The topic that we have got today is, why do most crowdfunding campaigns fail.
The majority of crowdfunding campaigns do fail, and that is the sad reality.
For example, if you're going to go crowdfunding on Kickstarter, they have a particular failure rate vs IndieGoGo. Kickstarter stats show around 39% of all campaigns succeed, but 61% do not.
It is very difficult to actually work out what the success or failure rates are on all other crowdfunding platforms, but the general perception out there is that about 70% of all crowdfunding campaigns fail.
So we are here to make sure you do not experience the same thing!
So when it comes to crowdfunding failures one of the most prominent causes relates to your crowd, or more often the lack of a crowd.
The simple truth is, you need...
Crowdfunding can open doors!
It can bring projects and services to life where traditional methods fail.
It is an innovative way of unlocking funding for projects and services.
In short, the benefits of crowdfunding can be vast. But first, let’s launch into a simple explanation of what crowdfunding is.
Crowdfunding is a process that allows project creators to reach out to a ‘crowd’ of people for small sums of money, those small sums of money when put together amass to a large amount of money.
If all the success factors for a campaign are in place, then that large amount of money will accumulate to reach your campaign goal.
'Et voila', the project or service is off the ground.
We will touch on what we mean by success factors a little further down.
A crowdfunding platform is essentially a shop window for your campaign. It provides the necessary mechanisms and structure for...
You have grasped it. The key to Crowdfunding and online success is directly connected to the size and quality of your crowd.
A “Crowd” as we describe it, is your community, your tribe, and in some cases your super fans! They are tuned into you as a business, and you have nurtured them to know, like and trust you.
That is key. It is not always about the size of your list BUT how engaged they are.
If you are reading this article and are conscious you do not yet have a crowd then fear not you are in the right place.
Lets kick this off with tip number one:
This is a crucial step! In order to grow your email list, you first need a place to store and manage said list.
Who can we recommend to manage email?
MailChimp offer a free “Get Started” level. As it currently stands they allow you to have up to 2000 contacts, one main list to feed those contacts into and...