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Daily many crowdfunding websites are popping up in the market. It would be very inappropriate for us to go to each and every website and their products, to study why products are getting failed or not generating the total amount being posted. So let us take a survey on crowdfunding process to make it more effective. The process of crowdfunding should satisfy all the below points to make it successful.
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The project posted must solve a problem or create value is some way.
The project being submitted on crowdfunding website for funding should have some valid purpose or goal to be achieved. The project being posted should interest backers to raise fund for that posted project. If you are posting a project to develop a small mechanical tool and waiting for the software engineer to fund you is irrelevant.
There must be a short easy way to understand a video message.
There is always more impact of video and photos over content or words being written. So while posting the project on any fundraising platform if you upload any supportive video or photo, will create an effective advantage. You can state the opportunity of the product in today’s market using a video and can provide solution that will give a call of action to your audience. This will bring backers to your project. You can be innovative by arranging surprise and delight along with the reward for their investment.
You must market your crowdfunding project hard and fast.
We have often witnessed that crowdfunding project campaigns are arranged every now and then but they fail to market them. So without an aggressive marketing campaign it is not possible to attain all the backers on the project to fund.
You must keep your investors informed if you ever want to do another one.
Once you have attained for a project and raised the fund, you should keep that list of the investors for your future reference. So when you raise a campaign for your new project you can inform your investors so that they can help you. This will help to reduce your work of collecting fund and backers. Thus your project can be accomplished within short duration of time from being posted.
Crowdfunding websites are raising $5.1 billion on crowdfunding projects every year. Among all of them 50% of the fundraisers where were entrepreneurs who were trying to get a business off their grounds. Almost more than 1/4th of all the entrepreneurs have grabbed the upfront than they have posted in short span of duration. Platforms will become more social as the time proceeds – Platforms are performing a great job of facilitating funding still they lack in social experience. NCrypted will customize crowdfunding script for you with social marketing features. Contact us to get your crowdfunding website developed today.
