Running Multiple Campaigns....?
So this is something I've seen a lot of discussion about recently, and I'm sure everyone is trying to crack the code. How frequently can you run a campaign? What's the sweet spot? And most importantly, what's the right overall strategy for running multiple crowdfunding campaigns?
I'm not claiming to have all (or ANY!) of the answers, but to strike up a conversation, and share my observations on the topic. I think it's every creator's goal to continue running campaigns, and grow their user base with every successive campaign. But there does seem to be a right way, and a not-so-right way to approach this. And it could be on a creator by creator basis, with no real "this is the only way, and if you don't stick to this formula, it's not going to work". Running multiple campaigns can work differently for different creators, reinforcing that there's no surefire strategy that works across the board.
Some of my observations are as follows though. First and foremost, I think before you even launch a 2nd campaign, you have to establish a level of trust with your existing backers, and others that may have been following along, but didn't back. What I mean by developing trust is having honest, open communication through updates. I'm of the belief that supporters are generally appreciative of transparency, and forgiving for delays as long as it's properly communicated. The other way to develop trust is to deliver your product. Even better if you can do it fast!
Fast you say? Yes! the shorter the time supporters have to wait for their product, the more they'll trust you, your products and your overall brand. So, what does this mean? Well, a couple of tips. As we've learned from running dozens of campaigns, the more material you have ready to go, the more trust backers have of receiving their pledge, since they are just waiting for production, then the product to arrive. If you have your project FINISHED by the time the campaign is over, that is optimal. I understand that it's a Catch-22 sometimes, as people turn to crowdfunding in order to FUND their projects creation. If you can't be done towards the end of your project, then the next best thing is transparency with your backers.
Now, should you launch a new campaign before your last campaign has been fulfilled? If you're new, and have not established trust and loyalty from your fanbase yet, my answer would be no. Even if you have already successfully delivered 2, or even 3 projects, I'd steer clear of launching another before fulfilling your previous one. Then "what's the magic number?" you may ask? I unfortunately don't have that answer. But, it does take a while to establish that you are reliable, and deliver product 100% of the time. That you develop a positive reputation from supporters and followers. Without that, it'll be incredibly difficult to bring supporters back for future campaigns.
There is no silver bullet, but we have certainly seen creators on other platforms launch a new campaign before their last one has been fulfilled. I'm sure results are mixed, but there are certainly success stories out there to be studied. It's rarified air, but it can be done. And hopefully, with Zoop behind you, we can help build that trust with backers, knowing that we deliver.