CrowdFund Genius Live 1.4: Crowdfunding Q&A
How to run a Crowdfunding Campaign! ZacBob answers questions from around Twitter on CrowdFund Genius Live on How to run a Crowdfunding campaign! Every Friday 8PM CST on Meerkat & Periscope. Ask your questions to @CrowdFund Genius on Twitter.
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Q1: What is the best way I can increase interest in my crowdfunding campaign when it hits a plateau?
A: Prepare for it to happen in advance. Everybody knows that you get little bit in the beginning and little bit at the end but during the middle it’s kind of hustle! You’ve got to get there, you’ve go to make sure you’re planning for that because there’s going to be a dry spell. The backers are going to just trickle in for the most part! Now that we know that and now that your campaign is already live and you can’t really do anything to correct that in advance so let’s maybe start with Facebook ads. You need to start split testing ads starting off very cheap. Run your ads for conversion. Run these ads at several different audiences and every single day go ahead and check your ads to see which audience is performing. Check these ads to see which one is resulting in more backers and these start eliminating some of the other audiences. Now I’m talking about a massive amount of target audiences. You typically want 12, 24, 30 different audiences and then slowly start minimizing them down each day probably multiple days because you are already live. Once you get that down to 4 or 5 that’s when you start throwing big money at it. Now for people planning your Crowdfunding campaign; to avoid the slump. You need to be doing that now! You need to start finding out your target audience and start eliminating those ads so that way when you go live and you hit that middle campaign slump; You will already know who to throw the money at. That way you can boost those ads even more because you already know that audience performs because you were running those ads before you launched your campaign.
Q2: How can authors maximize crowdfunding?
A: Authors kind of have an unfair advantage because you’re kind of used to Crowdfunding. You have to push your book and pre-sale so your kind of used to asking for money, your comfortable asking somebody to purchase your product. So it’s not a problem to go up in front of a camera and make a video. So I recommend you do just that. Make a Crowdfunding video, create your campaign, and tell a story with that video. If you can get a trailer made for your upcoming book to kind of explain what it is with some nice graphics or some nice animation; that would be a great way to start. Just remember this whole Crowdfunding campaign your trying to run depends on the story that you’re trying to tell and that same story you’re trying to tell is going to be the story that your selling whenever it comes to media or press. You tell them that story. You get them involved. You’re a story teller. Don’t tell lies! Tell stories. That way people are more intrigued, more inclined to get sucked into your campaign, to the story of your campaign, the story of you, or the story that you are telling.
Q3: Do I have to have a video for my crowdfunding campaign? If so, what is the typical budget I would need?
A: Yes! Absolutely! I don’t care how long it is. Your video has to tell some type of story. Make sure you’re telling a story whether it’s with a phone, camera, video recorder in your home. Use something where you can edit your videos such as Final Cut, Windows Movie Maker or whatever software you have on any of these devices so you can edit your videos or portray your video in any which way you want it to be told. So yes, it’s imperative to have a video because 99 percent of backers are not going to look at your campaign if you have just one picture on the front and there’s no video attached. It will come across that you didn’t take the time or effort to put your campaign together properly. They might think this is not a real campaign. As far as budget go’s; Now that is completely up to you. You can record a video with a smart phone or use free video editing software. If you want to go another route you can pay for one. I know podcast movement from last year; they funded their event and they spent a total of $300 dollars on Elance to find an animator who could make them a clip art or a video that was a minute and a half long. So there’s an idea of a budget. $ 300 dollars for somebody online who can make you a animated video of what your trying to do or what the story it is you’re trying to tell. You have to write the script. You probably have to plot it out and tell them exactly what you want. So that’s exactly what you should be now is figuring out exactly what it is you want in your video especially if you’re going the animated $ 300 dollar route.
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