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Fashion crowdfunding: 5 best practices for success

Launching a fashion crowdfunding campaign can help you to better understand your followers’ desires before starting production and to achieve many more results. You can read about it here.

Today I want to focus on what is needed to turn your campaign into a successful one.  Many creative professionals and designers start a campaign with the sole aim to show new items but this kind of approach will never help them to collect orders.

Launching a successful campaign is not a matter of pure luck. Behind a successful campaign there’s always the same pattern of actions and strategies: follow them with attention and criticism, adapting them to your specific project.

Let’s start :

1. Set different levels of price

If you’re planning to launch your campaign using social media (it’s a must!) you have to consider that your friends, are not interested in supporting your campaign with a starting price of 100 Eur or more. Your friends can be the first people that will share and support your project so think wisely on how to attract their commitment.

Build a friendly price range, create at least 3 / 4 rewards that have a price range from 10  to 100  Eur with the aim to build brand awareness and shareability of your project.

Such as:

– Thank you rewards: for 10 Eur or more you can offer to put the supporter’s credit on your website, or you can ask to all your supporters to send you their photos and create a wall on Facebook for making them feel part of your community.

– Posters: for 20 Eur or more you can send your fans and loyal customers a poster of your latest ADV campaign, look-book or original drawings.

– Invitation to… : for 50 Eur or more you can invite your friends and most loyal clients at your next shooting or private event.

– Workshop: Do you have special techniques that you can teach to your followers? If yes, do it.

Use creativity and create your rewards, remembering that you can engage with your followers in the way that you prefer the most.

2. Include a video in your pretail campaign

Video, video and video; try to create a story, a reason why, something that can help your influencers to understand, to get excited or moved about your campaign.

People buy why you’re doing something not just what you’re doing or how you’re doing.

When you have done your video, ask to yourself the following question: would i share this video on my Facebook page? If yes, and it’s an honest one, well you’ve done a video that rocks!

The Simon Sinek's Golden circle

The Simon Sinek’s Golden circle

 

3. Start to collect  orders from the week 1

In the fashion crowdfunding market is fundamental to start a project with the assurance to launch a campaign that can easily meet the first pre-orders (30% of the total goal); leave a campaign at 0% won’t help you to scale up.

To really receive benefits from the crowd and maximise the pre-orders, your project has to make a good start; to do it, easy, you just need to alert a number of close clients and friends that you’re sure will immediately support your campaign.

When you start well Wowcracy will be able to maximise your results and increase the visibility of your project.

4. It’s a campaign, stay online and be active

Keep in mind this quote: “Good things come to those who work their asses off and never give up”

It’s your campaign, so, make a plan and execute it with perseverance and precision; every day is a good day to make happens something cool.

Use social media, launch an adv campaign on Facebook or Google; the most successful projects always start with a well structured communication plan at their side.

Interact with your followers on Facebook, reveal backstage moments on Instagram and open new conversations on Twitter; you have a lot of tools at your disposal, use them with strategy and creativity.

5. Right price, Curated products & Experiences

Running a fashion crowdfunding campaign gives you the possibility to offer your products with a special price of 20 -30% off recommended retail price.

This is because you can decide how many units you need to pre-sell, in order to apply that kind of early adopter’s discount. And of course because there are no buyers that multiply the wholesale price times 3 before selling an item to the final consumer.

Then you have the possibility to offer experiences, as a visit in your atelier/studio or an invitation to your next event; you have no limits on what you can offer, your campaign can be a 360° experience.

Curate what you are going to offer to your influencers with attention, creativity and stay fair.

I hope that these best practices can help you to design you pretail campaign with a better understanding of what pretail really is and how to approach it correctly. If you’re ready… Get started.

Post and research by Lucas Vigliocco