This week, I had the privilege of interviewing crowdfunding expert Leigh Lepore, who founded Crowdfunding Strategy & Information, a team of business and creative consultants in marketing, videography and PR with a passion for crowdfunding. The team’s work has helped in raising over $500,000 through crowdfunding and over $6 million in traditional fundraising.
Not only is Leigh on our list of Crowdfunding PR and Marketing experts, but she is also passionate about education and sharing inside tips on what it takes to run a successful crowdfunding campaign. Check out the video below and leave a comment if you’d like me to do more video interviews like this. I’ve also distilled a few key points from the discussion after the video.
Note: Don’t feel like you need to watch it all the way through! I’ve also included a breakdown of the points by timestamp.
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0:00 – 2:30 – What is Crowdfunding Strategy & Information?
2:30 – 6:00 – Biggest Crowdfunding Mistakes and the Prelaunch Phase
6:00 – 9:00 – Does it matter which category you launch under?
9:00 – 12:00 – What’s the typical funding breakdown like for a campaign (friends vs strangers)?
12:00 – 15:00 – How should creators approach their rewards or “perks” on Kickstarter or Indiegogo?
15:00 – 20:00 – Do you need a professional grade video to be successful?
20:00 – 23:20 – How do you advise your clients to combat the “Kickstarter slump” or the general “slowing down” of interest in the middle of a campaign.
23:20 – 26:20 – What tools do you use during the marketing and management phase of a campaign?
26:20 – End – When should people approach a crowdfunding consultant? What do they do and how do they price?
7 Key Takeaways.
1. The biggest mistakes are in the pre-launch crowdfunding phase. Get out there and get feedback on your idea, the messaging, and the project. Figure out where your target audience hangs out!
2. Typical time requirements: 60 days spent in preparation for the campaign, 45 days spent on the live campaign. This varies from industry to industry.
3. Social media sharing and updates should be centered around the creation process. Share updates including rough draft designs and how the project is evolving over time. Show people the time that you are putting into the project. Don’t always be talking about yourself. Also share other trending topics.
4. The average amount a creator should expect to have lined up from their social network to kickstart the fundraising process is 30% of the goal.
5. Offer rewards that are engaging, make people want to be a part of the campaign, and that are in some way related to your project or your skill set.
6. Be aware of the Kickstarter slump, when funding tends to slow down in the middle of the campaign. Plan for PR to hit during this period.
7. Tools Mentioned: KickTraq, Buffer, Google Docs, HootSuite, Subreddits, Topsy, Klout, Basecamp, and Trello.
Crowdfunding Strategy & Information has helped over 40 campaigns raise over $500,000 for creators. The team has worked with musicians, writers, and nonprofits.
