What promotion/communication channels bring the most response in CROWDFUNDING?

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1. What promotion channels would you say are the most vital for successful CRF campain? Where is the best to communicate your idea the most? Virtual communities such as forums, peer-peer, Reddit? Or influencers in area such as bloggers, specialized websites (TechCrunch etc.), social media (FB,Twitter...), Google ads. I understand all those help, but I'm interested in platform which has the best impact on driving success to project.

2. Is CRF campain more successful because the product is great (it sells itself) or because of quality promotion? What makes ''great'' products fail and on the other hand some ''bad'' ones succeed? What if I'm doing promotion for someone else's idea and the idea is not something revolutionary? Should I just quit or could it be ''saved'' with good promotion practice? How would you explain similar products end up with different success? In what percentage you would say the success depends on let's say product 60% communication 30% luck 10%, or product 90%
communication 10% etc.

3. How do you measure response, how do I know which channel brings me the most backers? And therefore measure where to invest in promotion. What measure is the most relevant for response on social media (likes, shares, followers, retweets, subscriptions)

4. I've read many articles on this, but don't get many answers. They usually say make a good video, respond to backers, make buzz beofre the campain etc, but that is something I think should be common. Let's say I'm starting my own clothing line which I would sell online. We know there are a ton of companies doing just that, and my prouct isn't something extraordinary or different. Maybe only goodloking clothes differentiate me from competition. So, where do i communicate it? Just search fashion magazines and pitch? Or the idea is destined to fail in the beggining?

Many questions, I know, but I hope you understand what I'm asking. Thanks
#bring #channels #crowdfunding #promotion #response
  • Profile picture of the author Boyfriend

    I assume you are talking about traditional form of crowdfunding (donation or reward based). For equity based crowdfunding, the backer base is quite different, thus the channels for reaching your backers would be different.

    1) It really depends on your budget. In some cases, companies raising capital via crowdfunding hire specialized agencies to promote their campaign and this can cost you up to 50% of all crowdfunded capital. Usually they use combination of lot of channels (social media ads, promotional articles etc.). As regards to forums, I havent seen one with a sufficient user base to actually have a significant impact on crowdfunding campaign. You would have to use then some traditional media or media focusing particularly on crowdfunding.

    2) The product does not have to be great. The product has to be sexy, and that is the most important thing. People that crowdfund projects in most of the cases are incapable of assessing the potential of the project or business case. They crowdfund projects impulsively and all that matters is how good you show your project (as far as I have heard, making a short promotional video is crucial as it increases credibility).

    3) I guess you would have to hire professional to have such a detailed analysis.

    4) First thing you need to do is really understand why you are special. If as you say, it is goodlooking clothes, then try to emphasize it. And this is very important. However, remember, that if there is truly nothing that differentiates you from others, has no true social value and is not sexy enough, finding backers for your project will be difficult.

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