There have been a lot of changes across the globe in recent months. The Covid-19 pandemic has forced the world to adapt to a new way of life.
While it might sound easy to retreat indoors and hunker down for a few months, that isn’t feasible for many businesses. In fact, the pandemic has caused many ventures to work harder than ever before to ensure they can stabilize themselves in a world of uncertainty.
As one of the leaders in the crowdfunding industry, Ideazon has thrived on their ability to stay on top of shifts in the world. While just a few years ago, crowdfunding was a rarely used trend, Ideazon was one of the companies at the forefront of utilizing the platform for their clients’ business needs.
It’s with this strength that Gregg Sheffield of Ideazon shares how the team of experts at Ideazon can help you smash your crowdfunding target.
What is the first step to beginning a crowdfunding campaign?
It’s important to have an idea of what you want out of your crowdfunding campaign first and foremost. What is your goal? Where are these funds going? Who are you looking to attract?
Having a clear definition of your goals will help to create a clear, targeted strategy for success.
Why should businesses consider starting a crowdfunding campaign?
While crowdfunding might have once been attributed to individual bases looking to raise money for school, medical expenses, or the like, it has taken a sharp turn into the professional industry for a very good reason. We have more small businesses now than ever before.
Crowdfunding allows these small businesses to work more similarly to a larger business. Where a larger business looks for big ticket investors that give funding due to the promise of a company, crowdfunding allows smaller businesses to do the same thing with “every day” investors that can give smaller amounts to business ventures they would like to support.
What kind of businesses should invest in crowdfunding?
Small businesses with a lot to offer are prime for crowdfunding. While crowdfunding is a time investment, it can reap major financial benefits. It’s important that you are genuine with your investors.
If you feel like you’re “selling” to your investors, this might not be the right venue for you. Crowdfunding is the platform for your venture to get the recognition it deserves and all it takes to do that is a genuine interest in what your business provides and where it’s going.
What kind of work goes into crowdfunding?
It’s important that you grow your individual donor base in whatever way you can. While it’s important to utilize every aspect of the platform, it’s also important that you network.
In today’s world where we’re working largely remote without conferences or other in-person opportunities, social media is one of your best resources. Make sure that you’re keeping investors (and potential investors) interested in your product through these platforms.
What is the future of crowdfunding?
I think that more companies will retreat to crowdfunding. It’s important to be able to break through the noise of the internet by having strong strategy and creativity on top of the incredible product your brand has to offer.
By jumping on the crowdfunding trend sooner rather than later, you are setting your company up for this success.