Category Archives: Crowdfunding

CrowdFunding: What Not To Do When Planning Your Campaign!

It’s no secret that planning a successful crowdfunding campaign is not easy.  However with the right strategy in place you too, can be reaping the fruits of your labour.

I’d like to give you some practical tips and advice on what not to do when setting up your crowdfunding campaign. Take a look at the top ten reasons crowdfunding campaigns fail and what you can do to bring them back.   Here is a sneak peak at at the top three reasons for failure when it comes to crowdfunding:

Reason Number 1) Lack of community. Make sure you built a strong community around your service or product before embarking on a crowdfunding campaign.

Reason Number 2) Not enough time to run the campaign. Dedicate as much time and energy to running your campaign as possible.

Reason Number 3) Not enough planning. Start creating a buzz around your campaign at least ninety days before launching. Research other successful initiatives similar to yours, that  have been able to reach their goal.

I encourage you to use these, as aids to guide you through the process

Lastly, take note of this Indiegogo video that gives you step by step  instructions on how to maximize your chances for a successful campaign

For more helpful advice visit us on Twitter @wizof_biz or check out our blog.

Good Luck from the WizOf.Biz Team!

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CrowdFunding: The Future Of Enterpreneurship

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Nowadays, crowdfunding is a great fundraising tool. In fact, within a span of only five years, it has become one of the quickest and most efficient ways of collecting donations online.

Whether you’re a larger company a startup, a film producer or even a freelance author looking to publish your work, crowdfunding is for you.

Clarity, a San Francisco based marketing advice service along with Column Five Media, has put together an infographic to illustrate crowdfunding growth and a few facts about its future.  The great infographic is at the bottom of this post.

High Tech investors and innovators use this fundraising tool to raise capital and spread the wealth. The crowdfunding economy is currently estimated at nearly two billion dollars. All this, because people are given a firsthand opportunity to learn about a product or service through quality videos and engaging campaigns, to help determine the overall appeal and value of the offer.  The secret to the overwhelming success of crowdfunding is that we all enjoy giving feedback and sharing opinions with others.Crowdfunding is a social undertaking and if done right, everyone wins!

Take a look at how this fantastic video clearly outlines the aspects you’ll need to consider when setting up your crowdfunding campaign:

For more informative posts on crowdfunding check out our blog or visit us on Twitter @wizof_biz to get industry news and updates You can also ask the WizOf.Biz mentors about other fundraising strategies that can lead you to business success.

Continue thinking like an entrepreneur,

The WizOf.Biz team.

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Crowdfunding For Enterprises: Why Do It?

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Crowdfunding,  is one of the most popular ways to fund your project, small business or creative idea. Sites like RocketHub, Kickstarter and Indiegogo are sprouting up fast, but how can larger, enterprises use them to further their resources?

Increasingly big businesses use social media as a way to create a sense of community around their brand. Crowdfunding is quickly becoming an effective way for small businesses and enterprise level initiatives, to generate community involvement. Why? Quite simply it’s about the effective use of your most valuable and often overlooked asset; everyday people.

Why Should Large Companies Crowdfund?

1) Get It Out There: For starters, it’s an excellent way create a buzz around your product or service. If people are genuinely interested in what you’re selling.they will donate their time to your business. The good news, is that most online social software tools do not require financial commitment. They are put in place as a way to generate valuable data via platforms like Kickstarter and Indiegogo in order to get a better idea of what your audiences expect. It’s important to understand whether your concept is among the products and services that motivate people to take action. 

2) Pay It Forward: Your crowdfunding campaign supporters will get an exclusive opportunity to interrupt firsthand with your product or service. Not only will you generate advanced financial returns and encourage participants to become eager guinea pigs willing to test out your concept but you will also encourage potential funders to access special features that are otherwise unavailable. This is bound to keep investors happy and willing to spread the word about your newest invention.

3) Keep Them Entertained: Don’t forget to keep the momentum going. Both existing and prospective clients enjoy being acknowledged and praised for their efforts. One way to do that, is to frequently update them about the status of your project. You can also provide occasional previews of upcoming features and discussions related to your product. What you’re doing is asking people to opt-in and continue spreading the news. Some great examples of tapping into your community include BarclayCard and U-Haul Investors Club. 

4) Share Your Successes: People love knowing that they’ve contributed to something larger than themselves. Share your successes, talk about your failures and show your supporters the results you’ve been able to achieve as part of their contribution.

Crowdfunding is for everyone regardless of size or experience. When it comes to building a business community, it’s rarely just about cash flow. Enterprises often choose to do it in order to test market viability, as a way to garner support and secure the public’s commitment to the product or service and lastly and most importantly, to generate ongoing engagement with clients through shared successes.

Read more on the advantages crowdfunding brings to enterprises or visit us on twiiter @wizof_biz for more valuable tips and advice.

Mind Your Business,

The WizOf.Biz team.

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