Social media and crowdfunding go hand in hand like two peas in a pod.
Social media allows business owners to raise awareness to their business goals or to the crowdfunding campaign that they are running on various platforms such as Crowdcube or Indiegogo. Alternative funding relies heavily on social media before, during and after a campaign.
Why Do Social Media and Crowdfunding Go Hand in Hand? Before Your Campaign
The best thing to do with social media before crowdfunding is to build up a large number of followers online.
You’ll want to start when it comes to building up a social media following is to invite friends and family. You can also promote your social presence by posting links to your other social media accounts on your company website.
The main point of using social media before launching your campaign is to connect with potential investors who are interested in learning about your product and want to see it flourish in the world. Through this link on social media, it will allow individuals to hear more about your potential product and how it can better their daily lives.
When you are finally building up a social following, the best way to keep them engaged is to use the interesting content. Think about including videos that show off how your product is going to improve their lives, or even add images of your product during the development stage. One way to ensure that you can retain your social following is to document the process of the product.
Why Do Social Media and Crowdfunding Go Hand in Hand? During The Campaign
Social media is also crucial during your ongoing campaign too. This helps campaigns drive up contributions made by backers or even help your project reach new audiences if they need that little push to reach the crowdfunding goal that they have set.
Using the content set up before the campaign, it becomes important during the campaign as thoughtful content has been proven to generate momentum. A well-timed video or image can be the push needed for your followers to make a contribution bringing you a step closer to reaching your goal!
As a project gets closer to the deadline, using social media to show gratitude to people who have already contributed to the campaign is important. By doing this it helps you get your name out to similar people in their current network, giving you access to a huge background of potential supporters of your product.
Another way to drum up support is to ask a core group of your supporters to announce the contribution that they made on their own social media pages, which in turn generates authentic endorsements and helps you push past your social presence.
Why Do Social Media and Crowdfunding Go Hand in Hand? After The Campaign
The use of social media does not stop once the campaign has been successful. It is still very crucial after the campaign has finished as it enables you to show your backers how the money that they have invested in the business is going to be used.
The way you can communicate this information to your supporters is by posting frequent updates. This enables businesses to convert their supporters into customers so that they have a potential revenue stream when it comes to the actual release of the product.
Continuing with social media after the campaign is a great way to strengthen the ties with your audience and ensure it provides you with a wide community to tap into at every stage of your business venture.
Keeping up to date with those who have been supporting the campaign since the beginning can be important if you decide to go through another round of crowdfunding later down the line, in which you would already have a community that you could go back to when looking for more investment as you’ll have already built a strong base for your product/service.
Do you need personal advice for your crowdfunding social media plan?
We can help. Drop The Crowdfunding Studio are proud partners of Crowdcube and Indiegogo. We assist ambitious businesses in communicating their ideas, products and services with outstanding crowdfunding video production, campaign design, crowdfunding marketing and crowdfunding PR.
To learn more about us and our services, visit our website: drop.studio
Or book a free phone workshop today and ask us anything, like how to create a successful crowdfunding campaign or how to accelerate your business from zero to fully funded.