Most crowdfunding creators see their crowdfunding launch as a one-and-done effort. They spend weeks or months preparing their marketing strategies, run a 30-60 day live campaign, and then shut down orders or shift to Indiegogo InDemand to continue raising funds.
Many creators are also well aware that the majority of their funds are likely raised in the first few days and last few days of their campaign. The mid-campaign slump often sees funding slow down, as the excitement of launch day is lost and the urgency of the campaign end hasn’t yet arrived.
What if you could recreate launch day excitement and campaign end urgency over and over again, even once your primary campaign period is over?
This is the strategy Russell Marketing employed for Shine Turbine during their time in Indiegogo InDemand. Three campaigns to three different geographic markets meant that Shine enjoyed not just one huge launch day, but four (including their first, primary campaign), resulting in an additional $654,820 CAD in funding.
The most successful crowdfunding campaigns tend to follow the same three key phases:
When campaigns move into Indiegogo InDemand, it’s usually an extension of the third phase, the live sales launch period.
Russell Marketing did something different with Shine. After validating that Shine’s product offer resonated with their target audience, Russell proposed a rinse-and-repeat strategy where Shine would cycle through phases 2 and 3 over and over, launching to a new geography each time.
Guaranteeing BIG Launch Days
Urgency and excitement play crucial roles in launches. The sense of urgency creates a time-sensitive atmosphere, compelling potential backers to take immediate action.
Meanwhile, excitement generates an emotional connection between the project and the audience. It captivates their interest and motivates them to become part of something special.
Together, urgency and excitement create a dynamic environment that boosts engagement, increases funding momentum, and enhances the chances of a successful launch.
Two strategies Russell employed with Shine that enhanced both of these critical pieces were launch day incentives and a VIP community.
- For each launch, Shine ensured that their perks were set up so that people were incentivized to act quickly, on day one of the new launch period. This can be done by providing a bigger discount to those who act fast or through adding more value, such as a bonus accessory.
- A VIP community, such as a Facebook Group, allows excitement to spread among community members more quickly. An email marketing strategy is solely a conversation between the creators and an individual subscriber. In an environment like a Facebook Group, members can interact with each other AND the creators, boosting engagement andFOMO (fear of missing out) while creating a snowball effect.
Of course, a big part of what makes a campaign successful is the essential support the team at Indiegogo provides, such as expert guidance and newsletter promotion.
Russell Marketing worked with the Indiegogo team to promote the Shine InDemand campaign via Indiegogo Drops, a promotional strategy that leverages time-bound perks to ignite an irresistible sense of urgency among the Indiegogo community.
Drops is only available to campaigns that are ready to ship, so it was a promotional strategy available to Shine only with their final launch push. The response from the Indiegogo Drops community was fantastic, though, with Shine generating an additional $42,312 CAD from this single email promotion.
A Better ROI With Every Launch
One of the most valuable aspects of a rinse-and-repeat strategy like this is the credibility and social proof that comes with each new launch.
Credibility (the trust a prospective buyer has in you and your company) and social proof (the confidence a prospective buyer gets from seeing others make a purchasing decision) are two challenges most crowdfunding creators face. After all, if you’re a new brand with a new product, you’re extremely limited in both. This affects conversion rates and ROI.
By transitioning from a one-off launch to a multi-launch strategy, Shine was able to create more credibility and social proof than a regular campaign. The more launches they did, the more credibility and social proof they acquired, and the more successful they were.
Whether a creator is excited for just one launch or is intrigued by a rinse-and-repeat strategy like this one, working with an expert team like Russell can play a huge part in a campaign’s success.
Learn more about Russell Marketing on the Indiegogo Experts Directory here.