Social media plays a vital role in the promotion of your crowdfunding and fundraising campaigns. For every order of magnitude increase in Facebook followers (10, 100, 1,000), the probability of your campaign’s success increases, too.
This is because social media gives you the ability to tap into your supporters’ personal networks and beyond, spreading your campaign across the Internet. By 2021, there will be 3.02 billion social media users worldwide. That’s one-third of the Earth’s population.
Online fundraising thrives on social media platforms like Facebook, in particular, because it’s easy to spread the word of your campaign in just a few shares.
How Does Social Media Have Such A Big Impact On Crowdfunding?
You can’t crowdfund for your campaign if you don’t have a crowd. Sharing and promoting on social media makes your campaign visible to thousands of people you may not have been able to reach otherwise.
That might sound like an exaggeration, but 97% of crowdfunding and fundraising contributions from social are from clicking through Facebook posts. That’s 97% of potential donors you won’t reach any other way.
People are spending more time on the Internet and social media, which means nonprofits who use social media will get more attention than those who don’t. About 30% of nonprofits use Instagram to raise awareness and money.
Crowdfunding Gives People The Chance To Make A Difference
Crowdfunding and nonprofit fundraising campaigns come with stories that friends, followers, and supporters are more likely to share compared to your average advertisement. People like sharing and donating to campaigns that are meaningful to them.
That might be why 55% of social media users who engage with nonprofits on social media end up taking some sort of action such as liking and sharing. Up to 59% donate money.
But to gain maximum exposure for your crowdfunding or fundraising campaign, you need to be consistent on your social media platforms, and tell a relatable story.
How Can I Use Social Media To Improve My Crowdfunding?
Start by deciding which social media channels you want to focus on. The most popular platforms for raising money are Facebook, Instagram, and Twitter
Next, you want to create an editorial calendar that operates as a schedule so you can share posts on each channel frequently. Only after you’ve committed to a dedicated schedule outlining your posts can you move onto other activities to boost your social media exposure. The Storyblaster software not only provides a calendar and automatic posting that helps you on this path, but actual content and story guidance, too.
To help you out, here are a few tips you can use to employ your social media platforms for your crowdfunding or fundraising campaign.
- Drive traffic to your crowdfunding campaign. When your crowdfunding campaign is officially live, it’s time to start driving traffic to it. You can do this by posting regularly on your social media platforms with calls-to-action that bring your audience to your campaign page. Crowdfunding campaigns can raise three times more money on average if they post updates every day.
- Remember the 80-20 rule to effectively drive traffic. Earlier we mentioned that supporters, friends, and followers are more likely to share crowdfunding campaigns than your average ad. It’s important that you’re not just advertising the fact that you’re crowdfunding for your organization, product, or project. You want to move your audience and give them a reason to donate. The best way to do this is by using the 80-20 rule. About 80% of your posts on social media should educate and inform your audience about your who you are, what your mission is, and the impact of your campaign. The other 20% of your social media posts should focus on encouraging contributions and driving shares. All content should tell the story of your project, product, or organization. Share the WHY, in a way that inspires people to give.
- Create a custom hashtag and use it regularly. One of the best ways you can reach out and gain awareness about your crowdfunding campaign is by creating a custom hashtag on Twitter and Instagram. Hashtags put your project in front of the right audience that’s more likely to support your campaign. You also want to boost awareness by using other hashtags alongside your own custom hashtag to cast a wider net.
- Monitor your comments and centralize your responses. You need to be consistent about scheduling your social media posts, but you also need to be consistent with your engagement and replies. Unfortunately, depending on the number of comments, likes, and shares you receive, it can be time consuming to respond to all. To help you out, consider monitoring your comments using a software like Storyblaster, which centralizes your social media responses all in one spot. This makes it easier to respond to your comments and likes, and keep your followers engaged.
- Set time preferences for your social media channels. Engagement is essential when it comes to driving traffic for your crowdfunding campaign. To optimize your engagement, focus on dedicated time slots for each of your social media channels. Time preferences can vary depending on the social media platform you’re using. For instance, you might receive more Facebook comments during the day and more Twitter comments at night. Arrange your social media schedule around those times.
- Engage with your audience before even launching the campaign. It’s important to engage with your audience during the crowdfunding or fundraising process, but it’s even more vital to do it before the launch. The earlier you start to generate engagement, the more likely you’ll receive maximum exposure when you start asking for money. For example, Critical Role, a web series involving a group of professional voice actors playing Dungeons & Dragons, recently launched a Kickstarter campaign for the show’s animated Dungeons & Dragons special “Vox Machina.” The group’s early engagement with its fan base allowed the series to beat its original $750,000 goal in less than an hour. Critical Role has since amassed $7.5 million in crowdfunding for its animated series.
As you can see with the six points above, there is a lot to think about when building out a crowdfunding or fundraising campaign. There are many resources that can help with particular aspects, but ultimately, you only have so much time. That is why the Storyblaster software has been developed with your campaign success in mind–simplifying many of the steps above to bring you less stress and more success.
Social media channels are vital when it comes to the success of your crowdfunding campaign. Social media not only generates traffic to your project, product, or organization but it also gives you an opportunity to expand your audience and get more people excited about what you’re doing.
And since only 2%-10% of your followers see your posts in their feed without promotion, it takes paid promotion to get your campaign not just to your own network, but to the right audiences beyond who will also want to contribute. Storyblaster’s built-in promotion capabilities, expertise, and proprietary data, takes all the guesswork out of finding the best audience of contributors for your campaign.
It can be overwhelming to try and map out the roadmap to a successful fundraising campaign. Let us show you the way.