11 Aug 5 Tips on How to Find and Cater to Your Specific Crowdfunding Audience
One of the most essential factors of crowdfunding is knowing your audience. It’s a no-brainer, right? However, you’d be surprised by how many people get so caught up in the turbulence of money-making strategies that it’s easy forget to stop and reflect on the conscious set of human beings connecting with them.
When you continually call to mind your intended audience, you stay focused as you go along on your campaign, tweaking services or tactics in order to cater to a particular group of people. This establishes a sense of connection and enables your crowdfunding to be more successful in the long run.
Targeting Your Audience: The Specifics
Knowing who your crowdfunding campaign is directed at, as well as the wants and needs of your desired audience, helps narrow your vision and gives you clarity.
Below are some tips on how to decide who you want to involve in your crowdfunding campaign and how you can cater to them accordingly.
Narrow it down
Let’s say you wake up one day brimming with vision. The sun is shining, birds are singing, and the god of inspiration has visited you in your sleep. You’ve got tons of fundraising ideas, all of them for good causes, and you can’t wait to share them with as many people as possible.
Great. But wait just a second.
We’re all about enthusiasm here, but let’s face facts: some of the most successful projects on crowdfunding sites typically cater to a very specific and narrow audience. Select niches are considered a good way to go because you can capture the attention and support of people who are already invested in your project; remember that the size of the group doesn’t matter. It’s their passion and drive that can help you get to where you need to go.
It can be tempting to want to wildly share your brilliant ideas all across the Internet and on every platform or site you can think of—but in the end, this could hinder rather than help your campaign. Accept that you can’t do everything. In fact, by doing too much, you lose focus and fail to really connect with anybody at all.
Select the right platform for your audience
There is a rich, diverse field of crowdfunding sites out there just waiting to be mined. Once you narrow down your audience, you can select the one that works best for your needs and that will help your crowdfunding go as smoothly as possible.
When you’re exploring your options, just remember that there’s no “one size fits all.” The site that works for you depends largely on the group or groups you are targeting in your campaign (and we know you’ve already done step one, so this one’s in the bag).
There’s a lot of overlap with crowdfunding sites, but each one is designed to cater to a specific audience. For instance, if you’re more creative, you might want to consider IndieGoGo or Kickstarter. If you want a more traditional, business-like platform, think about ProFounder.
If your idea has a more social aspect, Buzzbnk or 33needs are there to assist you, and nonprofits use fundraising sites like FirstGiving and CauseVox. Then there’s AppBackr, which focuses on mobile app companies.
Consider what you’re going to spend the money on
What audience you involve in your campaign is intricately connected to how you plan on spending the money you receive from your marketing efforts. This is because what projects you want to fund influences what people you want to reach out to; once you reach out to them, they are going to want to know how you plan on using the money they will give you.
It’s important to have an answer to this question, so make sure you’ve got a plan beforehand so you can appeal to your audience when you make your pitch. Give a detailed description of the project and keep costs as transparent as possible. This builds trust and gives your project some credibility.
Offer extra rewards
People are more inclined to help when they see what’s in it for them. This is just humanity. When we give people something, we expect something in return. In crowdfunding, the rewards is typically seen as getting some kind of return on the money donated; however, it also can (and should) include some extra perks.
So this means that once you’ve narrowed down your audience and mapped out a financial plan for their money, you should additionally provide them with some kind of extra, special reward for their support. Why? Because this helps create good relationships not only in the present campaign, but for future ones as well, should you require funding for other projects.
For example, the author of the graphic novel The 36 offered his audience rewards that depended on how much money they donated. Most were pretty standard, such as a PDF copy of the first chapter for pledges of one dollar. But for those who were willing to pledge over a thousand bucks, they could get their names and likeness “immortalized” as a character in the story.
Give credit where credit is deserved
Finally, one of the best ways to cater to your crowdfunding audience is to give them credit where it is warranted. Whether this in on notes, in film credits, or carved into a wall in your retail store’s space, keep in mind that people like to be acknowledged. When you follow through with giving them recognition, it creates good blood and gives you a good base for your next crowdfunding endeavor.
Journey Into the Realm of Crowdfunding: Let the Experts Help
Crowdfunding is an extensive field with many possibilities. That’s why it’s useful to employ the assistance of marketing professionals. They will help you narrow down and cater to your audience, plot your spending tactics, and choose the best platforms for your campaign.