For many new entrepreneurs, fascinated by crowdfunding as a way to raise money and market their products/services and interested in taking advantage of all other opportunities it offers, understanding how crowdfunding works is the first step that needs to be taken. To learn more about the best practices and to understand better what works and what doesn’t, studying already launched campaigns in the same niche, both successful and unsuccessful, will get you a better perspective what steps you should take in order to increase your chances of success.
As time is the most valuable asset for every entrepreneur and timing is one of the crucial elements that can determine the future of every crowdfunding campaign, using reliable information to make better-informed campaign decisions is essential. Data is powerful when it is understood well and is used wisely. The power of crowdfunding campaign analytics is undeniable. So, how can you use it in your advantage?
For crowdfunders starting a crowdfunding campaign is like shooting a Top Gear episode – the terrain will be extreme, the journey will be exciting, your A-team will be always there to help you when you need them, but also to annoy you when they are right and you are not. But most importantly, you will need the right equipment to make your way through the rocky path and using the best analytical tools is what will help you to get first to the final destination and successfully cross the finish line with all planned goals achieved.
“What gets measured, gets managed.” Peter F. Drucker
What do you need to measure?
Having the data and analyzing it will give you important information about the source of traffic to your campaign. These insights will help you understand who is visiting your site, how old are the visitors, what’s their gender, how they got there and so on. It will make it easier for you to track the number of your backers and to understand better what led them to your page.
All of this will allow you to create better marketing strategy and to optimize more effectively your marketing efforts. You will know better on what social media channels you need to emphasize and on which platforms it makes sense to be active. It will help you to better organize the timing of your posts as you will now understand better during which time of the day your posts receive the most clicks and shares.
The Ultimate Tool Kit – market like a pro your campaign and get useful analytics effortlessly with the following six tools that you need to have your hands on!
- Google Analytics
- Bitly – Shorten and track your links
- Crowdster – The do-it-yourself crowdfunding marketing tool
- Twitter Analytics
- Facebook Insights
- Iconosquare – Insights for Instagram
Happy measuring! Which analytic tools you use?