With the popularization of crowdfunding platforms like Kickstarter, having a successful campaign is within any entrepreneur’s reach. Running a campaign will make you realize the power of the crowd and can get your company started on the right foot.
If you’re thinking of utilizing a platform like Kickstarter to crowdfund your startup, preparing for your launch months in advance will increase your chances for success. As an example, for Lume Cube, an innovative startup that makes sports-oriented lights for photography and video, preparing for the Kickstarter launch of its new product the Life Lite involved months of hard work.
Before the launch of its campaign, Lume Cube not only finalized prototypes and set up production, it also worked on major partnerships with athletes like Ryan Sheckler.
Having a successful campaign involves several moving parts, and nothing should be overlooked. One of the most important assets is your video; you need to make sure it embraces a positive feeling that pushes people to support your campaign.
If you’re looking to have a wildly successful campaign for your company, you should follow these four essential steps below:
1. Implement early outreach.
It is critical to begin reaching out to partners, affiliates, friends and family at least a month in advance. Give yourself plenty of time to organize whom you are going to contact and how, so when it comes time to launch, you aren’t scrambling to find people to tell.
Early outreach enables you to create a grassroots movement of your campaign from day one. Many creators overlook the importance of your first day, as a big push will make your project more exciting for everyone involved.
2. Form key partnerships.
Creating partnerships in your industry will enable you to understand your target market and to extend your reach. If others in your industry have run a campaign, you may be able to do a “backers swap.” This means that they will post about your campaign in an update, and you’ll do the same for them.
Partnerships with influencers in your industry can also be a huge help. In Lume Cube’s case, the company was able to partner with legendary surfer Jamie O’Brien and skater Ryan Sheckler. Through these partnerships with two major athletes, Lume Cube not only has a deeper understanding of its product-market fit, but can also utilize the social reach of these partners to gain more exposure.
3. Create cool content.
One of the most important parts of any crowdfunding campaign is your content. This includes all videos, photos and text in your campaign. You need to have calls-to-action that get people to support you throughout your video and actual campaign page.
Many entrepreneurs forget to include “the ask” in their pitch. If you want someone to support your crowdfunding campaign, don’t forget to ask.
4. Establish teamwork.
When you launch a project on Kickstarter, you are truly creating something from scratch. To make the launch process easier, it is essential to have a team behind you. In a Kickstarter campaign, there is simply too much for one person to handle.
For the Lume Cube team, this has meant dividing up roles for an upcoming launch. While some team members focus on the actual product development, others create cool content. The balance in roles between team members is what enables companies to have success when crowdfunding.
One of the most daunting aspects an entrepreneur faces when launching a crowdfunding campaign is that everyone can see if you’re successful or not. Unlike in private companies where sales are kept secret, in a crowdfunding campaign, the amount of money you have raised is clearly shown.
For entrepreneurs, this should be a motivator to push themselves past their goals so everyone can see their success. Now that you know the essentials of having a successful campaign, it’s time for you to put these lessons into practice.