To Crowdfund you Need a Crowd
Canada, August 31, 2015 - Crowdfunding has literally exploded in the last couple of years with websites drowning in daily campaign submissions. Unfortunately most of these campaigns are doomed to fail because campaigners simply don’t understand what crowdfunding is.
“People don’t see that to crowdfund you need to have a crowd even before you begin” states Marlena Guzowski, co-owner of PinUp Campaigns, a new crowdfunding portal posting only a small number of handpicked Canadian campaigns.
“We started this company because we believe that a campaign has a much higher chance of success if it seeks local support. Statistically, between 60-80% of campaigns fail to reach their goal and we thought that we could help those Canadian campaigns that actually had a good product but didn’t make it because they were lost between thousands of other projects on a huge crowdfunding portal that did little to nothing in terms of individual promotion or help.”
However, what the staff of PinUp Campaigns found was that some people fail to help themselves, with Ms. Guzowski stating.
“We have people giving us campaigns and basically saying “Here, you said you help promote so make me some money. I wrote the campaign so I’m done”
This mentality will get you nothing according to any blog, post or advice column on crowdfunding that you will read. Campaign owners need to work extremely hard on a daily basis to market, and promote their campaigns. Those that can raise approximately 30% of funds via their own crowd and promotion are generally on their way to success. Those that simply throw their campaign on a site and sit, waiting for a miracle donor to magically find their amazing product are on their way to failure.
“We are one of the very few Crowdfunding portals that actually reads each campaign submission in detail, communicates and mentors the campaign owners throughout the campaign and even markets and promotes each campaign. However, if we receive a campaign, no matter how amazing the product, if the owner does absolutely no self-promotion and not even their grandma donates $1 to their endeavor, there is nothing we can do. No one will invest in something that has no momentum and looks like a dud. Why would a stranger believe in your product if you can not find even a single person close to you who does? A campaign absolutely can NOT sit at zero during its first week. It needs to have guaranteed donations in the first couple of days for it to work, only then will any of our marketing lead to any results.” Ms. Guzowski explains.
The main lesson gained from this?
1. A campaign is not something you can scribble up and simply throw on a web portal, waiting for it to bring you millions. It’s work throughout the duration of the campaing.
2. If you do not have any form of support network that will guarantee you at least a few startup donations to get the wheels of your campaign rolling, statistically, you have minimal chances of success.
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Submitted on: 2015-08-18 23:27:16