So, you’re entertaining the idea of running a crowdfunding campaign. If you’ve talked to anyone who has run one before, you know that it can take a tremendous amount of work, some of which you might not have experience in, and that’s ok! If you’re on the fence about running a campaign all by yourself, it might be worth your while to look into hiring a crowdfunding agency to help you out with some of the legwork.
Once you begin your search for the perfect crowdfunding agency, you will find that different agencies offer different services. From promotions agencies to full-fledged crowdfunding marketing agencies, you’ll need to decipher which one will bring your campaign the most success.
Regardless of which type of agency you choose, asking the right questions will not only help lead you to the best decision but also save you time and money in the long run. Having been in the crowdfunding business for years now, we’ve compiled a few of the most important questions that we’re frequently asked for you to consider when searching for the perfect crowdfunding agency:
1 – When did you get into crowdfunding?
Most typical marketing agencies don’t have much if any, experience working with crowdfunding campaigns. The reality of it is, they might have the tools to get the job done, but they might not be familiar with the little details that have a major impact on a successful crowdfunding campaign.
While crowdfunding is fairly new, if a crowdfunding agency just started crowdfunding in 2015 or 2016, you might want to find a team that has more experience and a larger portfolio.
2 – How many campaigns have you run?
Have most of the campaigns that they’ve run been successful? See if they reached their funding goal, how many backers they had, if they received a good amount of press and other qualities that you would like to see in your campaign.
3 – Have you managed any campaigns similar to mine? Can you give me some examples?
Ask them for specific examples of projects they’ve managed that are similar to yours and what some of their techniques were. See if those projects performed well and look at all aspects of the campaign to see if it possessed the qualities that you’d like to see in your own successful campaign. If they weren’t successful, ask them why they weren’t and what they would do differently for your campaign. If you plan to run a crowdfunding campaign for a watch and they’ve launched ten watch campaigns unsuccessfully, you might want to consider looking into a different agency.
4 – What’s your average ad spend and average ROI?
If you’re spending your money on advertising, you’re probably going to want to know where it’s going and what it’s being spent on. Is the agency willing to send you frequent updates and keep you in the loop on their different tactics? What sources of advertising will they be using? If they’re not willing to be transparent about what they’re doing with your money, and you’re not ok with that, consider looking for a different agency.
5 – Ask them about press and how they get it.
Do they rely on a launch press release and gamble to see if someone picks up the story, or do they have relationships with journalists that they utilize to gain coverage for your product? Do they build a custom media list or just blast out a pitch to journalists? Make sure to ask about their strategy and see if they utilize embargoes and any other tactics that will result in the best press for your campaign. Also, consider asking them which outlets they have relationships at and if those outlets have the right audience for your product.
6 – How does this work? What’s the process like for getting set up and working with you?
There’s a good chance that this entire process is new to you, and you won’t want to be left in the dark. Will the agency’s team be willing to chat with you frequently about what’s going on in the campaign? Will you ever get the chance to talk with them via phone or Skype, or do they strictly communicate via email? Make sure they’re willing to take the time to learn about what successes you want to see from their work, and they’re not just in it to make a quick buck and leave you hanging out to dry. The ugly truth is that some agencies will do this, and that’s why it’s important to ask questions and perhaps try to get in contact with some of their past clients.
7 – What can you do for a campaign that’s already up and running?
If you feel like your campaign is lagging a bit, see what kinds of services they will offer to help give your campaign a boost. Do their services include writing updates, email marketing, Facebook advertising, press and more? You’ll want a team that will try new things and provide you with constructive feedback, not one that will reiterate what you’ve already done.
8 – What was your most successful campaign and how much did it raise?
Ask them about the strategy and tactics that they used while working with that project. Is that the same strategy that they’re going to utilize for your campaign? Did their most successful project raise less than you thought it would? It also makes sense for you to ask if they ran the campaign the entire way through. If they started halfway through the project when it was already successful, then they might be taking credit where credit isn’t due.
9 – Are there possibilities post-campaign for us to still work with you? Do you have any connections that can help my business?
See if they have any services to offer once your campaign is over. Running a company is tough work, and it might be nice to have someone take over certain aspects. Do you have a great idea but no idea where to begin? See if they know of any people who could help you develop your product. Additionally, once your campaign is over, you’ll need to manufacture and ship your product. Do they have any helpful connections?
10 – Do you have a past backer network? How did you obtain it?
Do they have a past backer network that they can utilize? If they can’t explain how they obtained it, that might be a red flag that they didn’t legally get that information or they may have purchased a large, but random, set of emails. The numbers might sound impressive, but they might not be the best for conversions. This also might be an indication that they’re spammy, which could mean spam for your backers in the future.
If you’d like to ask us these questions yourself, contact us and someone from our team would be more than happy to chat with you to see if we’d be a good fit to help you run a successful crowdfunding campaign.