Crowdfunding Best Practices

Why Clear Communication With Backers is Essential

Jules

by Jules

On 2017 M02 20

by Jules

People supporting other people's dreams without any real connection between the two; isn't that a magic that deserves a big round of applause? In return, as campaigners, it is our duty to keep our supporters duly informed about all that is happening with the product and the project.

A boundless curiosity amongst the backer's community about the campaign is obvious and justified too. All the campaigners must cater to that in their best capacity. It is natural that your days as a new business person would be overwhelming. Umpteen unwanted contingencies pop-up from all around. The to-do list would be inarguably longer than most of us can imagine. Still, the silver lining to all of this is your crowdfunding family that showed incorrigible trust in you.

What you owe to your supporters is a constant communication between you two. The idea of this article is to guide you on how to handle the communication flow seamlessly with your supporters aka customers during and after the crowdfunding campaign:

The good, the bad, and the ugly – Tell them all

Your relationship with your backers ought to be transparent. It is of utter significance to share all kinds of good and bad news with your supporters. Naturally, they would be delighted at all the things on the upside and upset with anything going downward. Chances are they may turn out rather indignant at things going a different lane than planned. Bear with them. Explain them about the situation and your plan of action to rectify things at the earliest. And, you will be trusted. However, if you try hiding the shortcomings happening in the projects because you do not want things going out of control, you will do no good.

As eventually if your backers get to know about it from other sources, they may feel cheated. The underlying fact is that they have already shown their faith in you by giving you their hard-earned money. It is your turn to protect it by being candid. This uninterrupted communication will bring to you many other benefits that include assured backing for your future campaigns and being the first of your customers when you break into the marketplace.

Never stop spreading the word

Spreading the word online and offline is the little secret that will take you to crown of success. Once your campaign is live, measure the different sources that are sending traffic to your campaign page, landing page, and the website. You can readily track your Kickstarter or Indiegogo campaign visitors by adding Google analytics there. Accordingly, create a strategy to capitalize on the sources that are sending you the highest number of audiences. You will need to upload enough meaningful updates that will entice your target audience on all your social media pages and handles periodically.

Also, doing a PR round that covers all about your project will help you earn a credibility certificate. Nonetheless, your blog and newsletters too are a slow but sure ways to win supporters. In sum, create a list of all the possible touch points like social media, email marketing, community marketing, forum posting, press release, and everything else that you can think of and continue to hammer.

Speak often, seek suggestions

Saying a casual hello or wishing a Merry Christmas will help you bond better with your hundreds or thousands of mini angels.

An effort from your side just to let your supporters know that you are thankful to them will help you deepen your relationship with them. Nonetheless, entrepreneurship is an ordeal that will take a toll on you in every way. Therefore, when you are at your wit's end you can, and you must always turn to your crowdfunding family. After you, it is they who could see sense in your project. Therefore, they will be the best people to give you earnest opinions. Besides, your supporters come from different locations and diverse backgrounds, hence seeking suggestions from them will help you see your project from numerous different angles.

Understand that these little exchanges will be of great premium to your project. And one of the most important places to do it would be your crowdfunding page. Your Facebook page or website can second it. However, ignoring your crowdfunding campaign page post the campaign will put you in dim light.

Manage the expectations

Apart from money, there are a lot of emotions and expectations vested in a crowdfunding campaign from the supporter's side.

Communicating efficiently and strategically will help you respect and protect the interests of your backers. To begin with always keep a room for contingencies before you put up any such tentative dates for delivery. Secondly, there are chances that all the features that you promised in the product will not happen. Therefore, it is best to segregate all the features of the product into two categories.

One list should include features that will inevitably be a part of the product. The other one should include the wish list which possibly will be the part of the product. Going overly ambitious with the product could make the supporters get extremely hopeful of a miracle product popping up out of the box. In short, instigate curiosity amongst your supporters in moderation. Above and beyond, keep discussing with your audiences about any legitimate changes in the timeline. Also, disclosing information before in hand too can heighten supporter's expectation. Therefore, your updates should be precise, timely, and honest.

Conclusion

Crowdfunding is not selling - instead it is convincing. People pay you for a product that is still to happen. Why? Most of the times than not, the primary reasons stand to be that they liked the storyteller above all. They want to provide fuel for your passion. They could see hope in your hope. In the end, all they expect is to stay abreast with your journey as a budding entrepreneur. Talk to them. Discuss with them. Ask from them. Walk that extra mile, and you will earn a lifetime brand ambassador in each of your supporters.