Crowdfunding Marketing Mistakes to Avoid

 

The interest in Crowdfunding is rising steadily, thanks to the undeniable success of various Crowdfunding campaigns. Nonetheless, despite the numerous successes in the campaign, more individuals have utterly failed with their efforts. One prevalent mistake associated with their Crowdfunding would be in terms of marketing. Remember that not many people are aware of who you are when executing this campaign. It is essential to conduct an excellent marketing strategy to introduce your project and help you meet your funding goal. Here are some of the most common Crowdfunding marketing mistakes that people typically commit.

 

Avoid Relying Too Much on the Crowdfunding Community

 

Many people who started their campaign quickly think that they only need to post their project on the site, and the community will provide them with their primary source of funds. According to the result, only a tiny percentage (5%-25%) of small business capital comes from the Crowdfunding community. It means that over-relying on the community is one of the Crowdfunding marketing mistakes you need to avoid. You need to understand the core audience of the site 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. They are the very first people who will invest in your project.

 

·         Brand Community- Individuals accustomed to the brand but may not be aware that you are running your Crowdfunding campaign. It will not take too much to convince them that your project can be viable.

 

·         Crowdfunding community- This is the community that belongs to the platform.

 

·         Outer Circle- People that are outside your community and your principal network. You will need to connect with these people on the platform where they can be found. For instance, if they are on Facebook, you need to have a strong presence on this channel.

 

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 when you present a viable and robust project. An excellent 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 is aware of 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 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.