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.
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.
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.
More in Crowd Funding
The Best Way for Small, Family-Owned Businesses and Franchises to Make Money and Improve Cash Flow
Quarterly surveys demonstrate that business conditions and confidence have been slightly improving. However, it also showed that there is a long...September 28, 2017
It’s Time For Small Businesses To Explore Alternative Funding Like Crowdsourcing and Debtor Finance
The World Bank revealed in 2010 that Australia is the second easiest country in which to start a business. Second only to...September 28, 2017
Struggling Families Are Turning to Crowdfunding for Help, But Are They Successful?
For most parents, the arrival of a new baby is cause for unbridled joy. But for newlyweds, Kristen and Charlie King...September 28, 2017
How to Break Up with Somebody in Your Carpool
A carpool is a great way to get around, especially in a metropolitan city. Mostly, when you carpool, you will be...September 28, 2017
How Giving Up Social Media Can Let You Live Your Best Life
These days, it is not uncommon for people to have their faces practically glued to their phones for hours on end,...September 28, 2017
These are the World’s Richest Tech Billionaires—And None of Them are Over 40!
There really is no sense in denying it—technology is here to stay. It is evident in our ubiquitous gadgets loaded with...September 28, 2017
The Most Influential and Richest Pets in Instagram
Thanks to the massive success of social media platforms, particularly Instagram, there is now an “influencer” in just about any category...September 28, 2017
Investment Mistakes The Ultra Wealthy People Would Never Make
You might have been repeatedly asking what wealthy people do that you do not do. While these millionaires and billionaires just as...September 28, 2017
Is Factoring the Answer to Your Debt in This Economy?
What economic conditions will a factor face this year? According to financial experts, the stock market has doubled in the last...September 28, 2017