We dive into what a successful campaign for a Food & Beverage brand looks like and what steps you can take before launching yours.
We’ve always been avid supporters of local Food & Beverage brands here at Pozible. For over 10 years now, we’ve provided the tools for amazing products to get noticed and distributed to loyal fans and supporters.
There’s a charm to a small-scale brewery or a family-run winery that is so crucial to crowdfunding, it allows you to let the personality of the people behind the scenes to shine through.
After working with some amazing brands including the now globally-recognised Four Pillars, female-run Sparkke Change Beverage Co. and organic diary Schulz Milk we’ve learnt a thing or two about sustainability, creating great offers and engaging with supporters in a meaningful way.
With the global crowdfunding market valued at $84 billion as of 2018 and expected to reach $114 billion by 2021, now is the time to be exploring alternative ways to engage your audience and offer exclusive deals.
Keep reading for some practical tips on getting started with your own crowdfunding pre-order campaign.
Know your audience intimately
Before you are ever thinking of launching a campaign, you should have a good idea of the key attributes of your target audience. Take the time to identify who the main people are that are most likely to purchase your products and actually ask some questions to gain a better understanding.
This will serve as the basis of your whole campaign and allow you to craft better offers, create more relatable and relevant content, and convert your supporters into lifelong fans!
Ask some questions like;
- What are the main shared attributes of my existing customers/top followers? (i.e. age, location, gender — be as specific as you can!)
- What are some shared problems my audience has?
- Where does my audience interact with me most? (social media platforms, newsletters, physical meetups, etc.)
- What content performs the best, is it product-related, educational or fall into a specific niche? (use social media to report on engagement)
Check out this great blog post that takes an in-depth approach to creating marketing personas. Once you have all this information, you can sort your audience into segments based on their likeliness to pledge and even create multiple personas to assist you when crafting your campaign messaging.
Invest time in growing your list, so your list will invest in you
Be active in your community, engaging with your networks and growing a following around your product, so that when the time comes to launch and start showcasing your campaign offer they will be more inclined to buy.
This can mean joining relevant Facebook groups, finding local like-minded communities or simply offering your services and support to other brands, creators or startups without expecting anything in return.
There is a lot to be learned from similar brands or even past successful crowdfunding creators, as this can help you improve your target audience personas and help you understand how much a future supporter would be willing to contribute.
Choose a set of values and uphold them
Positioning your brand as one that aligns with certain communities or specific values and beliefs, it will strengthen your message down the track when you are talking about your campaign.
Is your product plant-based? Do you work to reduce or offset your carbon emissions with each purchase? Will you donate a percentage from the total amount raised to a charity or social enterprise? How can your supporters feel good about their contribution, aside from the physical product they receive.
By adding an emotional element to your campaign and upholding your set of brand values in the eyes of your supporters, you are more likely to raise higher targets and attract larger amounts.
Put your product front and centre
Showcase what makes your product stand out from the crowd, and make it memorable! This means actually producing high-quality images, video or mockups of what the finished product will actually be once it gets into your supporters’ hands.
Play to your strengths, if you’ve got an awesome first-in-market design or maybe a brand new recipe for brewing your products, make sure this is communicated clearly in your campaign page.
We can’t stress the importance of video enough here at Pozible, with data showing that campaigns with a pitch video are 19% more likely to be successful. By creating personalised video content to showcase your brand, you are instantly making your campaign more accessible and shareable.
For more info on getting started with a pitch video and what to include, check out our blog post here.
Set an achievable target and overshoot it
Setting a target is a requirement for all Pozible campaigns, and it will differ for each individual project. Take the time to work out what your budget needs to be to produce your product, and work backwards from there to see if you can break this down into smaller funding goals for the campaign.
By looking at your current lists and target audience, you can plot a path to success by using our formula for choosing a realistic target. The idea here is to set an initial target that you can reach within your campaign timeframe, and then make use of our Stretch Targets feature to increase your goal.