The interest on Crowdfunding is rising steadily which is all thanks to the amazing success of various Crowdfunding campaigns. But despite of the numerous successes in the campaign, there are more individual who have utterly failed with their efforts. One prevalent mistake that is associated with their Crowdfunding would be in terms of marketing. Remember that no one in the site knows who you are and it is essential to conduct a great marketing campaign in order to introduce your project to help you meet your funding goal. Here are some of the most common Crowdfunding marketing mistakes that people normally commit.
Avoid Relying Too Much on the Crowdfunding Community
A lot of people who started their own campaign easily think that they only need to post their project on the site and the community will remain as your main source of fund. According to the result, only a small percentage (5%-25%) comes from the Crowdfunding community. This means that over-relying on the community is one of the Crowdfunding marketing mistakes that you need to avoid. You need to understand the core audience of the site in order to increase your funds.
- Your Inner Circle- This would be the people within your circles. They can be your network, your family or your friends.
- Brand Community- Individuals who are accustomed to the Brand but they may not be aware that you are running your Crowdfunding campaign.
- Crowdfunding community- This is the community that belongs to the platform.
- Outer Circle- People that are outside your community and your principal network.
Low Investment in the Marketing Campaign
One of the worst Crowdfunding marketing mistakes that you can commit is the underinvestment in your marketing campaign. It is very tempting to think that the fund will just come the moment that you present a viable and powerful project. An amazing Crowdfunding page, complete with video and photo will not be sufficient to help you achieve your funding goal, you need to make sure that the public will be aware about your project. Consider this like you are planning a party, no matter how great the food is, the set-up and the presentation at the venue, no one will come to your party if they are not aware of it.
Overestimating the Crowdfunding Site
Crowdfunding is a powerful tool, but overestimating its power is one of the common Crowdfunding marketing mistakes. You can’t just expect to build a project, and the fund will instantly come. You need to carefully put your marketing strategy into more powerful platforms such as social media platforms. Your social engagement can increase the awareness of your audience about your project. In addition, it will not only improve the result, but it will also enhance your relationship with your audience.
Having a strategic marketing foundation and avoiding the common Crowdfunding marketing mistakes will dramatically increase the success of your campaign.