There could be two main reasons why you are choosing to re-launch your crowdfunding campaign; the first could be that your campaign just narrowly missed its goal.
This happens to a lot of campaigns and because most crowdfunding endeavors are ‘all or nothing’ deals, a lot of the campaigns fail. It could be simply that your target was too high, or that you just could not generate the number of followers you have forecasted. Another reason could be that the product you were campaigning for didn’t do well in it’s first time but since then you have worked extensively on it, making it better, creating curiosity among the niche audiences, indulging in R&D and networking. These factors could have been limiting you, the first time around. And now you are back with these factors take care of.
Planning crowdfunding campaigns can get tedious, but re-launching one is more stressful, if you can believe it. If you happen to be planning to re-launch your campaign, you should, by now, have a basic idea of what should or should not work. This is because your first campaigns and their failure have given you a key to succeed: you are now armed with valuable feedback. Even if it came from the unlikeliest of places or not what you were looking for, it will help your second round of attempts at raising much-needed funds. And even if you have learnt from your mistakes and ill judgments, a lot can be on the line for you and your business. So before you go right ahead with the re-launch, do have a read at these valuable tips we have gathered just for you which will help you strategize on your re-launch plans.
RECONNECT WITH PREVIOUS BACKERS
Yes, your previous campaign may have failed, but you were able to get in touch with some genuine backers who believed in your project and product. Before work starts, get in touch with those people/group/organizations and reach out to them with the latest updates. Getting in touch with them personally or via email and let them know about your re-launch plans. Keep the communication interesting to hold their interest to make them your first backers of your campaign.
OFFER PERKS AND DEALS EXCLUSIVE TO PREVIOUS BACKERS
In order to convince the previous backers into backing your project again, try to offer them some exclusive perks, which will make them feel special. These could be early bird or even add-on perks which will help you convert them from potential backers to brand ambassadors and influencers.
REVIEW COMMENTS FROM PREVIOUS CAMPAIGN’S PAGE
The comments left on your previous campaign’s homepage can be a valuable source of advice and feedback. Your backers may have had some great ideas, which they might have communicated via this medium. If they had asked any questions to you, work to answer them though your campaign and improve on them.
KEEPING UP WITH THE SOCIAL MEDIA ACTIVITIES
Between your first campaign and the subsequent re-launch, it is crucial that you maintain your online presence. This should involve around 2-5 posts per week, which lets your followers known about the re-launch. This should help you garner interest and grab the attention of potential backers to direct them to the campaign as soon as you launch it.
USE SOCIAL MEDIA ADS TO SPREAD THE WORD
When designing digital ads, use split tests. That would allow you to change and adjust many variables such as images, headline or videos for certain target groups. A split test helps you understand what content is most engaging for which target audience. And with this knowledge, you can create ads to grab the attention of the most suitable audiences for more exposure.
PREPARE AN UPDATED PRESS RELEASE WITH NEW CONTENT
Don’t just rehash the old press release, create a new one as soon as you re-launch. Get in touch with your press contacts and always send out the release on time, without any delays. This (often free) PR is great for your campaign and project and you should milk it for all that you can. The content should talk about the previously failed campaign and how the re-launched product is better that the old one.
Now go ahead and re-launch your successful project and give it your best shot!