Crowdfunding isn't as simple as you imagine
BEAM 6 Nov, 2017
Crowdfunding has unlocked the entrance for many new ventures that would not usually have the opportunity to kickstart at all. What many individuals fail to understand is that a successful campaign does not simply get lucky or "go viral".
Related: Get your business noticed today
To see any signs of growth, many of us invest months, and at times, years establishing the groundwork for a major campaign. Listed below are a few crowdfunding misconceptions that should be crushed:
1. You don't need capital to start.
Unfortunately, this is misleading. The old belief still proves to be true "you have to spend money to make money." The usual project expenditure would typically include things like photography, videography, marketing, PR and advertising and many other marketing tools and efforts.
2. You need to get press coverage by all news channels.
Media and press wants to write about you because you have successfully raised X amount for your campaign. They could give you lots of visitor traffic but not always lots of subscribers. On the other hand, you should always make the effort to collaborate with bloggers and influencer within your niche as they have more targeted following hence increasing the number of subscribers and not only visitor traffic.
3. "It's a fantastic idea, it will do great!"
Wrong! The best ideas need a solid game plan in order to get the word out, thus that strategy involves a lot of effort and laser targeting. You have to first determine the diverse types of subscribers who you assume will support and endorse your campaign and after that you have to find out ways to educate these people about your project.
And that's it! We hope these tips could help with kickstarting your project.