What can we learn from Malcolm Gladwell about Crowdfunding?
Posted on 27 October, 2016 by Team Wishberry
Having the right influencers on your side for Crowdfunding Success
Malcolm Gladwell’s book ‘The Tipping Point’ states 150 as the maximum number of people that a person can maintain social relationships with. Putting this rule in the context of crowdfunding, any project creator is highly dependent on these 150 people to kickstart the funding. While running a campaign, some from this group will help you cover 40-50% of the target amount in the first few days of going live. This initial response shows acceptance for your project. Thus, inspiring funders, falling outside the 150 group, to make the final decision of funding. However, reaching out to this external group and getting them to visit your crowdfunding campaign page is the tricky part!
This is when you can fall back on Malcolm’s ‘Law of the Few’, wherein a few people can not only spread the word but also influence the larger external group to support your campaign. These influencers allow you to overcome your constraint of a limited social circuit. But, what’s crucial is reaching out to the right kind of influencers. So, who are these people? Below is a list of a few type of influencers, whom you can reach out to, to amplify the noise about your campaign.
Unlike the three types of twitteratis, in case of bloggers, only the ones writing in the same area of interest as your project, should be approached. This will ensure that the story is targeted to the right audience who would have the maximum motivation to back your project. Bloggers are most likely to include the link to your crowdfunding campaign page, helping you drive maximum traffic out of the other two types of influencers, from their followers base. Do shout out loud about your story being covered by every blogger. Your story going online through multiple bloggers will also help improve the SEO for the campaign page.
Simply by having these three types of influencers on your side, you break the reach barrier of your close friends and family, and extend your base of funders to a much larger network of people!