Community: The Key to Crowdfunding Success

Building and nurturing a community is crucial for a successful crowdfunding campaign.

Tom Wu

July 12, 2023

The community that you build around your crowdfunding campaign is the most important resource that you have. This is because when running a crowdfunding project, you are going to be targeting a community that is already looking to become early adopters. These people are the ideal market to begin with for the initial fundraise of the project

Building and nurturing a community

To have a successful crowdfunding campaign, you need to build and nurture a community. Community is the backbone of crowdfunding. Your backers know that they’re making an investment, not a cut-and-dried purchase. They’re backing your campaign for the experience as much as they are for the product. They want to share in your enthusiasm when things go well. They expect to be kept up-to-date about the process even when things go awry. Your backers expect frequent communication from you, and the way you choose to interact with and nurture them will be the difference between whether your campaign helps you launch a company with a group of dedicated followers… or whether you fail.

Crowdfunding is not ecommerce

It’s important to understand that crowdfunding isn’t ecommerce, and that backers are not traditional buyers. The audience that finds crowdfunding attractive is made up of people excited about being an early adopter. They like being the first people to have new things, and they’re willing to put their money behind worthwhile ideas. They’re taking a risk by supporting campaigns that they like, knowing that it’s an investment that doesn’t always pay off.

Building your community before launch

You should be building your community through email and on Facebook before you launch. Part of that community will back your campaign and be active in the comments on your campaign page. This gives you a great chance to interact with your backers and with people who haven’t yet become backers. It also gives you the chance to control the narrative if something negative comes up in a public space.

Steering negative interactions

Most of the comments and questions you get will be positive or neutral; occasionally, though, you may have a negative interaction with a backer. You can’t control what other people say, but a savvy campaigner can steer the conversation when something goes wrong. This means being present and staying active in the comments on your campaign page and in your Facebook group; you also need to respond quickly when someone posts. Offer rewards for backers who support your campaign.

The importance of transparency

Transparency is key when it comes to building and nurturing a community. Your backers want to know what’s going on behind the scenes. They want to know that you’re working hard to make your project a success. They want to know that you’re being honest with them about any setbacks or delays. By being transparent with your backers, you’ll build trust and loyalty within your community.

In conclusion, Your community is the make-or-break resource for your crowdfunding campaign. Growing and nurturing it will make the difference between success and failure,building and nurturing a community is essential for a successful crowdfunding campaign. Backers are early adopters who expect frequent communication and transparency from the campaigner. Building a community before launching and steering negative interactions can help control the narrative and build trust and loyalty within the community. By being transparent and responsive, campaigners can launch a campaign with a group of dedicated followers.