017: How to Launch a Million Dollar Crowdfunding Campaign with Zach Smith
A crowdfunding campaign has become one of the most powerful (and competitive) platforms for entrepreneurs to introduce new products to the market. The challenge is that less than 20% of campaigns succeed and most of those fall short of reaching their potential. This week, SalesFounders pulls the curtain on America’s leading crowdfunding marketing agency, funded.today.
Co-founder Zach Smith joins us to talk about the secrets of crowdfunding and how his team has helped their clients raise more than $135 million in crowdfunding pledges. With hundreds of successful campaigns in their portfolio, funded.today knows exactly what it takes to create a successful launch strategy, get featured on trending lists, manage a mid-campaign pivots, and how to give your campaign the edge needed to stand out in the crowd.
- Why the success rate is less than 20% in crowdfunding campaigns.
- A Crowdfunding Launch Strategy in 6 steps:
- Pre-planning and Market Research – Picking your product.
- Build your pre-launch list – email marketing – Facebook advertising – find someone with something similar
- Launch – Friends families and fools. This creates momentum that affects the algorithms and exposes you to mass traffic.
- Paid Media – This is the key to drive consistent growth.
- Dial in your customer acquisition strategy.
- Open the flood gates.
- Why 100% of companies pivots during their campaign
- The 7 P’s of CrowdFunding
- Product – What are you selling? Is there a need? Is it techy and ubiquitous?
- Platform – Find the best platform for your product or service (ex. Kickstarter).
- Presentation – The branding, videos, images, stories, and experience behind your product or service.
- Promotion – Spreading the word – paid Media, earned media, affiliates, cash-back network, social media, etc.
- Price – Finding the right price to maximize pledges and drive profitable growth.
- Probability – Do people think your product is going to happen?
- People – What have you done to earn peoples trust?
- What is your success criteria – What do you look for in a winning company?
- Is it techie?
- Is it unique?
- Is it ubiquitous?
- Is there product validation (existing sales?)
- Have they raised capital?
Meet Our Guest
Zach Smith is a serial entrepreneur, having never had a “real” job his entire life. He’s always starting, selling, and running and managing businesses. Most importantly, he loves helping others turn their dreams, ideas, and inspirations into successful companies.
This passion led to co-founding Funded Today, LLC, America’s leading crowdfunding marketing agency and small business consulting firms. He graduated Suma Cum Laude as the valedictorian from Weber State University’s Goddard School of Business and Economics with a business degree specializing in Accounting. He also speaks fluent Mandarin. Along with his Co-Founder, Thomas Alvord, he has raised millions for various crowdfunding campaigns. For two years (2011 and 2014), under Zach’s leadership, Zach’s other companies received 3rd Place at the prestigious Utah Student 25 competition and Zach was featured in Utah Business Magazine.
He is the Co-Author of the upcoming book “Funded” and he is also the Co-Founder of “CrowdCon Virtual”, the world’s first and biggest virtual crowdfunding summit. Zach Smith lives in South Ogden, Utah and he enjoys playing indoor soccer, basketball, table tennis, and working out.