Crowdfunding has caused a paradigm shift in the way startups and creative projects are marketed and funded. Social media has taken center stage in the drive to build an excited and engaged crowd that will fund a crowdfunding campaign in a very short amount of time typically between 3-6 months of the pre-launch period. Sometimes managing customer expectations can be a really difficult task. Customers want to grow their social media targeted and organically form 8 followers to 15,000 in two weeks. How do we approach this issue? We begin the process of PR.
The Public Relations (PR) field has been radically transformed by the rapid and innovative growth of the Internet, social media and the latest interloper crowdfunding. The fact all marketing must now move at the speed of Internet requires a different emphasis for the PR field. It is crystal clear that PR in relationship to the crowdfunding industry is all about reaching influencers such as bloggers, podcasters, and journalists to assist with the promotion of the crowdfunding campaign.
Strategic PR for Crowdfunding
The role of PR in a crowdfunding campaign must be in the context of the overall marketing and Crowdfunding strategy and not seen as a stand alone component of the campaign. This means we have to make PR make sense in the context of the overall campaign strategy. We begin our outreach by tapping the “Inner Circle” and trying to raise the needed 30% to build momentum early in the campaign.
We look to implement the PR/Media Relations plan in the middle of the campaign when you normally see a lull in the campaign funding cycle. By this time if the plan is being implemented on objectives are being met we have developed some traction and the campaign has legs to stand on.
Implementing the Targeted PR
By this point we have develop a database of bloggers, influencers, podcasters, and journalist, so you have a list of targeted media and now you are ready to integrate your media outreach to a campaign that has demonstrated proof of concept and market validation. There is now a story to write about and the media will be glad to pick up on it and help push it forward.
Your media outreach/PR plan should fit into the overall crowdfunding strategic plan and the marketing plan to complete the campaign objectives. The outreach must be targeted to the people that are industry influencers and have an interest in your campaign’s product or project. The timing of the implementing is vital make sure the campaign has traction before launching into this part of the plan.