfortable recording yourself is nearly universal; however, it is a fundamental part of creating a genuine connection between the person behind the screen and you, the person behind your mission.
  • Double-check the small stuff: With today’s smartphones, DIY video can be equally as successful in a crowdfunding campaign as high-production quality with careful attention to your lighting, any distracting background sounds, and avoiding overpowering music or sound effects.

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Your crowdfunding campaign’s strategy must include time and effort dedicated to building connections with your community.

One of the fundamentals of successful crowdfunding is a high-quality connection with your community of potential supporters. Whether you’re staying in touch with thoughtful email notes, personalized thank yous, or quick conversations over coffee, your campaign’s strategy must include time and effort dedicated to the relationships at hand. 

Here are a few tools to streamline your connections and create dynamic and effective conversations with your crowd:

  • Social Media Scheduling Apps: Create a dynamic content marketing calendar and schedule your Facebook and Instagram posts across your social media channels with a scheduling app like Later or Hootesuite. Both businesses offer free versions of their tools and can help you drastically increase your productivity by batch creating your content and scheduling ahead of time.
  • Email Templates: Cut down on your email writing time by creating templates to copy, paste, and add personalized messaging to. Gmail users can save template emails with just a few simple steps detailed here, or you can create a folder of pre-written texts to keep nearby on your desktop when you’re sending your messages to your connections throughout your campaign.
  • Online Design Software: In digital communications, compelling visuals are as important as text, but graphic design isn’t going to be everyone’s cup of tea. Tools like Canva offer a free, intuitive platform with a diverse library of templates for graphics to add to your social media posts, email messages, or even print off as notes or flyers to pass out in your community.

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An effective social media post will inspire, intrigue, and prompt your audience to learn more about your crowdfunding campaign. 

 

In order to create effective social media posts to share with your network, you want to make sure you’re communicating in a way that inspires, intrigues, and ideally prompts your audience to learn more about your campaign. 

As you craft your content, regardless of which platform you’re sharing it on, be sure to touch on all of the following as you build your most effective social media post: 

  • Who are you speaking to and who are you speaking about?
  • What is it that you’re excited to share with them today?
  • When and where is what you’re sharing happening? Is there a deadline, an event, any specifics that are pertinent to a viewer of your message who is interested in participating further?
  • Why should they, or any member of your audience, care to listen, learn more, or support you?
  • Last, but not least, how should they move forward? This is your call to action, and it’s key to any effective marketing message!

Your best social media content will communicate in a way that inspires, intrigues, and ideally prompts your audience to learn more about your campaign.

 

Take a look at how campaign hosts are connecting to their communities on our campaign page. Don’t forget to sign up for The Local Crowd newsletter with the form below, and follow along on Facebook to stay connected and learn more!

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Create marketing content that inspires your audience to take immediate action.

 

A call to action (CTA) is a strategic part of marketing strategy that inspires your audience to take immediate action upon responding to the content you’re sharing on your social media feeds, press releases, digital content, or traditional advertising mediums. This small but mighty sentence is the workhorse of your content and ideally, you’ll include one in every social media post you share. 

Curious about how to inspire your audience to leap into action? Here are a few ideas to get you started:

  • Sign up for our newsletter to be the first to know when our campaign launches and take advantage of our early-bird rewards! 
  • Visit the link below by Friday at midnight to pre-order this one-of-a-kind product and support our business’ crowdfunding campaign!
  • Share our campaign on your favorite social media platform and help us spread the word as we near our crowdfunding goal! 
  • Comment below with what menu item you’re most excited to try once we meet our campaign goal and launch our food truck! (Tag your friends who will join you for an afternoon treat!)

A call to action (CTA) is a strategic part of marketing strategy that prompts your audience to take immediate action upon responding to the content you’re sharing on your social media feeds, press releases, digital content, or traditional advertising mediums.

Take a look at how businesses have inspired their communities to lend a hand of support on our campaign page. Don’t forget to sign up for The Local Crowd newsletter with the form below, and follow along on Facebook to stay connected and learn more!

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A successful campaign that reaches (and even exceeds) its goals always starts with knowing the numbers of your crowdfunding budget.

 

Creating a crowdfunding budget for a campaign not only looks at your financial goals and projections, but factors in your contacts from email, social media, and other networks within your community. 

Did you know only one in five crowdfunding campaigns reaches its full fundraising goal? If you want your campaign to be one of the successful ones — that reaches (and even exceeds) its goals — you will need to know your numbers confidently.
We know that 85-90% of the backers that give to your campaign are driven to do so by calls to action by you. This means that the desired number you wish to reach at the end of your campaign must correlate with the length and diversity of your contact list. It is essential to strategize realistic goals that factor in all the necessary costs to manage your campaign.

When you calculate your numbers, keep in mind that about ten percent of your contacts will convert — meaning, on average, one in ten of the people you reach to and ask for support, will follow through. 

As you crunch the numbers, you may find your target funding goal to be too steep to be fulfilled by the length of your contact list. Fortunately, now you know.  You can then be better prepared for a slam-dunk campaign by spending more time focused on growing your network or strategizing a project of achievable size. 

Your Crowdfunding Budget: The Magic of Knowing Your Numbers

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Social proof is relevant in marketing and an element that is critical to launching a successful crowdfunding campaign with a bang.

 

Digital platforms plug into our human desire to fall into pockets of like-minded people and benefit from the extensive perks of our specific community and building a successful crowdfunding campaign looks directly to this.  We look to our neighbors for trends, emotional responses, opinions, and guidance, mainly when we are unsure of what direction we want to fall. This assurance that our friends, family, and peers are making similar choices for a product, an opinion, a color for their new sweater, is called social proof

No different from any other facet of life, social proof is relevant in marketing and an element that is critical to launching a successful crowdfunding campaign with a bang. 

Imagine scrolling through campaigns and finding a product with zero raised funds, and then imagine finding a similar campaign with an active list of backers, local organization collaborations, and proof that the campaign host has put some skin in the game. 

Which campaign are you more likely to pull your wallet out for?

Crowdfunding data tells us that the most successful campaigns launch with 30% of their goal already funded, confirming for new faces that your project is well received.

You can establish these pre-launch funds by sending personal asks for early financial pledges from your peers, making your contribution, or perhaps looking to funds received in grants for the campaign project at hand.  

As you navigate the remainder of your campaign, keep the concept of social proof at the top of mind, and publish updates in your emails and social media posts that highlight the traction your project is making. Testimonials, behind the scenes content, and photos of loyal customers engaging with the product or service are great ways to create proof that you’re offering an opportunity that’s not only beneficial to you but to the greater, like-minded community you reside within as well. 

The Secret to a Successful Crowdfunding Campaign: Social Proof

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Building a crowdfunding marketing plan that is consistent and compelling is crucial to campaign success. Here are some tips to build yours.

 

Implementing communication efforts for your campaign may fall low on your priority list as you prepare and build out all the steps necessary to press launch, however building a crowdfunding marketing plan is crucial to your success. When it comes to the time requirement for crunching numbers, managing a team, and creating a compelling and informative campaign video, making plans for daily Facebook posts and weekly email check-ins can seem like the farthest thing out of reach. However, a routine and thoughtful marketing plan can work for your campaign, building your audience, carrying you through slumps, and celebrating big wins along the way. 

Content is often unseen by your followers because of social media algorithms, so it’s important to plan daily posts on the platforms you’re opting to use to ensure that a stream of information is flowing and stands its best chance to be seen.

Also, you can make a calendar for publishing press releases, schedule email campaigns, and book any radio, newspaper, or digital advertising you budgeted for with the ad representative in your area.

In addition to routine updates on the status of your campaign, content topics can include behind the scenes looks at what your team is up to and announcements for new rewards or incentives. Be sure to carve out time to respond to comments and messages from your community to demonstrate that you care about them and are grateful for their interest.  

Last but not least, it is important to remember that this is no time for modesty, but rather a time to celebrate your efforts enthusiastically; lead your messaging with confidence and certainty that your project is gifting your community as much as they’re gifting to you!

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