It’s super important to send project updates to your backers. Here’s why.
By its nature, crowdfunding relies upon inspiring the interest of a project’s target audience and persuading them to financially support it.
How well you engage and communicate with your crowd before, during and after your crowdfunding campaign could thereby make all the difference to its success.
Project updates are an essential tool to help you keep your backers informed – and interested. Regular updates on the campaign’s progress will help your backers to feel part of your project and may even increase your chances of raising more money. On the flipside, a lack of communication might lead backers to lose interest, and you to lose their support.
How to Regularly Update Your Backers
Regardless of the length of your campaign, you should update your supporters on its progress at least once a week. It doesn’t matter how large or small your update is, so long as you are honest and avoid falling silent.
Make a plan pre-launch about how, where and when you will be posting your updates. Ideally, you will always post your updates on the same day of the week, at the same time, so that backers can get used to your routine and anticipate your update. Likewise, make sure to share your updates across all your available channels, such as email, social media and your campaign update section, to grab the attention of as many people as possible.
Engaging Your Audience Through Updates
Sharing interesting and interactive content about your project’s progress shows your backers exactly what you are going through – both the successes and challenges – and encourages them to share the update and support the project.
Your updates could include just text, but adding images of the project or a small video is more effective since it shows exactly how backers’ funding is being used. Starting a dialogue with your community by asking relevant questions could inspire valuable feedback with which you can grow your idea. You could also show your backers they are appreciated by publicly thanking them for their contributions.
Project Update Ideas
Your updates can cover any aspect of your project, from when the crowdfunding campaign is about to go live to celebrating whenever a milestone is reached or a major contribution is received. It is important to share both the highs and the lows of your project journey, so that your backers feel invested in its success and may feel inspired to assist you by sharing your updates to help spread the word, or even by donating further.
Through your updates you can also share new information about your project, such as introducing members of your team, linking to any press that have covered you, or addressing any questions that you have been asked. You could even offer your followers an exclusive behind-the-scenes look into your project, or give them a sneak-peek of your finished product. By raising – and keeping – your backers’ interest throughout your campaign using regular project updates, they will be ready to countdown with you to the final days of your campaign and support you as you take your project forward after it has closed.
Need any advice about kick-starting – and then maintaining – a strong crowdfunding campaign in Malta? Speak to us today!