Reach Your Crowdfunding Goal: Getting Started

Kickstarter has evolved since it began in 2009, and its evolution has given entrepreneurs an exciting new path. Kickstarter has become one of the most effective ways to launch a new product.

Here are the top 3 reasons why:

  1. You can raise money through pre-orders before you manufacture your product. (You only need a functional prototype to launch.)
  2. You can tap into a HUGE audience looking for awesome new products. (Kickstarter alone has millions of unique visitors every month.)
  3. You can validate your product and gather customer feedback.

There are already thousands of entrepreneurs taking advantage of Kickstarter. Since 2009, Kickstarter has raised nearly $3 billion on its platform. The best part? Kickstarter is becoming more familiar to the mainstream consumer as it continues to grow.

If you’ve ever thought of launching a new product, now is the time, and Kickstarter should be your platform of choice.

But without backers, your product won’t be able to come to life. This series will help you gather a backer community and build the foundation for the rest of your product launch. By the end of this series, you’ll know the exact steps you’ll need to take to build and nurture an email list to reach your goal just 24 hours after launch.

Let’s start with the basics

There are three phases to a campaign: pre-campaign, campaign, and post-campaign.

The most important of the 3 phases is your pre-campaign. In this phase, you are building the foundation for the rest of your product launch.

Here, you’ll test your product positioning, create your marketing assets, and, most importantly, build a highly qualified pre-launch email list. That last item is the secret to crowdfunding success.

The pre-launch email list is so important that I recommend not launching your campaign until it is big enough. Your email list is the key to hitting your goal within the first 24 hours.

Excited yet? Let’s get started!

Build your community

Here’s how you will build your community:

  1. Send qualified traffic from Facebook to an optimized landing page
  2. Capture email addresses from visitors to your landing page
  3. Nurture your email audience using email marketing

Here’s a high-level view of what your marketing funnel will look like:

Create your lead offer

A lead offer is something of value that you give in exchange for a person’s email. The more value you can give the better. But be warned: if your lead offer strays too far from your ultimate goal (driving a purchase), then you’ll get cheap leads that don’t end up converting. A strong lead offer will drive your cost per lead down and your conversion rate up in both the short and long terms.

So ask yourself: What can you give your potential customer in exchange for their email address?

At LaunchBoom, we’ve tested many lead offers over the years. Here’s our best performing one: “Enter your email and be the FIRST to know when we launch on Kickstarter. You’ll get a HUGE early bird discount.”

With this lead offer, you are justifying why you need their email address (to notify them first) and the benefit they’ll receive (a huge discount).

Quick tip: We’ve tested giveaway lead offers and typically steer away from them because the motivation to give an email is largely driven by winning one free. On the other hand, wanting a discount is directly tied to purchase intent because there is an understanding that they will have to purchase the product to get the discount. This leads to higher quality leads.

In the next post, we’ll dive into the details of how to build an audience on Facebook to drive traffic to your site. In the meantime, start thinking about your lead offer, and check out LaunchBoom’s blog for more crowdfunding tips and tricks.

Learn more

Learn how to get your backer reward shipped out as planned and prevent your campaign from running into common but costly mistakes that other crowdfunders have made. Download “The Complete Crowdfunding Fulfillment Guide.”

 

Read the full series