Crowdfunding What Not-to-Do to Make Sure You’re Getting it Right
Crowdfunding is a great concept and a fantastic way to gain the funds the pesky banks are often reluctant to lend.
Second Rate Showcase:
When investors are scouring potential projects, it’s your job to put their mind at ease and minimise risk for potential backers. If your business or product isn’t communicated effectively you could be doing yourself an injustice. Keep in mind that those who are viewing your ideas have never seen or heard them before so make sure you showcase your business ideas in the best light you can.
As before, it’s important to bear in mind that you’re pitching your plans to those who’ve never met, seen or even heard of you and your business. This means you need to build trust, the more information you can supply about projections and plans (without giving too much away) the better. Backers want to know their investment will gain returns.
Slow Moving Marketing:
This is often listed as the biggest stumbling block for many failed crowdfunding campaigns. When you have a great business and idea it’s easy to think that this may be enough for people to invest in physically and emotionally. However, as with all products and ideas – they don’t sell themselves. It’s key to make sure you’re marketing your business effectively to gain backing and capture excitement for your venture.
Sweating the specifics:
We mentioned before, it’s great to provide key information for potential backers. But it’s important that the information is just that – key. Getting bogged down in metrics and data can be a real turn off. Make sure the information you give is clear, simple and relevant, along with powerful messaging that communicates your vision.
Whether you’re looking to fund your growing business or find alternative methods of finance to support your business. Talk to us today.