Last week, one project raised over $3mil in its first twenty four hours. This raises the question as to why some projects succeed, exceeding their targets by many multiples, while others don’t get off the ground. With 21% of projects not raising a single cent, the question must be asked as to the keys to success, and where aspiring project creators can get the information they need to make their projects fly. Some of the more supportive platforms are now embarking on workshops to educate users of crowd funding, and it seems the knowledge is making a difference.
It is one of the world’s great wonders why, despite being the fastest growing form of e-commerce on the planet, the majority of people have still not heard of crowd funding. There remains a job to educate them of its very existence, as well as the benefits that it can offer to their creative, commercial, charitable, and community projects. Many people are still unaware of crowd funding and how it has emerged, where it is headed, how it works, and the way it can be used to finance their initiatives.
Once people are made aware of the existence of crowd funding, they feel as if a whole new dimension has opened up to them, finding a new way of getting funding that breaks with conventional thinking of taking on loans or surrendering equity in their idea or organisation. What needs to be done before a campaign begins, how do I put together the perfect campaign, and how do I get the word out there are the typically asked questions of aspiring project creators. They need to know what makes an engaging project description, how to shoot a video that will captivate prospective pledgers, and how to put together rewards that will entice people to part with their hard earned cash.
Some of the more astute crowd funding platforms as well as those close to the inner circle of the industry have started to conduct crowd funding seminars and workshops in which those who are curious about the sector can learn more about this wonderful art form. Sites like iPledg are conducting day-long workshops in which delegates will learn all about crowd funding for the first half of the day, and then all about how to make a campaign really fly in the afternoon “Crowd Funding Toolbox” session. (Click here for more details). This travelling road show aims to educate as many people as possible about crowd funding, and does so in a very interactive, hands on and personal manner.
But for those in remote areas, those that are unable to get to the venues where workshops are conducted, and those who cannot work with the scheduled timeframes, many crowd funding sites are offering regular webinars, further using technology to teach about other technologies like crowd funding. Whilst not as personal as a workshop, these webinars allow people to learn about crowd funding at times that are more flexible, and with the comfort of not having to leave home.
And for those that are time poor, or need to know it all now (and cannot wait for a workshop or webinar) there is a lot of good information posted on the internet, explaining in everyday terms all about crowd funding, how to plan a project, how to post a project, and how to get the best results for a campaign. Some of the better sites will also take into consideration the perspective of the project supporter, and have guides on how best to pledge support for a campaign.
With all the information available on crowd funding, what it is and how to make it work for you, we will continue to see the massive growth of the sector, and increasing successes for those who embark on raising their required cash through crowd funding.