Blog Post

Media Contact: Rami Sbeiti
207-651-2423

Treat your Crowdfunding Project as a Marketing Campaign

Since a crowdfunding project is just a vehicle to pre-sell your product or service before it's fully finished and ready to ship, it's not much different than a marketing campaign that you would put together to sell your actual finished product. Accordingly, treat it as such.

It's easy enough to fall into the mode of describing your story, the background of the project or trying to appeal to everybody and forget the end goal. A methodical marketing approach would make a huge difference in reducing your marketing cost and increasing your chance of success.

Let's take a specific pitfall that we've fallen into, and in the process of correcting in our current project on Kickstarter. Our cloud technology, IU.me, solves many problems to many people both in personal use and in businesses across different industries. Any time you have a horizontal technology, it's a challenge to structure your marketing strategy for it to reach your target audience given how broad it is. But the keyword here is marketing "strategy" vs. marketing "campaign." Your marketing strategy that you use in your business plan will have to enlist many tools and various campaigns to reach the full target audience. Your crowdfunding project is just a single campaign in your strategy, and if you attempt to broaden that too much, you will appeal to nobody.

More specifically,
  • profile your target audience into a couple of personas. If your target audience is too broad, narrow it down to only the ones that fit the crowdfunding model. For example, individuals are more likely to make a pledge than a business.
  • Build out your personas with a detailed demographics, characteristics, likes, dislikes, etc.
  • Target these personas in your crowdfunding project content. So every word, picture or video appeals to them and is making a compelling sales pitch. It's not about what your product does, it's about what your product does for them.
  • Setup your reward levels based on these personas goals, likes and dislikes.
  • Develop your crowd building strategy for these specific personals (both in social media and advertisement)
  • And finally, increase your convergence rate by targeting people already familiar with crowdfunding (better yet, already have an account in your target crowdfunding platform).
Several colleagues gave me the feedback that our Kickstarter project content is too broad, but I failed to fully understand what they meant. Our technology is broad, which is one of its key differentiators and felt the need to highlight that. Separate in your mind your product from your crowdfunding project, and approach your crowdfunding project as a marketing campaign.