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How do you estimate your budget for marketing your campaign? In particular, spending on ads on Google, Facebook and Instagram? I find that the conversion for this is harder to estimate.

Other types of marketing like referrals, giveaways are easier to estimate as they are almost always a percentage of the cost. Whereas the costs for KOL would be tied to their reach.

Hi Jenxi, it really depends on your crowdfunding target and your project category. You must also consider the cost of each lead and the open rate of the email. I would say the more leads your project generated, the higher the potential you have to be funded on your launch day.

For example, let's say your target is 50,000.
You will spend 20% * 50,000 = 10,000 on marketing.

In terms of cost, most marketing companies charge between 15-20% of funds raised with some sort of upfront flat fee. Be wary of marketing agencies that promise you millions of backers or instant success.
Now, a normal marketing campaign will include a product video. This will probably be one of the biggest line items for your crowdfunding pre-launch budget. You can decide on the process that’s best for you. Great production quality makes a video look sharp and professional, but not every video needs top-notch production. The production quality you aim for should match the brand image you’re trying to develop. To learn about your options head here https://crushcrowdfunding.com/5-steps-y ... ogo-video/

Now, there’s a little-known “30% rule” for crushing it on Day 1.

Forget the 100% funded (that’s a nice personal “stretch goal”), you only need to get to 30% of your total funding goal on Day So, this 30% of leads will give you a better idea on how much you'll need to spend on marketing or cost per click (email).
To learn more and calculate your own 30% head here https://crushcrowdfunding.com/the-exact ... to-launch/

I saw your post while looking for something myself. Budgeting for a marketing campaign can feel like trying to juggle, but it doesn’t have to be stressful. First, start by figuring out your overall goals—what do you want to achieve? This will help you see where to focus your cash. Next, break it down into different categories, like social media ads, content creation, or even email marketing. It’s like making a pie; you want to ensure each slice is big enough for your needs.

Remember to set aside some funds for testing different strategies. You never know what might click! I also find it super helpful to track everything. You can use simple tools or spreadsheets to monitor what’s working. If you want some great tips on this, check out https://bluecollarmarketing.ca/contractor-web-design/.

Budgeting for marketing can definitely be tricky, especially when it comes to digital ads. Here are a few strategies that might help you estimate your budget:

Set Clear Goals: Define what you want to achieve with your campaign (e.g., sales, leads, brand awareness). This will help you determine how much you're willing to invest.

Research Industry Benchmarks: Look into average costs for ads in your industry. Platforms like Google and Facebook often provide estimates based on your target audience and goals.

Start with a Test Budget: Consider running small-scale test campaigns on Google and social media to gather data on cost per click (CPC) and conversion rates. This can give you insights into what you might expect on a larger scale.

Consider Ad Placement: Different platforms have varying costs. For example, Instagram ads can be more visual and engaging but might also be pricier than Facebook ads.

Utilize Analytics: Once your campaign is running, closely monitor the analytics. Adjust your budget based on what's performing well. If a specific ad is yielding high conversions, you might want to allocate more funds there.

KOL and Influencer Marketing: For Key Opinion Leaders (KOL), reach out to them for rates, and analyze their engagement metrics. Sometimes, it’s worth investing in a KOL with a smaller following but high engagement.

Ultimately, it's a combination of data analysis, industry research, and some trial and error. Good luck with your campaign! Have you considered any specific platforms or strategies yet?

Great question! Budgeting for ads can be tricky, especially with Google, Facebook, and Instagram. Start by defining your campaign goals and researching average ad costs in your industry. Use historical data or industry benchmarks to estimate conversion rates. It’s smart to start small, test different strategies, and adjust your budget based on what performs best. Also, keep an eye on KOL collaborations they can offer clearer ROI if you track engagement closely. Good luck with your project!

Appreciate the thoughts! I'd love to get some competing ideas—what would you recommend for various budgets? E.g.:

If you only had $500 for marketing, how would you spend it?

If you had $1000, how would you spend it?

If you had $2500 how would you spend it?

And what about $10,000?

Naturally, this varies greatly on the sort of project. In my case, I'm working on a VR game. Any thought on that would be greatly appreciated, but also just any thoughts for the above budgets in general?