Top 10 Tips for a Successful Food or Drink Crowdfunding Campaign

I have recently been working with a few clients who have been looking into crowdfunding so I thought I would share a few tips to help other food and drink producers who may be thinking of this route to raise much-needed funds for their business to grow.  I hope you find them useful.

  1. Spend time planning your campaign page well ahead of launching it
    It will take months of preparation to prepare a successful campaign and to make sure you have everything in place once the donations start rolling in.  So make sure you have the time and resources to devote to it before you start, as you don’t want to spend all your efforts and time on the campaign to the detriment of the rest of your day to day business.  So work out who is going to be doing what within your business during this period so focus is on the campaign as well as keeping your business going.
  2. Why are you crowdfunding?
    You know why you are crowdfunding (well hopefully you do!) – but make sure you think about how you convey this to your audience.  What exactly are you going to be doing with the money?  When and how?  What will it mean to your backers?  People want this information – they want to know that if they support your campaign that the money is going to be effective in achieving what you are setting out to achieve.  So you may be crowdfunding for a new oven for example – but what does that mean exactly?  Better working conditions for employees?  Quicker production so you can make more product and get it to more people?
  3. Build up the audience before you launch your campaign
    This is absolutely key and critical to the success of your campaign.   Maybe you already have a massive database of emails that you can be communicating with prior to the launch, but if not, why not do a lead-generation booklet – such as a Recipe Booklet to build your audience.?  Social media is a great way to build your audience.  Take a customized approach to each platform and write a social media content planner for the pre-campaign period as well as the campaign period.  Think about what your pre-campaign teasers/hooks will be.
  4. How to make your campaign page stand out
    Spend time creating your campaign page – tell the story, using photos, and graphics and video.  The video really is the key selling point – remember people aren’t just investing in a food or drink product, they are investing in people and a story.
  5. Think about your rewards carefully
    Make sure you have rewards for every budget.   Also think creatively.  There are different sorts of rewards you can offer:  Product (your food or drink or branded merchandise such as a T-shirt/bag); Experience e.g. learning to bake with you or a tour of your factory; Creative – having their input into something such as developing a new flavour, tasting some new products with you; and finally Sentimental e.g. name something after them e.g. your new drink variant could have their name.  Make sure you think of all your potential investors e.g. direct consumers, your wholesale customers and corporate.
  6. Keep the Momentum Going
    Once the campaign is launched, you may think all the hard work is done – but unfortunately not!!  It’s important to keep the momentum going, keeping your audience updated with any new perks, new videos and key milestones.  This is easily done through social media, but don’t forget to update your campaign page too.
  7. Get as much coverage in the press as possible
    You don’t need a massive PR budget – take a look at the following two  websites  where you will find journalists looking to write about your campaign. Anewstip and HARO
  8. Choose the best time to launch your campaign
     Think about the best time to launch your campaign – it needs to be a time when people have money – just before Christmas or January are probably not ideal.
  9. Follow up once the campaign has finished
    Make sure you send updates once your campaign has come to a close and keep those who contributed updated as your business grows – you never know when you might meed them again!
  10. A successful campaign that I love!
    And here’s a link to a successful campaign that I love – personal, quirky with humour, clear mission and story to buy into…see what you think.SNACT CROWDFUNDING CAMPAIGN

For  a FREE month’s trial of Relish Food Marketing Club  visit www.relish-marketing.co.uk.    UNLIMITED mentoring from the Relish team and access to oodles of resources to help your business grow.