3 Strategies to Pull Your Crowdfunding Campaign Out of a Slump
Worried your crowdfunding campaign is in a slump? Worry no more! We’ve got you covered with this article.
Sometimes, all it takes to pull your campaign back into focus is a targeted strategy.
By employing one or all of the following techniques, you can start the process of re-invigorating your campaign:
- Ask your closest supporters to participate as team fundraisers.
- Send personalized text messages to your closest friends and family.
- Post an update to stir up interest.
If you scroll down (or click), you’ll see that we’re investigating and explaining each of these strategies individually.
Before we get there though, it’s important to recognize that you’ll need more than just these three tips to drum up interest in your campaign.
Your campaign has to be well-designed and thoughtfully curated if you want a chance to succeed.
If you fear your campaign isn’t quite meeting expectations yet, that’s okay! Take a look at our long list of crowdfunding tips to figure out where your campaign might come up short and how to remedy any issues.
Then, once you’re confident that your campaign is positioned for growth, employ the strategies below.
Have you encouraged your avid supporters to fundraise on your behalf? Did you know that was an option?
In Fundly’s platform, it’s referred to as team fundraising, but the process has many names, most commonly peer-to-peer (P2P) fundraising.
As we explain in our collection of P2P benefits, “Peer-to-peer fundraising, sometimes called team or social fundraising, is a highly lucrative practice that empowers individual supporters to act on the organizer’s behalf…Peer-to-peer is used by nonprofits of all sizes and even individuals running their own crowdfunding campaigns.”
In other words, with team fundraising, you ask loyal supporters to run their own mini fundraisers that feed back into your campaign’s total.
It’s a way to diversify your network and expand your reach.
How you set up peer-to-peer fundraising will range from crowdfunding platform to crowdfunding platform, but with Fundly, you simply need to:
- Log in to your account.
- Click on “Settings.”
- Select “Teams.”
- Follow the instructions.
Of course, the process will vary from platform to platform, but one constant will remain. You have to recruit and train your peer-to-peer fundraisers in order to reap the benefits of the campaign model.
Take the time to carefully ask for help and educate your supporters about fundraising best practices. You’ll be glad you did!
Main takeaway: By employing team fundraising, you multiply your odds of raising money and reaching your goal, all while acquiring new contacts.
Given the prevalence of smartphones and texting, there’s a good chance that you text frequently and that many of your supporters do as well. Take advantage of texting as a promotional channel!
- It’s convenient.
- It’s free (in most cases).
- It’s fast.
- It’s personalized.
- It’s engaging.
Ask yourself how long you usually let an email go unanswered. Now, ask yourself how long you let a text go unanswered.
Was the text time-frame shorter? If you said yes, you’re not alone. It’s true for most people.
By sending 15-20 custom texts to close supporters (think friends and family) asking for donations, you’re significantly increasing the chance that those folks will read your request and take action.
Within each text, make sure to include the following:
- A brief explanation of what you need help with.
- A link to your campaign.
- A direct and clear ask for funding.
Be succinct and be genuine. Your prospective donors will appreciate the transparency.
Main takeaway: Sending a text takes matters into your own hands and ensures that you are directly reaching the people you need to help you.
Updates are paramount to a campaign’s success, so much so that we have an entire article dedicated to crafting and perfecting your campaign updates.
As the article explains, “Posting crowdfunding updates is one of the most important parts of running a crowdfunding campaign. Without updates, your donors and future supporters don’t know what the status of your fundraiser is or how you’re coming along with your goals.”
Updating is especially important when you’re in a slump because it is a built-in practice to drum up campaign attention.
You can’t expect people to be actively following your campaign and engaging with it if you’re not keeping them in the loop!
Make sure you’re following our five golden rules of crowdfunding updates with your own campaign. The rules are:
- Post crowdfunding updates on a weekly basis. “Out of sight, out of mind” is all too true when it comes to crowdfunding campaigns. Keep your efforts front of mind with weekly updates.
- Include photos and videos in your updates. When possible, include photos and videos because they add a layer of interest to your update and can increase engagement.
- Thank your current supporters. Always leave room in your updates to show a little gratitude. Stewarding existing donors is important for your campaign’s future, too!
- Link your updates to your social media accounts. Don’t assume that your supporters are checking your account regularly. Bring the updates to them; don’t ask supporters to come to you.
- Ask questions and encourage discourse. Your updates should start a conversation. Think of them as a prompt to spark a dialogue among your campaign’s entire community.
By accounting for all five rules in your own updates, you’ll be in great shape!
Main takeaway: Donors won’t give to a campaign that they’ve forgotten about, so keep your campaign fresh in their minds.
Just because your campaign is in a slump, it doesn’t mean it has to stay there. With focus, tenacity, and a little bit of luck, you can steer your crowdfunding fundraiser back on track and still manage to meet your goal.
So, the next time you’re worried that attention to your campaign is fading, try out one of the three “slump prevention” strategies explained above.
If you want to continue to learn about perfecting your crowdfunding campaign and related fundraising strategies, check out this list of additional resources:
- Peer-to-Peer Fundraising: A Nonprofit’s Guide — As we advised in strategy one, peer-to-peer fundraising can give you campaign a big boost. Check out our guide to learn all you need to know.
- Crowdfunding 101: Raising Money and Awareness Online — In case you want to go back to the basics and get a complete refresher on the entire crowdfunding process, we have you covered with this helpful guide!
- 5 Strategies to Keep Your Crowdfunding Momentum Going — Think of this article as the sister resource to what you just read. In this piece all about crowdfunding momentum, you’ll learn how to keep steady interest in your campaign instead of having to retroactively re-develop that momentum.