Crowdfunding Updates for Repeat Backers

Updating Backers on your Crowdfunding Campaign

Case study

Jane’s crowdfunding campaign was a success! From campaign prep to posting crowdfunding updates, she did everything right.
The money came in quickly and she hit her funding goal. It had been exciting, and she could book her flights and accommodation for her trip overseas. However she has a lot of backers expecting her to complete her awesome rewards she promised after they backed her.
According to CNN Money over 80% of crowdfunding campaigns on Kickstarter deliver their rewards late. Unexpected things happen – you’ve now got the project to complete and rewards to deliver.
If you’re also studying, or living your life with other responsibilities completing the rewards promised can be quite time-consuming, and if you don’t deliver on your promised rewards you’ll fail to really make the goals you thought you are able to.
The key factor is always to constantly publish crowdfunding updates to let your backers know what’s happening.
Most of the time backers don’t hear from a project because the creator is busy doing what they said they would do. They are doing other things and so they place their backers on the backburner.
It may not be their intention, nevertheless it ensures that the Sugarbabys campaign looks dodgy as someone who’s just taken the money and run.
So the next time you have to start another crowdfunding campaign or wish to continue your fundraising activities (because it worked so well the first time), your Sugardaddies and backers won’t play ball again.
The trust is broken plus you’ve got to create a completely new crowd, from scratch, again. Now that the campaign is funded, and you’re good to go along with your big dream, what are you going to do about the individual’s backers who supported you and forked out their cash?

Case Study

Jane has been sending out and delivering crowdfunding updates throughout her campaign letting her backers know how far along she is, sending out links for the article she got printed, and galvanizing those to share.
Now she’s fully funded, she knows it’s crucial that you keep fans up to date along with her progress. She decides to book out 2 hours weekly to produce a diary of the things that’s been happening and how her life is starting to change with backers help .
Throughout her campaign, Kelly lets her backers know what she has been doing ,

What makes a good crowdfunding Update ?

Tell the truth

If there’s a delay for the planned schedule, just explain it, and tell your backers how you’re intending to cope with it. They’re already cheering for you. And they might rather assist you to succeed and mentor you than have you fail in reaching your campaign goal.

Do everything you mentioned you will do

In the event you guaranteed ‘exclusive updates’, follow-through. Your updates should go as long as it takes to complete your campaign and if you would like to keep going after that, you can as well.
Even though your campaign has been funded, and your goal has been reached, Jane still has some rewards to fulfill! She scales back her updates to monthly to keep her backers up to date without taking up too much time.
Keeping her supporters up to date occasionally will help to make it much easier to raise funds again for her next campaign.

How Often should you send an update ?

How often is entirely your choice, but ensure it’s one or more times monthly. Set time aside some time and send an e-mail. With every message you have to send
Consider if this sounds like really the best moment to obtain the best response from your network: keep in mind that communications on the internet are Immediate. An email can very quickly be lost with the mass of imformation being sent out …
During her crowdfunding campaign, Jane was delivering out updates once a week. Once her campaign closed, Jane sent updates every second week to her backers .
Next, she made a decision to deliver them monthly. The response from these updates were so positive that she could start another campaign straight away and send out insider emails to her previous backers with exclusive offers and pledges to her Sugardaddies for her next campaign.
Jane now has the ability to leverage her initial crowd whenever she’d like for future fundraising event efforts since they know she keeps her promises and stays in touch.
Jane can now continue to fund her lifestyle they way she wants by starting a monthly allowance campaign and having her previous Sugardaddies back her every month.