BusinessUnderstanding The Link Between Crowdfunding And Marketing

Understanding The Link Between Crowdfunding And Marketing

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You need to market your intentions in the right way to develop a portfolio via crowdfunding. Typically, a crowdfunding campaign requires 11 days of preparation. During the preparation phase, you need to develop the right mix of creativity, originality and utility for your audience. And, if you are taking advantage of crowdfunding marketing services by a leading crowdfunding campaign agency then you can raise resources quickly and materialize your idea much faster.

What is Crowdfunding?

Solo entrepreneurs, small businesses and eCommerce platforms don’t have the required resources to turn their ideas into realities. Crowdfunding is a promising way small teams use to raise money through online crowdfunding platforms such as Indiegogo and Kickstarter. These platforms allow you to create and publish your own fundraising campaign. Crowdfunding does not only help in raising funds but you can also gain public awareness.

Crowdfunding Marketing

You have an original idea and securing and using funds from third party stakeholders can do a few things for your brand. It provides you with positive exposure and you can also earn some adopters for the idea after you have successfully developed the product. The product quality directly correlates with the resources you receive. These people will have a stake in your journey to success.

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You also have to produce good content for the marketing of your campaign. This can create a snowball effect if you are marketing your campaign properly. This gives your brand several advantages.

  • It is good to have loyal customers early on.
  • You can create early online validation and social proof.
  • You can get feedback and comments. Considering the outsider’s perspective on the idea really helps.
  • This is less risky than bank loans, B2B loans and other traditional fundraisings.

Define the Pitch

Contributors need to know what you are raising funds for. Do you need funds to add a new feature to your website? Do you need money for new product line development? Do you want to expand your portfolio? Who will use the product? How will it solve the problem of customers as compared to other brands? You have to answer these important questions to define the pitch for the campaign. You must have a clear understanding of what you want to achieve with your marketing efforts. Why will the right target audience show interest in the campaign and respond quickly and efficiently?

Create a Timeline

It is important to have a development timeline. Proof of concept and delivery timeline are key to the success of a fundraising campaign. You have an idea that may succeed or may not and you are asking for third party resources. You have to be concrete about it.

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Are you going to develop a brick and mortar store that will deliver products to the doorsteps? Are you planning to grow an eCommerce platform that will offer some benefits? A timeline is necessary to provide a sense of security to your backers. A well-established timeline has milestones and deadlines. It also details development notes serving the purpose of a powerful marketing tool for a successful fundraising campaign.

Offer Multiple Payment Options

Your fundraising campaign is destined to fail if you are using only one or two payment types. Always offer many payment options such as credit card, PayPal and even cryptocurrency. You can attract more backers from a variety of backgrounds and from different countries.

Provide Frequent Updates

Don’t be silent when you are running a fundraising campaign. Keep your backers informed of the latest developments. Publish new information on a regular basis.

Follow Up

Follow up on the promises you made and deliver the final product.

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