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Factors to Consider When Creating A Product For Crowdfunding

When you decide to create a product for crowdfunding you cannot be under the impression that you just need to insert a campaign on Kickstarter or Indiegogo to begin receiving the funds necessary for the creation of your product. You will have several factors to consider when creating a product for crowdfunding. This article is giving you some tips about how you can go-ahead and not just create your product for the campaign but also be successful in receiving the funding that you need.

Most troublesome is the legalization of ‘crowdfunding,’ the ability of start-up companies to raise capital from small investors on the Internet. Steven Rattner

You will receive plenty of advice from various people who will give you examples of how you can create a campaign for crowdfunding. The information provided to you could perhaps make you believe this is a piece of cake which is waiting to be had. However, you are unlikely to go far ahead unless you follow the tips provided and are likely to languish behind.

What are the factors to consider when creating a product for crowdfunding?

Developing a story

People like stories and traditional websites only focus on the products they are selling. People want to understand why you need their support and how you intend to turn your idea into reality. Explaining to people about why you need their support is worth the effort and is one of the factors to consider when creating a product for crowdfunding.

Plan your video well ahead of time

Crowdfunding sites like Kickstarter and Indiegogo recommend you have a video for better results but you cannot create one without having proper plans for the same. Create your storyboard for the video before planning for the shoot and it will save you plenty of time.

Shooting your video

The video can be shot even by using your cell phone and it is particularly helpful if you are hard-pressed for funds. Having a professional shoot your video will definitely be helpful but if funds are a problem you can use alternative methods which are available and won’t break the bank for you.

The presentation of your product

When you are considering a crowdfunding campaign you must give your product plenty of importance and presented effectively. Do not use your cell phone for taking pictures but invest money in a professional who will be able to complete the job efficiently. The money you spend for the professional will be worth the expense because he or she can make the product stand out from the rest.

Have a website ready

While having the website of your company completed is not crucial it is certainly recommended because the website can validate the authenticity of your company. Your crowdfunding supporters would appreciate the information you provide on the website but having a landing page will suffice for the campaign you are creating as long as you ensure you are giving enough information about your company.

Get your calculations right

If you need to reach your crowdfunding goal you will also need to have information about the number of units you need to sell to reach the goal. Having an estimate will put your goal in perspective and give you an exact idea about the kind of sales you need to have in order to achieve your objectives from the crowd funding.

Get involved in some public relation outreach

Your crowdfunding campaign will not be noticed unless you are prepared to get involved in some public relations. Crowd funding can bring in the finances but spreading the word about the campaign will be your responsibility. Utilize every opportunity you get to publicize your campaign because it will make it easier for you to get the funding you are looking for.

While the revolution will be certainly televised, it strikes me that there is a strong possibility that the revolution will also be crowd-funded. Alan Moore

Websites like Kickstarter and Indiegogo have their guidelines to accept or reject a campaign and the approval process can take a few days. You may also be asked to make changes to the campaign and therefore you should also take these as factors to consider when creating a product for crowd funding.

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