Facebook advertising for crowdfunding projects
Last Updated on February 7, 2022 by justin
Enventys Partners is an agency that specializes in crowdfunding, market validation and product development as well as e-commerce, all under one roof.
Roy Morejon tells how to best run a campaign for crowd funding, and shares some unexpected insights that emerged when they helped a new shoe brand run a kickstarter. His entire presentation can be found here on slideshare.
- Why run a crowdfunding campaign?
- Pre-launch – Strategy and Tactics
- Facebook advertising – The most important thing to take with you
- Create a sense of urgency
Why crowdfunding?
Pre-launch – Strategy and Tactics
Your keywords before launch should be:
- Gain trust – Create a presence and give back to the community
- Provide value – Create an area for your customers to visit and help solve their problems
- Be present – throughout the customer journey
Your goals during pre-launch, however, are:
- Collect email leads
- Make sure your pre-launch leads receive a welcome email ASAP
- Keep your leads engaged with incentives to invite friends or share
- Test audiences, images / movies and texts (however, use only a small part of your budget in this phase)
Facebook advertising – The most important thing to take with you
Have you heard of the phrase “ABC – Always Be Closing” from the movie The Wolf of Wall Street? In digital marketing, it is called ABT – Always Be Testing.
The key to converting campaigns
- Start with low budgets, about SEK 50-100 a day.
- Start with 3 ads per ad group. Have a basic ad in all ad groups and 2 ads with relevant copy for the target groups. Use different messages based on whether it is a previous customer, someone who recently visited the website or based on different interests.
- Test new ads after 3-7 days.
Custom Audience lists are most effective
Build your lists using:
- Customer lists – emails (think GDPR)
- Web visitors
- Facebook page followers
- Facebook Video views
- Look-a-likes (on those who converted)
Prioritize creating your own lists for:
- Segment your customers in the top 10% based on Life Time Value
- Segment based on the product type they purchased
- Create look-a-likes for these segments
- Segmented customer lists convert 6x better than advertising based on interests
- Customer lists convert 4x better than advertising based on interests
- Look-a-likes converts 2x better than advertising based on interests
Create a sense of urgency
This is done using a flow of messages during the campaign.
- [Just launched] LIMITED Early Birds
- Early Bird Almost Sold Out
- Don’t miss out on this flash sale
- LAST CHANCE: Final hours of campaign!
- Over 500 backers, only a few early birds left
Final tips from Roy
- Do pre-launch campaigns to bring in Leads with Facebook
- Use Custom Audiences for Facebook advertising (preferably segmented on products your customers bought before), as well as lookalikes on previously converted customers:
- Customer lists – emails (think GDPR)
- Web Visitors
- Facebook page followers
- Facebook video views
- Lookalikes (on those who converted)
- Confirm your hypothesis / business model with Facebook Ads & Landing Pages
- Moving image ads are good
- ABT – Always Be Testing
- Make sure your landing pages convert, otherwise the traffic does not matter!
- Create a “sense of urgency” with the help of fomo