Crowdfunding and Social Media – The Bond of Profit

Crowdfunding is a name no one from the business industry needs an introduction to. While social media? It has simply become an important part of our life. While a layman can see no connection between the two.

But an entrepreneur can clearly see the relationship between crowdfunding and social media. In today’s internet era, this relationship can be very useful. If used efficiently, crowdfunding and social media can together create hundreds of success stories. First of all, let us understand the relationship between the two.

Crowdfunding and Social Media

Crowdfunding means raising money with the help of crowds for specific purposes. Though the definition seems quite simple. But its application is equally difficult. It is really a task to convince people to give out some money. Even in the case of equity crowdfunding. You have to convince them that your company is trustworthy. And only then you can see some results.

Here is when social media comes to your rescue. Social media is a platform where you can communicate with thousands of people at a time. One tweet, one status update, one picture! And your message can reach to thousands of people. And out of these thousands, even if a few hundreds get convinced with your campaign then too, it is a great number. Here are a few tips on how you can use crowdfunding and social media together.

How to use Crowdfunding and Social Media together?

If you use social media for your crowdfunding campaign, you can actually make it a huge success.

• Find the right platform – Social media is vast. There are a lot of platforms of it. But when you want to use crowdfunding and social media together, you have to choose the perfect platform. Before starting the campaign, analyze the different platforms. Choose the one which is most used by your target audience.
• Use a campaign hashtag – The best way to make people aware of your campaign is to use a campaign hashtag. Choose something catchy and make it trend.
• Content Marketing – Social media is the best place to use content marketing. But when using crowdfunding and social media together, you have to take care of something. Make sure that your content is a proper blend of useful content and information about your company. It should be in a ratio of some 75:25.
• Let your weeks have a theme – Instead of randomly posting any content on your social media, assign themes to different weeks. And then post content following just that theme.

How NOT to use Crowdfunding and Social Media together?

Though social media marketing is beneficial for crowdfunding campaigns. But there are some things you should never do when using crowdfunding and social media together.

• Never ever ask for money straight away. Let your followers first know you before. Let them trust you first before you ask them to be your backers.
• Choose who you are connecting with. Everyone on social media is not your potential investor. If you connect just with wrong people, then your purpose of using crowdfunding and social media fails miserably.