Create a Go-to-Market Plan

with Deirdre Breakenridge

Innovative Product Funding

If your GTM product is a good fit for a crowdfunding campaign, what are some of the best practices for you to
consider? Take a look at the checklist of the 10 crowdfunding best practices as you experience a new way to
fund your GTM product.

10 Crowdfunding Best Practices:

1. Have a realistic funding goal in mind. Many marketers will set the funding bar lower to exceed funding
expectations from their champions. It is always better to get your donors excited that you are “at
goal” or beyond goal.
2. Use your existing champions in your network. A lot of successful crowdfunding starts through email
marketing with your current list of professional contacts. Your network can really help with the
amplification and with your funding goals.
3. Have a compelling story for your product, with passion and purpose, and an emotional tug for people
to see and experience why they would want to be a part of your campaign’s growth.
4. Send frequent communication about your campaign to let you donors know you continue to reach
new benchmarks and as you climb toward your goal. Your communication will also keep your sharing
momentum going.
5. Use your social media community champions to amplify for you. Social media will help to raise
awareness for your campaign and to drive interested parties to learn how they can be a part of the
crowdfunding program.
6. Use rewards and recognition that will resonate with your audience. Be sure to select tiered rewards to
show the impact the donor is creating, and which also matches the donor’s motivation for giving to
your campaign.
7. Have a content plan ready to release a steady cadence of weekly content about your campaign. All
imagery and video content should be high quality to reflect a high-quality product.
8. Be sure to budget appropriately for your campaign. A portion of what you crowdsource will go to the
third-party platform you use, and you will also be spending budget on the rewards you set in place.
Like any campaign, have all of your costs laid out upfront.
9. Pay attention to what your donors and champions are saying, such as whether they’re emailing
or speaking out on social media. You want to stay close to your community to guide the positive
communication and impact.
10. Consider the length of timing for your campaign. Brands engaged in crowdfunding find that
campaigns which are 30 days or less are more impactful than longer running programs.

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