5 Efficient Ways to Fulfill Your Business Idea by Taking Advantage of Crowdfunding
Despite all the philosophies we have heard about success in business, there is only one truth, and that says money is the most prominent factor that decides the winner. Deep within, it is what we all seek. In fact, investment and profit are two major elements in any business, and both of those can only be defined with money. The notion of crowdfunding has earned great significance as the world realized the fact that money can’t be separated from success. Imagine if you have this amazing idea for a business, but what difference will it make if you don’t have the funds for the action plan? Fundraising or crowdfunding as we call today is the best of all the options we ever have.
Today, many organizations rely on crowdfunding to financially support the idea they have. Oculus VR- a virtual reality startup is a perfect example of this. They started a crowdfunding campaign- trying to raise a small amount of capital from a vast number of individuals. And guess what! They succeeded in that and was later undertaken by Facebook for $2 billion. Here, through this document, we aim to share some effective crowdfunding ideas for your upcoming campaign.
Decide Whether Crowdfunding Fits Your Requirement
The first and foremost thing you should consider when planning for a crowdfunding campaign is whether it is right for your idea. In fact, an idea will only be successfully crowdfunded if it offers value to the community. Moreover, one must offer an incentive or reward to that audience online as well. This is why most of the crowdfunding ideas related to mobile/web apps or gadgets are successful. It delivers value and obviously, there is an incentive too.
For example, Dash is the world’s foremost wireless smart in-ear headphones. With an effective crowdfunding strategy, they managed to raise $3,390,551 in 50 days, which in fact take their business off the grid.
Set Multiple Goals
Most of the entrepreneurs see crowdfunding as a pathway to get enough funds for their idea. When it is a partial truth, it isn’t the real fact. In actual, with crowdfunding, you can achieve more than just money. And this is the reason why it is important to set multiple objectives when approaching the process. For instance, your additional goals can be reach or exposure. Moreover, you can even use the platform to test your product through a soft launch before entering the market.
Make Sure to Offer the Value Your Audience Expect
As many thinks, crowdfunding is n’t a single person’s affair. The success of a fundraising campaign needs the active participation of a group of people. And this why one must be crystal clear about the value and incentives they offer to get them to invest in the idea. Forget about charity and free contributions, no one is going to fall for that until you are actually doing it.
The best way to frame an efficient campaign is to structure your rewards. This might help you maintain ownership of your idea. Also, be creative with the incentives part. In fact, the reward can be the actual product itself. For instance, offer early access to your app, even a simple acknowledgement may work at times.
Project Page and Promotional Video aren’t Optional
Throughout these years, from our extensive experience in crowdfunding scenarios, we can tell you how important is finding the crowdfunding platform which is best for hosting your project. Platforms such as Indiegogo, Kickstarter, and GoFundMe are the most reputed in this field of business. However, all these platforms have their own set of rules and regulations. For instance, if you choose Kickstarter, you must meet your specified goals within the deadline. If not, you will not anything, even if you’re 80% funded.
In addition, you need to create a separate page for the project you need funds for. Above all, a promotional video is inevitable; for it helps you presents your value clearly as it emotionally connects with the audience. And make sure the video duration is n’t more than 3 minutes.
Marketing and Promotions Makes All the Difference
When it comes to the success of a crowdfunding campaign, the role of marketing and promotions can no longer be neglected. Truly, the more the exposure your project has, the more are its chances of getting funded. However, the best marketing tactics involve Facebook advertising, PR outreach to media, social media promotions, and influencer marketing. And if you have a clear idea of how digital marketing works, it is always advisable to invest in finding a marketing partner.
Why Engage Agriya’s Premium Crowdfunding Script?
Because crowdfunding itself signifies a massive business opportunity, Agriya introducing its premium crowdfunding business line. With an intent to help aspiring entrepreneurs to step into the fundraising arena without any hassle, also to serve those who are desperate to fulfil their business ideas, presenting this top-rated Lending software. However, for the reason that it is a ready-made script, this inclusive Borrowing software can easily be transformed into a fully-fledged crowdfunding platform within a matter of days.