Crowdfunding is becoming a critical product launch tactic for many businesses. For the wearable tech industry, it is an integral part of the development and promotion of new products. Here is some advice to follow when you are setting up a crowdfunding campaign for a wearable device.
Why Choose Crowdfunding for a Wearable?
In many instances, crowdfunding may be a business’ best chance of getting a new wearable tech product off the ground. Banks can be hesitant when it comes to financing new technology devices. Therefore, funding is difficult to come by. With crowdfunding, businesses have a unique opportunity to not only gather funding for their products but also to build up a loyal following and promote their new technology at the same time. Here’s what you need to know to set up your Kickstarter or Indiegogo campaign.
Building Your Campaign Page
When creating your campaign page, quality is vital. Adding as many visuals as possible to your page is important, and all images and videos you add to the page should be high-quality. Backers will want to see what they are considering backing, especially in the wearable tech category, so show off the unique qualities of your product.
Your video should tell the story of your wearable and pitch it to potential backers. It should also stir up excitement about your product among your target market. When you are creating your video, think of it as a pitch: promote the best aspects of your product and make the sell at the end. In general, videos should be less than three minutes long to keep the attention of your followers.
When crowdfunding, remember to connect with your backers. Being personable, friendly, helpful and informative does your crowdfunding campaign good. Interacting with your backers can also make them more likely to refer others to your campaign. Make sure to regularly show appreciation towards those who back your wearable on Kickstarter or Indiegogo through frequent project updates, livestreams and more.
Social media is a powerful tactic in the crowdfunding arena. Social networks make it easy to keep your backers up to date on the progress of your campaign as well as your product development. Throughout your wearable crowdfunding campaign, continue to share videos, images and announcements to generate more support for your campaign and to increase awareness, leading to more backers.
Keep in mind that the majority of pledges to a crowdfunding project for a wearable happen at either the very start of a campaign or towards the end. Keep this in mind as you prepare your email marketing strategy. The first email should address any FAQs. Try to answer any questions your backers may have in this email. Get your backers excited about the new project, and encourage them to back it and then share it with their friends. As the campaign progresses, continue to send out emails that will generate excitement.
The most important part of setting up Facebook ads for your wearable crowdfunding campaign revolves around finding the right audience. To get started, upload your email list and use it to create a Custom Audience. Follow up by creating a lookalike audience that corresponds to the interests and demographics of those on your email list.
With this advice, you can successfully crowdfund a wearable product. Subscribe to our newsletter to learn even more about crowdfunding.