191: How to Grow Your Crowdfunding Sales

Mark Pecota is the Co-Founder of LaunchBoom, the original and largest crowdfunding agency globally. He's also the author of the top-selling Amazon book "Crowdfunded," a guide covering the end-to-end crowdfunding process, which has held its top spot for over 3 years. Additionally, Mark co-hosts the Crowdfunded Summit, an event I've had the honor of keynoting several times and will be speaking at again from September 12th to 14th.Mark shares some invaluable insights tailored for inventors, startups, and small manufacturers. He delves into the mechanics of sales growth before and during a crowdfunding campaign for new hardware products. Mark also sheds light on the online advertising tools instrumental in driving sales, while highlighting the best practices to optimize your return on advertising investment when selling your novel invention through platforms like Kickstarter or Indiegogo.Here are some key points from the discussion:
Crowdfunding serves as a potent avenue to bring hardware products to fruition.
The beauty of crowdfunding lies in generating pre-orders, with the funds earmarked for manufacturing.
A crucial misconception is assuming that products on crowdfunding platforms will naturally gain immense traction.
Establishing a robust pre-launch strategy is pivotal to leverage crowdfunding algorithms.
Harness advertising to cultivate email subscriber lists.
Facebook stands out as the primary platform for launching new products, both in pre-launch and during crowdfunding.
The cornerstone is consistent, scalable, and high-quality traffic.
In the pre-launch phase, the focus is on constructing a meticulously curated email list.
During the live campaign, the goal shifts to driving actual sales.
Accurate targeting is vital, with Facebook audiences revolving around user interests.
Utilize Facebook's suggestions to build a comprehensive list of user interests.
The visual content of ads holds paramount importance, with the creative element (photo or video) being particularly critical.
Crafting scroll-stopping ads is a key strategy.
When choosing Facebook objectives, prioritize those yielding tangible ad results over awareness campaigns.
Mark Pecota Links:LinkedIn | Boast.AI | BookThe Product Startup Podcast Links:https://www.ProductStartup.com/Instagram | LinkedIn | Facebook Page | Facebook Group | Pinterest | Twitter | YouTubeMako Design Links:https://www.makodesign.com/YouTube | Instagram | LinkedIn | Facebook | Pinterest | TwitterKevin Mako Links:Instagram | LinkedIn |