Episode 0014 | Crowdfunding Promotion: Cross-Promotions
01/23/19 • 44 min
In this episode, we’re going to talk about the single-most-effective way to generate the best possible conversions for your invention. After testing HUNDREDS of other methods and marketing mediums, this one simple strategy trumps all the rest—and it’s not even close just how well this strategy converts as compared to ANY other method we’ve tested. To do so, we’re bringing on another special guest, the jack-of-all-trades get-’er-done closer himself, Mr. Colton Bybee, the Director of Outreach at Funded Today.
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⭐ During this episode, we detail these takeaways:
1. It’s important to update backers regularly—usually about twice weekly, depending upon exactly how communicative they want you to be, which they’ll generally tell you—at the time-of-day that’s best for wherever most of them live.
2. It’s helpful to end each backer update by introducing no more than five cross-promotions (which may also be called “cross-collaborations” or “CCs”) arranged with other campaigns, even if a few backers complain about it.
3. Cross-promotions should never feature competitors’ projects, but they fare best when featuring complimentary projects, although they still do well featuring unrelated campaigns, especially campaigns that have attracted high percentages of repeat backers.
4. Not all backers will read cross-promotions, nor click on them, but those who respond to them will normally convert at unusually-high rates of up to 20% or so, which is far more than the average rate of about 1%-3% (depending upon average pledge size)—and, conversely, if cross-promotion traffic doesn’t convert, then it’s almost guaranteed that no other traffic will convert, either.
5. Some popular campaigns have raised over $50,000 directly from cross-promotions alone—and, just like with other forms of crowdfunding marketing, increased pledges from cross-promotions generally encourage increased pledges from all other sources.
✍️ Click here for this episode’s complete show notes!
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👉 We want to help as many people as we can; so, if this podcast helps you, then we urge you to please...
• Subscribe to it on our website so that you don't miss an episode!
• Discuss it in our private Facebook group with us and fellow entrepreneurs! Join this group to network for success and to get personalized answers to all of your business questions!
• Review it on iTunes to help us reach more people who need it!
• And tell all of your associates who might benefit from it!
We rely on YOU to help spread the word!!!
In this episode, we’re going to talk about the single-most-effective way to generate the best possible conversions for your invention. After testing HUNDREDS of other methods and marketing mediums, this one simple strategy trumps all the rest—and it’s not even close just how well this strategy converts as compared to ANY other method we’ve tested. To do so, we’re bringing on another special guest, the jack-of-all-trades get-’er-done closer himself, Mr. Colton Bybee, the Director of Outreach at Funded Today.
----------------------------------------------------------------
⭐ During this episode, we detail these takeaways:
1. It’s important to update backers regularly—usually about twice weekly, depending upon exactly how communicative they want you to be, which they’ll generally tell you—at the time-of-day that’s best for wherever most of them live.
2. It’s helpful to end each backer update by introducing no more than five cross-promotions (which may also be called “cross-collaborations” or “CCs”) arranged with other campaigns, even if a few backers complain about it.
3. Cross-promotions should never feature competitors’ projects, but they fare best when featuring complimentary projects, although they still do well featuring unrelated campaigns, especially campaigns that have attracted high percentages of repeat backers.
4. Not all backers will read cross-promotions, nor click on them, but those who respond to them will normally convert at unusually-high rates of up to 20% or so, which is far more than the average rate of about 1%-3% (depending upon average pledge size)—and, conversely, if cross-promotion traffic doesn’t convert, then it’s almost guaranteed that no other traffic will convert, either.
5. Some popular campaigns have raised over $50,000 directly from cross-promotions alone—and, just like with other forms of crowdfunding marketing, increased pledges from cross-promotions generally encourage increased pledges from all other sources.
✍️ Click here for this episode’s complete show notes!
----------------------------------------------------------------
👉 We want to help as many people as we can; so, if this podcast helps you, then we urge you to please...
• Subscribe to it on our website so that you don't miss an episode!
• Discuss it in our private Facebook group with us and fellow entrepreneurs! Join this group to network for success and to get personalized answers to all of your business questions!
• Review it on iTunes to help us reach more people who need it!
• And tell all of your associates who might benefit from it!
We rely on YOU to help spread the word!!!
Previous Episode
Episode 0013 | Crowdfunding Promotion: Leads & Affiliates
In this episode, we’re going to get a little bit deeper into pre-launch. There’s no one in the entire rewards-based crowdfunding space who has generated more e-mailing addresses and more interest for new inventions and businesses than our very own Director of Lead-Generation & Affiliate Marketing at Funded Today, Mr. Tevin Christopher.
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⭐ During this episode, we detail these takeaways:
1. College isn’t essential to either learn or prosper.
2. Crowdfunding success isn’t about either chance or “magic,” but about adhering to fundamental business principles, including in pre-launch phase—and it’s ideal to be first to enter a market, but only if you come sufficiently prepared.
3. Kickstarter campaigns should launch with a thorough prototype section, with funding goals that are not only high enough to seem legitimate but also low enough to avoid daunting people, and with support from Google Analytics to effectively analyze marketing data.
4. It helps to engage in pre-launch marketing among both personal contacts and generated leads (obtained through social-media ads), who can not only provide useful feedback to creators but also help creators to reach their respective funding goals as quickly as possible, which is a great advantage.
5. Leads may be e-mailed 24 hours before a campaign launches to prepare them, during launch to mobilize them to pledge, 24 hours after launch to report progress, weekly thereafter, daily again during a campaign’s final 3 days, and then weekly or monthly afterward as long as those leads continue to yield revenue.
6. Affiliates include backers who get paid a small cut for bringing pledges to campaigns, whether from themselves or from others, which contribute to a campaign’s success.
7. Influencers can also help (although not usually as significantly), especially those with sizable audiences that sufficiently fit one’s product—and they are best arranged in advance so that they enjoy ample time to receive a product and review it.
✍️ Click here for this episode’s complete show notes!
----------------------------------------------------------------
👉 We want to help as many people as we can; so, if this podcast helps you, then we urge you to please...
• Subscribe to it on our website so that you don't miss an episode!
• Discuss it in our private Facebook group with us and fellow entrepreneurs! Join this group to network for success and to get personalized answers to all of your business questions!
• Review it on iTunes to help us reach more people who need it!
• And tell all of your associates who might benefit from it!
We rely on YOU to help spread the word!!!
Next Episode
Episode 0015 | Crowdfunding Promotion: Earned Media (PR)
In this episode, we’ve got a very special guest for you. She’s directly responsible for raising millions of dollars for thousands of campaigns leveraging the power of earned media and the press!
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⭐ During this episode, we detail these takeaways:
1. Public relations is best started as soon as possible in order to allow as much time as possible to cultivate vital relationships, but it’s never too late for PR to accomplish some good.
2. It’s helpful (but not essential) to send prototypes or samples to reviewers, especially when such product reviews are arranged in advance during a campaign’s pre-launch phase.
3. Crowdfunding PR (unlike traditional PR) should focus more on short-term fundraising than on long-term positive exposure, which may mean targeting sources that enjoy less prominence but better conversion rates, such as product directories.
4. Crowdfunding PR should involve compiling a list of hundreds of news outlets that serve one’s target market, identifying only one reporter (at a time) to contact at each outlet, pitching to those reporters via e-mail (ideally on Friday mornings but neither Mondays nor holidays), and finally following-up persistently with any reporters who haven’t yet responded.
5. Each such pitch to a newscaster should include a title that will easily stand out among hundreds of others, present content that is brief, “snappy,” entertaining, informative, and highly-customized toward the writing style of each news source, along with the interests of its audience, and also include a link to whichever campaign page is being promoted.
6. It’s easier for popular well-funded campaigns to get featured, especially those with newsworthy elements—and getting featured in one news source (whether big or small) renders it easier to get featured in additional news sources.
7. Public relations is both hectic and “hit-or-miss,” and sometimes rather slow to yield results, but it can potentially raise tens-of-thousands of dollars for the right campaigns.
✍️ Click here for this episode’s complete show notes!
----------------------------------------------------------------
👉 We want to help as many people as we can; so, if this podcast helps you, then we urge you to please...
• Subscribe to it on our website so that you don't miss an episode!
• Discuss it in our private Facebook group with us and fellow entrepreneurs! Join this group to network for success and to get personalized answers to all of your business questions!
• Review it on iTunes to help us reach more people who need it!
• And tell all of your associates who might benefit from it!
We rely on YOU to help spread the word!!!
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