10 Things To Know About Crowdfunding on Twitter
In today’s business environment, crowdfunding is the most popular fundraising model, further enabled by social media channels, especially Twitter. The model has completely changed the way one looks at business finance.
Approaching the right crowdfunding platform is definitely one of the tricks, to make it work. Twitter has a global reach and is very helpful in spreading a quick word about your business idea. Besides that, as a business owner one should ensure that business idea is good and adds value to its users. This has to be communicated effectively on Twitter and other social media channels.
Promote Your Video On Twitter
As an entrepreneur looking for crowdfunding, you need to create a microsite and video that explains the business idea very clearly. The messaging must have an emotional appeal that immediately strikes a chord. This is very important for your target group to understand what you wish to do and how you wish to achieve it. Promoting your idea on Twitter with the set of people you feel would be relevant, to your business, is very important. Besides that, you need to have friendly conversations with these people, to engage with them and get their feedback on your business idea. Remember, it is very important to work out a business idea that’s related to a cause or something that people are passionate about.
Build A Community
For getting the appropriate amount of funding for your startup, you need to build a community of loyal followers. Create content that is useful for your target audience. Tweet regularly, to showcase ways in which your project will benefit them. Follow and RT those who you know are the key influencers in your industry. It is important to be friendly rather than spammy. Run contests and games on topics related to your cause and get people to talk about them on Twitter. Also request your followers to RT, so you get the desired virality for your messages. Interesting content engages the audiences and helps you build a community of loyal followers.
Use Appropriate Phrases
Your Crowdfunding campaign must use the right language, to ensure success. The tone of the campaign should be such that the business is seeking an opportunity. The phrases used, must ensure good results and value addition for the audiences. You are out there with a business proposal. Make the best use of a tweet or a conversation to sell your idea effectively.
Keep The Audience Updated About The Project
Followers needs to know how well the fund raising is going on and what development of the project has been done already. It’s the duty of the entrepreneur to provide regular updates to followers. You should encourage the audience to ask and tweet periodically about the funding progress. It adds to their faith and to the authenticity of the project. Chatting with them or organising webinars can help you connect with them better.
Referrals are a very good way to make your campaign more extensive. Running a referral programme and promising some reward is very helpful in spreading a word about your campaign. Such programmes, however, are more useful in the second phase of the fundraising, once most of the goals have been achieved. This also helps in generously rewarding the existing contributors who would be willing spread the word further. Running a Twitter campaign to effectively promote the referral programme can be really beneficial.
Create a Reward Mechanism
Every individual who is contributing to your enterprise is expecting some reward out of it. You need to create a programme wherein the amount of funding contributed by an individual is also reciprocated by a similar reward. This should be promoted wel to engage the target groups on Twitter. The idea is to make the process transparent and encourage more participation. Getting approvals and feedback on such a mechanism builds confidence in the project and increases the level of participation.
Use Twitter To Pitch Your Story Idea
To gain attention, you have to create the most accurate pitch for your business. You should be able to reason out why the business idea is really effective and how it would add value to the market. A real brand story about your business idea would help you engage with your audiences. Adding blog posts about your interest in the cause and sharing it on Twitter and other social platforms would help you build a reputation that you have longed for. Adding slideshares and promoting them on Twitter can be very helpful as well. You can tweet regularly about the values and vision of your business. When you are able to showcase your passion to your audiences, you can win their heart in helping you generously.
Get Influencers to Talk About You
You need to directly request the key influencers in the industry to talk about you. Let them know about how your project is based on an interesting cause and build interest. Get other stakeholders like employees and existing partners to participate on Twitter and talk positively about the project. To have a dedicated Twitter handle for the project is helpful in posting regularly and tagging key influencers and friends on a regular basis.
Use Popular Hashtags
Using popular and appropriate hashtags helps in enhancing the visibility of the project. Here are some popular hashtags that can give you more visibility for your project: #crowdfunding, #nanotechnology, #funding, #indiegogo and #kickstarter.
Follow The Right Twitter Handles
Following the the right people and the right properties on Twitter will help stay updated about the latest in the industry. Being among the right set of people and having appropriate conversations, may get you the better opportunities to raise money. Here are some handles that you must follow: Mark Warner, Naval Ravikant, Patrick McHenry, Crowdfunding PR, Kickstarter Forum, Crowdfund Strategy.
Being passionate about your business idea will surely reap great dividends for your funding needs. Communicating and engaging with audiences across channels, is essential. Twitter is one platform to get the fastest results for your funding requirements. Telling a good story and having positive conversations are the key to crowdfunding success on Twitter.
Guest Author: Ved Raj
Ved Raj is a business enthusiast. He writes about startups, remote teams and outsourcing. He is working as a marketing manager with ValueCoders, a leading provider of remote development teams.