The technological marketplace is ever-evolving and all kinds of businesses have to struggle a great deal to keep up with the pace of innovation. Corporations tend to move with the speed of a snail while committing large budgets to research and proper development of products and/or services. These tasks are successfully accomplished by small business owners who are more tech-savvy and engage the process much faster than the corporate teams working and researching their innovations more deeply.
Crowdfunding is a phenomenon which is often coupled with email and social media marketing and it is effectively positioning businesses as the pioneers of information services and innovation. 2013 alone witnessed the marvel of crowdfunding with more than five billion dollars being raised through social campaigns; the mark is supposedly all set to hit ten billion dollars by the time we are set to say our goodbyes to 2015.
Often crowdfunding helps those small business owners with great ideas get the jumpstart they need to compete with the corporations with larger budgets and staffs. This is leading to increased competition and is threatening those larger corporations. It is also assisting more companies with the growth they, and their industries, need for great innovation.
Growth is Directly Proportional to Added Competition
When such growth is witnessed within any sector or niche of an industry, it is important to remember how competitive one will have to be as their company grows and threatens the sales of another provider who may be offering the same service or product.
When it comes to crowdfunding, this competition makes it so each campaign must be stronger and more innovative than the last one in all respects to ensure companies can catch and keep the attention of their target audiences.
But how do you successfully do that? How do you make use of crowdfunding quickly and make sure you hit the mark when unleashing your campaigns through crowdsourcing?
Essentials to a Successful Campaign
The following essentials should always be a part of your crowdfunding campaign in order for it to actually make a difference:
Presentation is Key
The presentation of your idea on the campaigning page is probably more important than the entire campaign itself. You only get three seconds to capture the attention of your prospects and make sure that your campaign video and page offer a clear message to the audience helping you plead your case. You need to focus on the five Ws in this regard and make sure your campaign contains the answers to all of them: Who are you speaking to? What are you offering? When will it be available? Where will it be available, and most importantly, WHY do your products or services exist.
The purpose that your product fulfills should always be presented in a visually appealing manner and clearly for all prospects. Your content must provoke deliberate action, and your campaign should be designed with that in mind.
Pay For Promotions
Always be willing to invest on the promotion of your campaign because that is what will drive the sales. You need to keep at the task of trying to increase the overall reach of your campaign so that more and more people are able to see it. This will increase your chances of enhancing revenues if you make contributions to your campaign wisely and strategically.
Communication is Mandatory
This point cannot be emphasized enough and there isn’t anything that could be worse than not following up on your campaign’s correspondence. Make sure all your contributors and prospects are well-informed about your methods and any relevant news, so that your brand and you yourself can acquire a great amount of credibility. Reply promptly to all the questions your audience asks and make sure the response time is as short as possible.
Returning for the Second Round
Once you have made one round and your campaign has been successful, make another attempt and try to expand your international reach. This will help you create a presence for your brand name and often, it is quite fruitful because of the revenue enhancements a second round offers. Crowdfunding is not a Get-Rich-Quick Scheme at all; it is in fact a business model that any company can use that may even help fund your next million dollar idea.