Hello Crowdfunding Community,
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Wow, what a start to Summer. We attended SocialWest and Inventures in Calgary, followed by London Tech Week and lastly, the Collision Conference in Toronto. We’re thrilled to share invaluable insights on crowdfunding and its secret ingredient: building a crowd. In this edition, we’ll delve deep into the significance of community-building for crowdfunding triumphs. Let’s dive right in!
🔝 Top Tip: Personalized marketing is the key to winning over customers. According to McKinsey, 76% of customers are more likely to buy from a company that uses personalized marketing. Unlock the potential of personalization and foster long-lasting connections with your audience.
At the Collision conference, we had the privilege of hearing renowned experts emphasize the indispensable role of building a crowd—the resounding consensus: building a crowd is a game-changer for crowdfunding and business success.
Here’s why building a crowd is your superpower:
- Trust and Understanding: A strong community breeds trust. By cultivating a loyal following, your audience understands your mission more deeply, forging an unbreakable bond between your brand and its supporters.
- Repeat Purchases and Repeat Investors: Engaging with your community establishes lasting relationships. These connections lead to repeat customers who become your brand’s most vocal advocates, driving sustained growth for your business. They will also be a crowd you can return to for your next product in a rewards campaign or for your next funding round.
- Cost-Effective Strategy: Building a crowd through strategic platforms like email marketing offers an exceptional return on investment. Did you know that for every $1 spent on email marketing, businesses see a staggering average return of $36? It’s a cost-effective way to achieve remarkable results and amplify your crowdfunding campaign’s impact.
- Timing is Key: Building a community enables you to position your brand in front of potential customers at the opportune moment. By nurturing relationships with your crowd, you become their go-to solution when their needs arise. It’s about being in the right place at the right time.
Crowdfunding success goes beyond storytelling. It’s about effectively showcasing how your solution surpasses competitors and addresses the problem with unmatched innovation. Shed light on your business model, revenue generation strategies, and the thrilling opportunities that lie ahead for investors.
By leveraging your community’s power, you’ll drive sales and attract potential investors. Preparing for an equity crowdfunding campaign prepares you for investment, not just for this round, but for future growth rounds with angel investors, private equity, VCs or institutional funds.
Wishing you crowd-powered triumphs,
The Crowdfunding Hub Team
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