It seems like every new startup is trying to get their foot in the door through a successful crowdfunding campaigns. You hear so many success stories that it's nearly impossible not to try it. But everyone is not successful.
There is an entire playbook at your fingertips that will help you understand exactly why your kick-start campaign failed and how to do it right next time.
Unproven Marketing Strategies
There isn't a single crowdfunding campaign that fails due to the lack of confidence. In fact, overconfidence is the leading factor in an unsuccessful campaign.
You believe in your ideas, and you want to be original. There's nothing wrong with striving for innovation, but most entrepreneurs lose a vital connection with customers through their lack of marketing efforts. Sucessful Kickstarter campaigns are successful usually because of their marketing prowess.
A majority of crowdfunding projects fail because brands try to create their advertising methods from scratch.
Even perfect products require an expert understanding of advertising to make an impact. Coming up with ad copy on your own is a losing game that the average business owner can never win.
Don't count on your expertise as an entrepreneur to turn you into a marketing genius overnight.
Instead, you should turn your attention to emulating what you know is already working for similar brands. If you want to take on this monumental task of market research, then it's going to completely revolve around building upon the strategies that have already proven to be successful.
Do yourself a favor by discovering the five best competitors in your industry to draw inspiration from them.
Most importantly, use your newfound knowledge to outsource your ad copy to a professional that's able to deliver quality results. After all, you're an amazing innovator with a strong mind for business.
However, that doesn't make you a marketer. You should always know when to pass the job off to the qualified hands of someone who already knows the ropes of catching everyone's attention.
Great Ideas Don't Sink or Swim on Their Own
You might have the greatest product in the world, but it's not going to succeed on merit alone. Get rid of unrealistic expectations.
If you want to throw together a landing page on your own, then it will be statistically doomed to fail. You need to get the idea out of your head that a few paragraphs touting how you feel about the product will convince customers to buy it.
Belief in your brand is essential to motivate you forward, but you need to keep in mind that you are not the target customer. If everyone felt the same way about your idea as you do, then you'd be a millionaire.
The hard truth is that your perspective won't always translate the same to others.
The best thing you can do is bounce ideas around by outsourcing outside of your team.
Start your campaign with several different approaches to see where your target demographics respond most effectively.
Create multiple landing pages and email campaigns to fine-tune your marketing approach along the way.
Successful campaigns always happen on purpose, and it's all based on repeatable results that can be scaled up. Once you've proven that you can persuade buyer-interest, then you'll have a direction to move towards.
You'll get nowhere by throwing up a glorified product description, and hoping for the best.
It's Not the Fault of the Product, So Don't Take It Personally
Take a minute to think about all the obviously bad products that still make their mark.
You'll find countless dozens just by doing a quick search on the infomercial industry. Just browse through the trending crowdfunding projects online to see how gullible people can be.
It's easy to see that quality doesn't always equal sales. Don't discount your product based on a failed kick-start.
The best part about coming to this realization is that you can leave behind your fears of second-guessing your product's validity.
Accept the responsibility of the mistakes that you've made to learn from them.
There are a thousand ways to do something wrong, but you only need to figure out one way to do it right.
Stand by your brand by constantly examining your own mistakes from an unattached point of view. Don't let your own bias get in the way of your business.
Conclusion: Avoid Kickstarter Campaign Fail
Crowdfunding campaigns fail for the same reason that any marketing campaign fails in the online business scene.
There wasn't enough exposure, or your advertising efforts just didn't connect with your target audience.
Take a step back by outsourcing to a professional marketing team, and learn enough about your market through research to determine the right fit for your brand.
Above all else, avoid micro-managing your campaign to suit your likes and dislikes.
Let every decision be based on proven results, and you're sure to see an improvement in your next Kickstarter campaign.
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