Nuances to the crowdfunding model can make the marketing process awkward and campaigns tricky to navigate. Brand’s are operating in a new environment with different audience types; Every-day investors, High-net worths, VCs, Angels, Customers, Social networks, and Personal networks.
The priorities and preferences of each of these groups are very different and brands must captivate the attention of each to successfully raise and give themselves the largest kick-off post-funding. Dove speaks of itself as ‘an agent of change’ very deliberately, Virgin projects an image of ‘aspirational exclusivity’, Tourism New Zealand genuinely believe New Zealand represents something important for the world.
Each of these brands embraced their challenger identity when entering the market and presented a clear vision and point of view for people to take notice of. They have invited audiences to find an emotional connection to the brand and thereby created armies of followers who loyally trust and advocate them. The danger of failing to establish an identity and define what a brand really needs to be is illustrated by the perennial decline of Reebok, who have never correctly managed the emergence of Nike as the top-end footwear leader.
Instead of accepting Nike’s legitimacy as the leaders of the high-ground, and pivoting to create an alternative destiny, Reebok has failed to carve out a different place for themselves in the footwear market. They have been reduced to a wannabe Nike without so much as a poor man's Nike identity. Crowdfunders have an obligation to know how to reach their target audience and give themselves the best chance of success.
Punk IPA ran a hugely successful crowdfunding round, raising through Crowdcube. Their ‘Equity For Punks’ campaign demonstrated clearly it’s disruptive personality and potential. This is the example brands should follow. It is not always an easy task though, take time, get help and think of the big picture.