CrowdFund Genius Live: Episode 2, Live Crowdfunding Q&A

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ZacBob answers questions from around Twitter on CrowdFund Genius Live! Every Friday 8PM CST on Meerkat & Periscope. Ask your questions to @CrowdFund Genius on Twitter. 

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Q1: @PrinceofTHUNDER asks How can someone create successful #crowdfunding campaigns on their own site? I have studied CF.

A: I would recommend you use Open.tilt.com. They offer a service were you can set up your own crowdfunding campaign on your own word press page or your own website.

As far as my question for you though. Why? Why would you want to do it on another website when you have Kickstarter that receives millions of views every single month? You have Indiegogo with an emil list of 15 million or more outlets and resources at your disposal. I personally don’t like the idea of running a campaign on your own site because your not going to get access to those extra backers, crowdfunding communities that wraps around you that can help you share and promote your campaign with cross promotion. I wouldn’t recommend you running it on your own word press site! You do have that option if you choose to if you already have an email list, the backing, and you don’t want to give up 7.5% that you give up to Kickstarter or Indiegogo. If you still want to do that the by all means run it on your own campaign.

Q2: @thedanholmes asks, Can you have too many rewards for a campaign?

A: Yes! Yes you can have too many rewards for a campaign! When I go to back a campaign and find something interesting; I go down through and start reviewing the rewards naturally like everybody does. The first reward that you see on a campaign is typically your 1 dollar rewards, your 5 dollar rewards, or just a tweet simpily saying thank you. Generally speaking after that you’ll typically have your 20 dollar rewards or a t-shirt (Which I don’t recommend might I add ). After that you have your package or the product that you’re selling. This is what your rewards should be focusing on. You should have 3 to 5 rewards at the least, and up to 5 to 7 rewards at the most. You can get up to 12 rewards but be sure to have a info graphic that showcases each reward. You don’t want to keep repeating yourself on every reward level. If you have too many rewards a backer might get buyers remorse after reviewing so many rewards and just bail out. Don’t overload your page and try to keep it simple at best!

Q3: @MyBranto asks, How can I boost my crowdfunding campaign so the world learned about our amazing product?

A:  First assuming you have money for paid adds and next after that assuming you don’t have money for paid adds. The best place to go if you have money for paid adds is Facebook. Utilizing Facebook you can have multiple adds and multiple tiers. Create 4 adds, 4 different audiences, and niche them down to 10 – 20 thousand people an audience. Then from there start running your campaign adds at it. After the first day sit down and go over it figuring out which add is not performing. When you figure out which one is not performing; go ahead and eliminate it. Start throwing that money at the other three adds that are performing. You’re going to repeat this process until you get it down to one add. If you get it down to two and they are both performing very well the stick with it and keep it at two. Make sure you target 4 different target audiences when running your Facebook add. As far as for the free approach if you don’t have money to throw at adds; I would recommend going with cross promotion by contacting other campaigns. You should have built a list already of other campaigns. Start building your list immediately and start contacting them for cross promotions purposes. Cross share your updates as well as their updates! Whenever you post an update; make sure you mention their campaign or that they are a friend of yours. Eventually when they post on their campaign and make an update they will mention you as well!

 

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