Are you considering launching a new product and wondering whether Kickstarter is the right platform for you? Alternatively, have you thought about taking control of your crowdfunding campaign by hosting it on your own Shopify website?
In this blog post, we explore the advantages of crowdfunding on your website and introduce a powerful app called Crowdfunder with its Founder Kurt Elster, a Shopify veteran and host of the Unofficial Shopify podcast.
Whether you’re an established brand or just starting, this blog post will provide insights into the benefits of hosting a crowdfunding campaign on your website and how to build an audience for your project.
Why You Should Consider Crowdfunding On Your Website?
One of the primary advantages of crowdfunding on your website is that you have complete control over the process.
Unlike crowdfunding platforms like Kickstarter, where you must adhere to their rules and pay a percentage of your funding to the platform, hosting the campaign on your website allows you to retain ownership and independence.
By leveraging your existing brand and audience, you can create a seamless shopping experience and maintain trust with your customers who are already familiar with your website.
What Are The Advantages Of Crowdfunding On Your Website Over Kickstarter?
Launching a crowdfunding campaign on Kickstarter often requires educating your audience about the platform and its processes. This can create a barrier to entry, especially for customers who have never used Kickstarter before.
By hosting the campaign on your website, you eliminate the need for education and build trust with your customers who are accustomed to shopping on your site.
Customers can see how close you are to reaching your goal, which can increase their confidence in supporting your project.
This approach ensures a smoother experience and reduces any potential friction in the purchasing process.
How To Build Your Audience
If you’re launching your first product and don’t have an established audience, crowdfunding on your website requires careful consideration.
While the advantage of owning the process remains, you’ll need to develop a strategy for building an audience from scratch.
This involves implementing audience building and crowd sourcing techniques to engage potential customers, involve them in the product development process, and establish a relationship with them.
Transparency, communication, and inclusiveness are crucial in developing trust and generating interest in your crowdfunding campaign.
The Importance of Audience Building
Crowdfunding on your website is more than just a funding mechanism, it’s an opportunity to build a community around your brand.
By actively involving your audience in the product development journey, listening to their feedback, and addressing their needs, you create a sense of ownership and excitement.
This approach ensures that when you eventually ask for financial support, your audience is invested in your success and more willing to contribute.
Additionally, crowdfunding allows you to gather valuable insights and feedback from your audience, helping you refine your product and better serve your customers.
Why Is Social Proof And Validation Important?
When running a crowdfunding campaign, having social proof can significantly impact the success of your project.
Transparency is a crucial element in crowdfunding campaigns, and Crowdfunder facilitates this through its goal-setting feature.
With Crowdfunder, you can set a specific funding goal for your campaign, which is publicly visible to potential backers.
Public raise campaigns allow potential customers to see how many people have already backed your project, providing social proof of its desirability.
Seeing others support your product can generate excitement and validation among potential backers, increasing the likelihood of their participation.
This social proof can be crucial for attracting new customers who are on the fence about preordering.
How to Use The Power Of Scarcity And Urgency In Your Crowdfunding Campaign
If your product is a limited edition or if you want to introduce a sense of scarcity, a private preorder campaign with a limited number of units may be more appropriate.
This approach creates exclusivity and a sense of urgency among customers, as they know there are only a certain number of units available.
By emphasizing the limited quantity and the opportunity to secure the product at its lowest price, you can encourage customers to take immediate action.
Communicating Updates With Your Audience Is Important
Regardless of the approach you choose, effective communication and timely updates are crucial for maintaining trust and transparency with your backers.
Over-communication is key, ensuring that backers are well informed about the progress of your project, any delays, and estimated shipping dates.
Regular updates through email or social media can go a long way in building and maintaining a strong relationship with your customers.
While platforms like Kickstarter have their benefits, hosting a crowdfunding campaign on your website offers unique advantages.
By using the Crowdfunder app, you can seamlessly integrate crowdfunding functionality into your Shopify store and maintain control over the entire funding process.
Whether you’re an established brand or a startup, crowdfunding on your website empowers you to build a loyal audience, strengthen customer trust, and achieve your funding goals. Remember, audience building, transparency, and inclusiveness are critical to a successful crowdfunding campaign.
To learn more about Crowdfunder and how it can help you launch your crowdfunding campaign, visit the Shopify App Store.