You might think I’m a cavewoman when I tell you that the secret to success in crowdfunding lies in sending emails.
In an age of Facebook, Twitter, WhatsAp, Snapchat, Pinning and Tumbling, email seems almost quaint.
But there is a reason I preach email over social media: because it works.
Facebook’s algorithms mean that the size of your fanbase doesn’t really matter. What’s more important is how much money you have available to bribe the system into letting you reach their newsfeed.
And while Twitter is excellent for generating conversation and awareness, anecdotaly, it doesn’t really convert to pledges.
Email converts to pledges. And if we’re thinking about the goal of your project, then pledges is probably at the top of that list.
What is Mailchimp?
Mailchimp is an easy-to-use email distribution service. It makes subscription to, and management of your subscribers simple.
You can group people, target and segment your list. You get analytics, and you can create a “nurture sequence” – a series of emails designed to introduce people to your campaign.
And unlike social networks, it allows YOU to own that connection.
What are the benefits for my campaign?
If you’re doing it right, you’re going to spend a lot of time warming people up for your campaign.
You’re going to hold events, and talk to people and send out videos. You’ll get your social media accounts set up, and build an audience.
Mailchimp makes it easy for you to capture all that hard work in one place. You have the ability to reach that person you just worked so hard to capture. Directly.
It also allows you to see which backers are most engaged in your campaign. There is a suite of analytics that allow you to segment your list.
Creating a segment for your Mailchimp list
This means you’re able to implement strategies to get your project funded faster when launching.
Mailchimp’s easy-to-use drag and drop builder also means you can create beautiful emails, that will work on any device.
Simply put, it’s easy-to-use, and allows you to contact your crowd directly when it matters. There’s also the added bonus of…
Cost
One of the reasons I recommend Mailchimp over every other email provider out there is because it offers a free service.
Entrepreneur level
Free – up to 2,000 subscribers. Limited to 12,000 emails per month. Some features disabled.
This is perfect for projects seeking less than $10,000.
The reason I put this limit on it is because over $10,000, you should really be thinking about creating a nurture sequence.
To do this, you will need to upgrade to the next service level in order to get automation functionality.
Growing Business
Costed by number of subscribers, starting at $10/month.
If you want to take advantage of a nurture sequence, this is the level you’ll need to opt for. I recommend this if you are equity crowdfunding, or taking your crowdbuilding seriously.
A nurture sequence means that all of your backers get an introduction to your campaign. This harnesses excitement and turns interested people into enthusiastic backers. You can find out more about planning nurture sequences and how to set them up here.
Things to know
It’s worth knowing how to write an update. Remember to keep your emails about your subscriber.
You’ll need to have a communications strategy. Email is only as effective as your pitch and communication style. Always remember that you have a purpose and a plan. Stick to your pitch and remember who your ideal backer is.
You’ll also need to be aware of the legalities involved with direct email marketing. Many countries have laws to prevent spam. It’s worthwhile understanding your responsibilities and the laws in your locality. Many international laws are listed by Mailchimp here. You can find the legislation for New Zealand here.
In general, it’s important that people have agreed to receive email from you, and that they have the ability to unsubscribe.
Bottom line
MailChimp isn’t the only email management provider. There are plenty of alternatives such as AWeber, Constant Contact, or InfusionSoft.
The reason I recommend MailChimp is because – unlike most alternatives – it has a robust free level. We’re not talking a trial either – it’s “forever free”. It’s a little limited, but it still provides you with most of the usability you’ll need.
The drag and drop functionality also means it’s easy to use, while it’s competitively priced and used by thousands of trusted brands (including Multitude).
All Multitude email tutorials use MailChimp as the platform of choice, however the general principles of using email apply to any email provider.
