Getting started with BoostR
7 steps to get your campaign ready for launch
Ready to start your campaign?
7 steps to get your campaign ready for launch
Start with the right support system
Entrepreneurs were built to weather the storm. But you don’t have to do it alone. Identifying your support system is the first step to launching your relief crowdfunding campaign.
Tip: Write down the members of your support system as part of your plan and activate it when you need to (both to celebrate the wins and weather the slumps).
Any type of crowdfunding campaign can be a rollercoaster—especially one that’s about the survival of your business or helping others. So, it’s important to identify those friends and family members that you can count on, in good times and bad.
You also have a great support system through ATB BoostR. We’re here to help as you set up, launch and find boosters.
Setting a funding goal is a key ingredient to staying focused
As you determine your funding goal, think about what you really need. Are you pivoting to an online platform for selling goods and services? Have you found a way to help those on the front line directly dealing with the health crisis?
Tip: Crunch the numbers—decide on a timeframe (as best as you can), set a goal and write it down.
Every business needs more cash right now, but knowing exactly how you’ll spend that cash is important to share with your boosters. If you have a specific goal in mind—like paying rent, paying your employees, purchasing supplies, moving inventory or collecting donations—for a specific period of time (say, 3 months), you can predict how much cash you might need to keep your business afloat.
Don’t be intimidated by setting a goal, even during COVID-19. It allows you to be focused on your business needs and your goal.
When choosing funding targets, here are things to keep in mind:
- What is the main purpose of your campaign?
- What are all the costs involved with keeping your business afloat (labour, supplies, etc)?
- How much will your rewards cost you or how much will it cost to move the inventory you have on hand (don’t forget to factor in things like delivery costs, etc.)?
Finding and sharing your message with the right people at the right time
Crowdfunding is all about marketing and sharing your message with the right people, at the right time. And for that, you need to know who your audience is.
Tip: Build your entire campaign around your target audience. Determine what problem you’re solving for them, or how your business connects to what they care about most.
Your target audience is out there and may even be engaging with you already. To identify them, start with the problem that your product or service solves. During this crisis, Albertans are rallying behind small businesses, especially those they feel connected to. So identify those that connect with your story.
Once you know who you’re trying to connect with, you can start marketing your brand’s message. And, believe it or not, email marketing is your best bet. Although social media is powerful, consumers are in a different mindset when they are actively checking their email inboxes from when they are passively scrolling through their Instagram feeds. You’ll want to focus on email marketing, and the sooner you start collecting email addresses for your email list, the sooner you can send out engaging content. You should also think about your social media marketing strategy and find a balance between the two.
Sharing your story to connect with your crowd
Right now, your story matters more than ever, because it helps your crowd feel connected to your purpose or your brand. It shows your audience the passion and the purpose behind what you’re doing and why you’re doing it and gets your audience on board.
Tip: Keep your story authentic and real to you, and what your business is going through right now. Write it down and refer back to it as you market your campaign.
There are several ways to tell your story—but all of them should explain the problem your business exists to solve, and how you are solving it right now. It’s not easy to open yourself up to strangers or family members, especially now, but getting valuable input from others will only make your story stronger.
Create a video for your campaign
The next step in launching your campaign will be shooting a video –which is optional for BoostR, but is highly recommended. IiYour video doesn’t have to be perfect, so just go with the flow and use the resources that you have access to, like your own smartphone. This is your opportunity to introduce yourself to potential boosters, and inspire people to support you.
Tip: Explain how COVID-19 is impacting your business and how the funds will help. Do some planning before shooting and consider lighting, sound quality, framing/angle, music and wardrobe.
You want the video to be brief (2-3 minutes) so viewers stay engaged, but make sure you tell them enough about your business that they know what you do, how COVID-19 is impacting you, the benefits you provide and where you were pre-COVID.
Crowdfunding campaigns that include videos consistently perform better than those that don’t contain videos, because they show people who you are, what you’re about and why you’re doing what you do.
Determine the rewards you’ll offer your boosters of your campaign
Every business has something unique to offer, but the key is identifying who your supporters are,what they want and how much they’re willing to pay. If you’re targeting different segments, it’s probably worth offering different rewards at different price points, and perhaps even bundling two options into one reward. You might sell more rewards around the $25 mark, which is quite common for ATB BoostR campaigns, but you might earn more total revenue on items that you offer at a higher price point and sell fewer of.
Tip: Consider offering a reward now and a reward later as one reward. For example, a retail store could offer an item now and a $50 gift card to use when they re-open, a strategy that will bring customers back to your business when you open post-COVID.
It’s essential that you are generating revenue through your campaign, so offer price points that are reasonable, but still allow healthy margins in reaching your funding goal. And don’t forget to factor in estimated shipping costs and the time you will spend preparing all your rewards and sending them out.
If you’re able to offer intangible rewards that can be sent digitally, such as e-gift cards, you will save a lot of time and reduce shipping costs.
A handy checklist to make sure you have all the pieces in place to launch your campaign
Are you ready to launch? Have you:
- Identified exactly what my business needs funding for?
- Determined who my target audience is and how to reach them?
- Organized my email contacts and developed an email capture process to grow?
- Created or designated social media accounts to promote by business and campaign?
- Set a realistic funding goal?
- Written a well-crafted story?
- Produced a video?
- Designed thoughtful and varied rewards?