If you’ve run, are running, or are about to run an Indiegogo campaign, then you probably have heard us say that Updates are an important part of any crowdfunding campaign. Our data shows that making regularly use of our update tool can help you raise as much as 218% more money, and they’re able to do this by not only reengaging with previous contributors and highlighting major goals, milestones, or new perks, but also by building the trust of contributors — during your campaign and after it’s ended. This last point is especially important when it comes to updating your contributors on the status of their perks and the progress of your project.
In their purest form, updates are a form of transparency, and transparency is the name of the trust game. We’ve found that the thing contributors are least tolerant of is silence. Even if you are communicating less than good news — like a delay or a change of plans — it’s better to be honest with your supporters and set the right kind of expectations. We see contributors respond very positively to this openness, while saying nothing at all will likely create some frustrated folks.
When you’re putting together an update, here are some things to include:
Current status — Whether your campaign is live or ended, let people know where things stand — with your progress and their perks.
Milestones — These can be anything: You’ve raised 20% of your goal, you just reached 100 contributors, or a new partner has signed on to your project. Be creative!
New new new! — Building updates around anything new with your campaign can be a strong strategy. Perhaps you’ve added new perks, new color options for your product, or new team members.
Personal — Be yourself, there’s no reason to take an overly official tone.
Honesty — Not all updates will have good news, but honesty is a good policy. And your contributors are likely to reciprocate your respect.
Next steps — Once you’ve let people know what’s been going on, tell them what’s happening next with your perks and project.
Updates can absolutely be in written form, but we’ve also recently seen some great examples of video updates. These are even more personal, as they give a face, tone, and visible emotion to what you’re relaying to your audience. This can be especially helpful if your news isn’t all good news, and you want to put your contributors at ease:
These examples — from the Orapup and Sevenly campaigns — do an excellent job of transparently communicating the status of the projects and convey an honest impression that the campaigners are thinking of their contributors. In the case of Orapup, the campaigners are able to use humor to deliver some bad news, while also laying out an action plan for next steps — thus empowering the contributors and reinforcing confidence that their perks will ultimately be fulfilled regardless of the delay.