The digital age has brought many changes in every aspect of our lives. It has changed the way we communicate, do business, buy and sell products and ideas.
Crowdfunding undeniably is leading the new frontier for financing entrepreneurship. As everything in a crowdfunding campaign should be innovative and aligned to the rules of the digital age, so does its sales pitch.
This requires a new set of sales tactics to be embraced by the entrepreneurs who turn to the collective power of the crowds when it comes to fundraising.
The sales tactics that work in the digital age differ from the well-known strategies that we used before the Internet took the world by storm. Crowdfunders know that they must go to extraordinary lengths to avoid getting lost on their way to reaching the right crowd.
The following sales tactics will help all entrepreneurs to improve the selling power of their crowdfunding campaigns, so keep on reading!
Hard sale vs. soft sale
Traditional sales approaches tend to push the customer as hard as possible into buying the product. Nowadays, building a long-term relationship with the customer/supporter is more important than closing a fast deal. In the digital age, brand awareness brings more value in the long run than making one sale. Soft sale skills are what crowdfunders must focus on.
The power of social selling
Social selling is a strategy embraced by the salespeople that connect them directly to the target audience through the social media channels. Due to the significant growth of social media channels that engage the audience differently, every salesperson must take into consideration the platform they are using when it comes to creating the most successful social sell approach.
The successful social selling strategy consists of providing value to the customers through engagement. The salespersons actively and consistently connect with the target audience by asking questions, replying to comments and sharing valuable and informative content.
The difference between the old sales model and the new one is significant. While the old sales model consists of call calling techniques and sales demos, the new approach is much more efficaciously. The main reasons for the success rate of sales representatives who use social media to promote their products are community, engagement, content and value.
A big part of any crowdfunding sales pitch is to sell the idea and to invite the potential backers to make a donation in exchange for receiving a reward. But there is much more to it than that. It is about building a community, receiving feedback, discovering the market share and the market fit and so on.
Most campaigns are supported by the tech savvy younger generations. Millennials are less susceptible to traditional sales techniques, which makes it mandatory for all crowdfunders to focus on the sales tactics that are demanded by the digital age. In the end, it is not only about building the networks, but putting these networks to work!