Fundable University: Updates
Updates to your Fundable campaign allow you to remain connected to your backers and provides information to those excited to hear about your progress. While you don’t want to keep backers in the dark by updating too few times, you also don’t want to overwhelm or spam backers with excess posts. One or two posts per week will be just enough to be engaging without crossing the spam line.
But what should you post?
Create content for updates
Even when you feel that there’s nothing to update, remember that backers are interested in details of your startup that you might take for granted. This includes (but isn’t limited to):
Funding milestones. When you’ve reached a significant percentage of your total funding goal, let your backers know, and thank them for their support!
Example: “We’re halfway to our funding goal! Thanks to all of our backers for your continued support, and don’t forget to keep spreading the word!”
Expressed investor interest. If one or more investors have expressed interest in your startup, don’t hesitate to let your backers know! This will encourage backers by letting them know that others have serious interest and faith in your startup.
Example: “Exciting news – we’re currently in talks with an investor thanks to all of the traction we’ve gained through our funding campaign! Thank you, and stay tuned for developments!”
Supplier developments. Have you negotiated a lower price or better materials for your startup? Show off your startup’s developments through an update!
Example: “Great news! We’ve been able to locate a manufacturer for a much lower pricing point – so we can make more great products with the pledges that have so generously been provided! Thanks!”
Product/service changes. If you’re considering or experiencing a pivot, be sure to give your audience a heads up.
Example: “Friends, family, backers, and fans: we have decided to take our startup in an exciting new direction! Rather than building a car that runs on water, we’ve decided to build a car that runs on hydrogen only. Check back for more updates on this development!”
Media coverage. Fundable startups are often the recipients of awesome media coverage. Let your backers know that your startup is newsworthy!
Example: “We were just featured in TechCrunch! You can read the article here (insert link).”
Social sharing extends your updates’ lifespan
When you update your profile, most of the people who will notice are those who are already following or backing your startup. Most update views will come soon after the updates are posted; the traffic will then trickle off and the update is considered spent. However, when you share your updates on social media platforms (and encourage your network to do the same), the content is spread farther and has a chance to live longer. That means more page views for you!