Referral marketing (also known as affiliate or influencer marketing) is a sales and marketing strategy where a creator encourages their backers, media partners and brand advocates to refer their network to their crowdfunding campaign in exchange for a reward when that referral leads to a pledge.
It’s one of the most cost-effective ways to promote your project, and will also bring some of the highest conversion rates. People that hear about your project through a referral are more likely to back it.
Incentivizing others to help you spread the word about your crowdfunding campaign will enable you to access a much broader network than you would have otherwise.
Here are 6 ways you can use referral marketing to drive traffic to your campaign:
Offering your affiliates an attractive commission rate is great motivation to share your project with their network. The typical commission rate is 10-20% cashback on all successful pledges. Be sure to remain competitive while staying within your budget.
It’s important to tell people about your referral program – no one will know about it if you’re not talking about it! Here are a few ways to promote your referral program and drive traffic back to your campaign:
Collaborating with content creators and media outlets is a tried-and-true marketing strategy to get your campaign in the spotlight, it’s often used by successful project creators to drive more traffic to their campaign page.
Start by compiling a list of appropriate blogs, influencers, publications, and other media outlets that cover topics related to your industry or appeal to an audience similar to yours.
Once you’ve compiled a list, it’s time to start reaching out. Provide them with a good story, a strong ask, and an enticing offer to increase your chances of capturing the media’s attention.
Invite companies that sell products that pair well with yours to join your referral program and share your project with their customers.
For example, if you are raising funds for an awesome photography travel bag, try approaching a company that sells cameras. The company can send an email about your campaign to their customers while getting cashback on every pledge they help you raise.
A media kit is an important, yet often overlooked, part of any successful crowdfunding campaign. Provide your affiliates with images and content they can use when promoting your campaign to keep your message consistent while saving time for your affiliates.
Kickbooster allows you to upload a media kit right inside your Design settings. This will be visible to your affiliates inside their Kickbooster dashboard.