How to Choose the Right Idea for Crowdfunding

Story is King:  Your editorial Strategy - 

Now that you’ve made your project main points, I’m going to show you how to make them work for you.  The key in any maketing campaign, be it on social media, email, ads, or content, depends on one thing: becoming lazed-focused on the exact part of your story you are telling.  Before I explain what that looks like, I’m going to share what is the opposite - The opposite of an editorial strategy is selling the same idea the same way again and again.  So and so is the first ever dot dot dot, buy now, again and again.  Many project creators choose only one selling point and they hammer it again and again the same way, this becomes excruciatingly boring for your followers.  What they want is an interesting tidbit here and there, and for them to feel like they are getting to know different aspects of your life.  Think of dating - do you tell your same life stories on multiple dates? NO!  You gradually share more about yourself through a variety of life stories, and this helps your date know who you are.  So when you are crafting an editorial strategy, focus on variety.  Now before I share about how variety plays into your editorial strategy, its important to see where and how this is used.

 

The editorial strategy has a final output of:

-Email newsletters

-Blog content posted to the internet

-Content posted to forums and online communities

-Posts on Social Media

-Updates to your Backers

-Personal emails asking for support.   

 

 

You can use a story based on the same message, story, and detail, a maximum of once per channel.  So, as an example, if I wanted to choose a tidbit about my background and to use that for a story about how I came up with the idea for my project, I’d be able to share that same story once on each channel, usually at the same time.  The gist: you choose on little part of your compelling project story, then convert that into a newsletter, a facebook post, a direct email, a blog, and an update, and you publish them all around the same time.  This way you have a unified front across all your marketing channels,a nd you make sure that your followers see this about you no matter what channel they follow you on.

 

Okay, now, how do you actually do it?  Well, this is where your Main Points document comes in handy.  You’ve done the intake questions and transcribed the live interview, and selected and organized the “golden bits” of your sales pitch under these five headings:  Issue, Features, Insights, Background, Future, and Call to Action.  The way you build a editorial component it you first ask: 1) Which heading am I writing from?  then you ask 2) Which single statement and or phrase is the foundation of this post?  

 

So, if for instance you decide that you are writing about “features” and you product “folds up smaller than a wallet” , then you choose that single feature “ folds up smaller than a wallet” to base your post / newsletter on.  You can go ahead and go into more detail about it - why this was important to you, where you are at with folding size, how you see it being valuable for customers, the engineering steps you went through to achieve that feature, etc.  After you’ve written a several paragraph article about this point that you chose, then you can adapt it for social media, for newsletters.  Turn it into 160 characters for twitter.  Use the whole thing for newsletters and your blog.  Make it half the size for a facebook post. Make sense?

 

An editorial strategy the completed set of articles, in their various formats (social posts, newsletters, blogs, and updates.  We recommend to prep at least a handful of these before you go live.  Your assignment is to choose 12 (one dozen) single phrases or sentences and to turn them into this variety of articles.  Use a google doc to keep organized.  When you are done with your editorial strategy, and have twelve “marketing ideas” that will go into either your newsletter or your social media or your project update, then post your document to the facebook group.  

 

So go ahead, and lay out your editorial strategy, and start creating a whole bunch of interesting story based content for your followers to gradually receive both before and during your launch.  Good luck!  

 

 

 

 

The three must have money conversaions:

 

Here are the conversations that really change everything.  These happen in person, over text and phone, via email, and via direct message on services like facebook and linked in.  They are similar to the email templates we gave you in the friends and family outreach strategy, but they will be different based on what strategy you use: some people you are used to texting regularly, but rarely email.  Other people you see in person but rarely call - use the communication strategy that is most similar to your prior relationship with that person for best results.

 

The first conversation is about building social capital: it’s called “Hi how are you”.  You reach out and genuinely connect with someone.  This increases your warm relaionships quality and will help them know that you care.  And someone feeling like you care about them is more important than anything down the line.

 

The second conversation is about leveraging social capital: it’s called “Can you help”.  You either send your landing page or your project preview page or your draft video to someone, and you ask for feedback.  The world is full of people who have so much to give, and this stage lets you give them an opportunity to do this tremendous thing that everyone want to do, called giving advice.  It makes people feel loved and validated when you ask them their advice.

 

The third conversation is about converting social capital to working capital. it’s called “can I count on you”.  You tell someone you are launching soon and present to them a simple yes or no question.  When they respond with a yes, you’ve just done the final step to actually make money from them!

 

These conversations are the blood builders of every successful campaign.  I’ve had campaigns with mailing lists of hundreds of thousands of people that didn’t do this, and they struggled to make five thousand dollars.  And I’ve had people with almost no netwrok, jus the 600 family and friends and coworkers they’ve met in their life.  And doing this conversation netted them ten thousand dollars easily. It really makes that much of a difference.

 

Your editorial strategy will convert people who don’t know you yet or who are just subscribing to you on social media, landing pages, and forums.  But for your existing list of contacts, the three conversations are the best way to ensure compliance when you go live.

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Social Media Etiquitte:

There are a million ways to to improve your position on Social media using your editorial strategy.  But there is one way to ruin it:  Begging and making yourself desperate and small.  When you are posting on a public forum, or on social media, your sense of excitement means the world.  Try everything you can to avoid being desperate and using phrases like “please help” or “we need your support” - focus on the features and benefits of joining, and how your project solves a specific problem that people can relate to.  If you are less than 70% funded, avoid mentioning your number at all.  Just say “I’m so excited for how far we’ve come, click the link to check out the latest stats.”   Remember that focus on being attractive, insightful, and deep, with lots of variety offering unique insights from your editorial strategy.  and the only call to action is “check out the stats” “visit our page to learn more”  “join our community”  “be the first” - stay positive and your followers will stay with you. One reason for this is that over half your audience has the personality to wait to the last minute with everything, and you can’t assume that someone won’t pledge even if theres only 48 hours remaining, because a huge set of your backers tend to show up only at the last moment - it’s just how their brain works.  Keeping them interested in and feeling connected to you, rather than drained from seeing you begging all the time, is the best way for them to feel good about helping when the time is right. 

Now I want to discuss post types, because since Facebook and twitter are graph based platforms, it means that certain posts perform better than others.  We recommend having a link in your post only 25% of the time - because link posts are traditionally the lowest performing.  Instead, create mostly image / photo posts with text, or text only status updates, and put the link to your KickStarter as a comment.  The posts that are not link posts will generate 2-5x more visibility for your social media, because they are no downgrading you for being too self promotional.

 

Finally, regarding tags: you are welcome to tag a small handful of your friends WHO ARE DIRECTLY RELATED TO THE POST SUBJECT: i.e. if you are discussing an engineering / design component, you can tag your engineer friends.  If you are chatting about benefits, you can tag someone who tried your project beta and who has actual experience with the benefits.  If you are telling a background story, you can tag the friends where there during that mite of your life you are describing.  Tags are a great tool for getting “likes” IF they are relevant to the person tagged.  We’ll talk more about how to use social media for your existing backers in a later lesson, but I hope these ideas have helped shape how you conduct yourself on social media.

 

 

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