Having an idea is just the beginning. You have to find ways to fund that idea in order to bring it into reality. There are many techniques to get capital for your business and one of them is crowdfunding.
The backbone of crowdfunding is the campaign. It allows you to reach out to your people who have the potential to be interested in your ideas. However, as beneficial as it is, it does not come without its challenges.
However, the great thing about challenges is that they are designed to be solved and who knows how to solve challenges better than Ideazon, a company that helps with crowdfunding?
With the help of Ideazon, we have listed some crowdfunding campaign challenges and their solutions.
- Earning Trust
Gaining trust from your supporters may be one of the hardest things to do during crowdfunding.
The easiest way to gain trust is by keeping the communication open and simple. Directing your supporters back to a simple and easy-to-read page will do just that.
If you are using a crowdfunding platform, you can include an FAQ section that explains answers to common questions. It is important that these FAQs are not only easy-to-understand but also easy-to-answer.
- Using the Right Social Media Sites
Social media sites are great platforms to promote your business, but they might not be the best for crowdfunding. You should focus on social media sites that are popular with your audience and consider how much time it will take to find success using that site.
- Building Interest
Once you have given potential investors a chance to see what you are doing, then it is your turn to encourage them to invest. You can do this by showing them how much progress has been made and how much more is left to do.
Remember the saying, “a picture says a thousand words”? It applies here. Use pictures of your product or service to illustrate its progress towards completion.
The best part about using pictures is that they are simple reading materials for people who have short attention spans. You can also use videos or any other method you think will catch their attention.
- Picking the Right Target Amount and Time
Before you start your crowdfunding campaign, you should have an idea of how much money you need. This is the basis for which you will set your goal.
Don’t be afraid to aim high because money will not come if you don’t ask but don’t aim so high that the price becomes unrealistic. Keep in mind that if you don’t meet the target amount, the money returns to your backers.
You should also pick a realistic target time. Know that campaigning can take a while and picking a short period may be detrimental.
- Picking the Right Platform
By picking the right platform, you are able to have the audience in which you want. Crowdfunding is a great tool that can be used by small businesses and start-up businesses to gain access to a larger community of investors. Picking the wrong platform will complicate your experience in reaching out to your audience.
To pick the right platform, you should consider what your business goals are. Do you seek funding or do you seek collaborators? If the answer is funding, then make sure the platform is designed for that purpose.
Ideazon is a platform that fits any purpose you have. They have diverse people on the platform and their campaigning techniques will ensure that your crowdfunding exercise is successful.