Crowdfunding only seems to be easy, so manageable but it isn’t. The reality is that it takes a lot of sweat and dedication to run a successful crowdfunding campaign. It isn’t possible to get the job done with the help of one person, this is where the public relations firms get in the game to make it all happen. Public relations companies spend time and money organizing their campaigns and working them out.
It is completely fine that we humans are bound to make mistakes, but what matters is how we learn from them. More important is that we don’t repeat them again. Below mentioned are some of the mistakes that happen when crowdfunding is setup. Read carefully:
● Not screening your campaigning for a review:
This is a significant cause of failures in the campaign. Invite all your subscribers, family-friends, and supporters to study your campaign and offer their inputs before releasing your campaign to the world.
Go for a screening test for an emotional bond and offering you a chance to assess your message objectively. Think it a private launch, and ask your private audience to finance the initiative as well.
● Not sufficient social capital:
The topmost reason why most campaigns fail is the lack of social capital. Hitting the key goal of achieving at least 30 percent of your funding target in the first 48 hours is crucial.
If you do not have a large network of friends, family donors and more ready to fund your campaign, then it is important to launch with a bang and eventually campaign success to perform pre-launch marketing activities to create a targeted email list of potential backers. This can be made possible with the help of a Public relations agency.
● Lack of frequency and consistency:
It is always said aloud that “consistency is the key to success.”Consistency is an important part of any campaign for crowdfunding. The frequency of various outlets to meet potential supporters defines the success rate of your campaign. You will detach them from your campaign objectives by not producing social networking updates, email newsletters, Instagram articles, photos, and videos to meet your backers at the proposed pace.
● Not being prepared to serve as a customer service desk:
It is normal for hundreds and even thousands of inquiries, emails, and feedback about the campaign, incentives, and the final product to be launched and collected by a campaign. Makers must be ready to cope with the amount of contact needed by crowdfunding and have a strategy. It has been shown that effective communication techniques mostly during a campaign make a campaign more likely to be successful. Have a strategy for the audience and interact freely. The more likely you are to make your campaign go viral, the more you can incorporate your supporters to get them excited about your campaign and get your audience to share it as much as possible.
● Poor Content:
What they see is what they understand theory is going to work here! If a photo is worth a thousand words, then it is best for you to make sure that it says the right thing. Your photos should help you tell the story and should be succinct, well thought out, and consistent with your messaging. Using a professional photographer and a copywriter is always necessary. Nothing undermines the confidence of your audience in you quicker than a poor first impression.
● Failure to launch your campaign using a successful marketing plan:
Always launch your campaign to match it with your marketing strategy. Employ a PR team if possible to understand and raise the interest of your early supporters. Effective crowdfunding campaigns tell their followers well ahead about their launch date and add drum-rolls to their campaigns.
While you take care of these mistakes not to happen, always remember to include a public relations agency when it comes to crowdfunding. For several reasons! Most importantly, to make it happen and spread the word presence of a public relations agency is very important. Get in touch with public relations firms especially the ones who hold crowdfunding experience.