The key driver for Launch Day crowdfunding success for any campaign is an email list. More specifically, a lead generation list of people who want your product.
As many agencies and consultants will tell you, the true challenge with building a pre-launch email list is creating one that has the most chances of converting emails into backers and dollars.
Typically, you’ll see 3-5% of an email list convert into a backer by the end of your campaign. That’s quite low compared to the effort you’ll have to put in to even build the email list.
This all changes today.
How Move Found Leads 12x More Likely To Become A Backer
With this problem of finding the most qualified leads in mind, we knew that we wanted to build a funnel that helps determine how likely people are to buy. Simply put, we set out to find people with the highest purchase intent.
This is how we achieved crowdfunding success on Day 1 for Move:
A person clicks on a Facebook/Instagram ad and is taken to a landing page.
Landing Page Signup
On the landing page, the main call-to-action is to give us their email address so they can get notified when we launch.
This is where the typical lead generation funnel for crowdfunding ends. We took it one step further.
$1 Reservation Payment
After the person has given their email, we then make an offer for them to put down a $1 deposit to reserve the membership at the best discount and early access to the project.
Move Insiders Facebook Group
If they put down the $1 deposit, then they are invited into the closed Move Insiders Facebook Group. Here, group members had direct access to incredible Move content as well as live AMAs with the founder. This group proved to be an incredible place to foster community before launch and test out any of our lingering ideas.
Launch Day Results That Completely Blew Us Away
We weren’t exactly sure what to expect on Launch Day: how would people who placed a $1 deposit differ from those who did not place a $1 deposit?
What happened next was completely shocking.
The response was so incredible that Move raised the $50,000 they needed within 3 hours.
This reservation funnel allowed the Move team to generate $36,480 from the pre-launch email list alone within those initial hours.
At the end of Day 1, they raised a total of $114,943.
And guess what? The people who paid $1 to reserve their spot were 12x more likely to place a pre-order than those who did not leave $1.
Needless to say, we were blown away by the results.
3 Reasons To Set Up A Lead Generation Reservation Funnel
By creating this type of funnel during the lead generation period, the Move team was able to:
- Optimize lead generation advertisements for purchase intent vs. lead intent
- Allocate ad budget more effectively and get a higher return on ad spend
- Build a community of people that is 12x more likely to pre-order a membership
They completely crushed their crowdfunding launch and ended up raising $420,835.
Because of these reasons, you should also set up your own lead generation reservation funnel.
If you’re interested in getting the exact template we used to build the lead generation reservation funnel for Move’s crowdfunding success, get it here.