No… Seriously, Why should I Hire a Campaign Manager?
Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet. Crowdfunding is at its core pure marketing, more specifically digital marketing and social media, tied to an accounting function usually a website called a portal.
The driving force behind Crowdfunding is how your project or business is going to impact the world. Crowdfunding focuses on a larger purpose and the brand or creator will, through social media create a unique community of like minded people to market, fund, and promote the brand or project.
Crowdfunding campaigns have a very predictable pattern of funding. Most successful campaigns receive about 30-40 percent of their funding from their “Inner Circle” which is family, friends, co-workers, and anyone connected to the creator or founder. The second and third tier connections are the connections to the “Inner Circle” and once this 30-40 percent is reach the campaign has gained traction, and this is where the social media begins to become a major driver in the funding of the 60-70 percent to reach the stated goal.
There is a period that precedes the live launch called the pre-launch where the project manager, the creator, the founder, or a professional management and marketing company, develop the necessary strategic plans to guide the campaign. This pre-launch period is vital to the success of a campaign. This is where you develop your “Inner Circle” begin your social media outreach, determine who the influencers in your field are and reach out to them to develop relationships. This period can last anywhere from 3-6 months depending on the variables involved.
The launch period is typically 30-45 day, I like 30 day it provides a sense of urgency for the campaign. I like to have a live event to kick off the campaign going live. We already have our 30-45 percent of funding to be received the moment the campaign goes live because we have been working our “Inner Circle” for the last 3-6 months. Day one the campaign has traction and the social media and email campaigns begin to reap dividends and the campaign is off and running.
The live campaign needs constant management for the comments, social media, emails, and updates. The day-to-day interactions of a live campaign must be handled. There are going to be inquiries about the campaign, the product/service, updating visuals such as photos and videos. The campaign ends successfully and the real work begins fulfilling your obligations to your funders and growing your crowd. The next post will be about the process of fulfillment.