Crowdfunding Now!

Crowdfunding campaigns that reach 30% of their goal in the first 48 hours dramatically increase their chance of success. Early contributions are more valuable, since they help drive interest and attention. Create multiple touchpoints. Comparing crowdfunding campaigns: Campaign A:  Email: 6.23 conversion rate. Facebook Group: 28.69% conversion rate. SMS 6.96% conversion rate. Campaign B:  Email: 2.06 conversion rate. Facebook Group: None. SMS 6.74% conversion rate.

We posted an article with the title "How to Crowdfund" in 2012. Given all that has happened in the interim I thought we would update it. This data is from  our Online Class on How to Crowdfund -  https://www.udemy.com/how-to-crowdfund/ (Video preview :  https://youtu.be/nL5svW7pN7w ) As I noted in 2012, crowdfunding , getting investments and donations from individuals via the internet,  has taken off, giving individuals who have, until now,  been shut  out of funding markets access to much needed cash. It will especially help socially responsible individuals and those seeking to fund socially responsible projects. These are exactly the types of projects that have had an extraordinarily difficult time raising capital in the current economic downturn.  In my book on  crowdfunding  ( The JOBS Act: Crowdfunding for Small Businesses and Startups , published by Apress) I discuss how to raise ...

"How To Crowdfund" on Udemy: https://www.udemy.com/how-to-crowdfund/ Course Contents: What is Crowdfunding? The JOBS Act's definition of " crowdfunding ," “ crowdfunding platforms," and “emerging growth companies" How to get up to $1 million through crowdfunding The risks and rewards of taking advantage of crowdfunding Intellectual property protection Choosing a crowdfunding platform SEC Title IV Regulation A - how does this work? Indiegogo vs Kickstarter State-level crowdfunding How to stay on the right side of the law when soliciting funds How to identify and deal with reliable crowdfunding platforms and companies How businesses owned by women and minorities can raise new capital, as well as those now shut out of the capital markets (restaurants, day-care centers and others ignored by finicky venture capitalists and skittish bankers) How investors can identify opportunities, avoid fraud, perform due diligence, and then make an int...

We have been researching this issue for some time now, and I thought I would outline what we have learned so far. This is ever changing, so stay tuned. A. EAS (Early Adapter Syndrome). There is a guy in my office building who is a crowdfunding junkie. Daily, he tells me about the latest gadget he just bought on Indiegogo or Kickstarter. He MUST be the first to own the latest toy. Here's the thing: he has grown quite knowledgeable about both technology and about selecting tech products. His success ratio has grown to near 100% now. He can spot a troubled product or crowdfunding campaign a mile away. Not a bad skill to have, actually. B. Love. People donate to products, causes and events they feel excited about. They LOVE what you, the crowdfunder, is doing. Now, part of the issue is making sure that love comes through. If there is a disconnect, people will not know that they love what you are doing. C. Community. It speaks to the community, whatever community that is. It can ...

The chart below results from an analysis of the Top 50 crowdfunding campaigns on Indiegogo, 'Top' measured by total dollars raised. The X axis shows the dollar amount of the reward or  perk ($1 to $10, $11 to $20, etc.) The Y axis shows the cumulative number of rewards/perks collected across all 50 campaigns, so the chart shows that, for the top 50 crowdfunding campaigns on Indiegogo, 100,000 rewards/perks with a  value ranging from $1 dollar to $10 dollars were selected by supporters.  Normally, we might expect this chart to be convex, declining steadily from $1 to $5000. This is not what we see, however. It seems that people are willing to donate small dollar amounts, up to about $50, and then contributors look to donate at least $100. What's going on here? To explain this phenomenon, classify backers into two categories: 1. The first category are people who simply want to help. They donate less than $50 dollars and do not donate for the reward (normally a T-shi...

According to Indiegogo, " Lazer Team by Rooster Teeth " raised $1 million in 52 hours from 14,000+ fans/contributors. What makes this campaign special? 1. Prelaunch. "Rooster Teeth is making its first feature length movie..." and, given that they raised this much cash in a very short period, they spent some time preparing their prelaunch activities. 2. Track record. They are an online video company and had valuable online community building experience from past projects: "Red vs Blue, the web's longest running series Achievement Hunter, a group of charismatic gaming scamps The RT Podcast, focusing on current events and accurate science RWBY, the world's newest anime sensation." It is this experience which set the stage for their success. As they said on their campaign page: "We have always made the most of our resources and made some of the best quality content on the Internet over the past 11 years. We are going to do this on a ...

"three basic issues that should be addressed before launching a (product-based crowdfunding) campaign: Cost.  Before anything else, you need to determine what the true costs of the product are in terms of materials, labor, and ancillary production expenses? 'You can’t begin to set realistic margins until you have that completely nailed down,' he says. Quality.  In this case, 'quality' doesn’t necessarily mean reaching for the highest possible standard, with all other considerations secondary; that’s the path to bankruptcy, notes Miller. 'You have to match customer expectations and product costs to your quality benchmark,' he says. 'You need the right balance. If the quality is too low relative to your price point, you’ll either never get off the ground or your customers will ebb away. If the quality is too high per the price, you can lose so much money you go out of business.' Scheduling.  You have to deliver products when they’re expected. ...

With crowdfunding gaining traction, I thought I would revisit and update our crowdfunding tips. 1. Review other crowdfunding campaigns for best practices As one blogger noted, "Before you start your crowdfunding campaign,  study others who have done it well." There will be many  examples of how to do crowdfunding right. Watch our Twitter feed (@Blackcrowdfund)  2. Hustle Develop a " strategic approach." Who are you trying to get support from? Why would they support you? What are the long term benefits to your supporters? Are you going to hit them up again? How many times?  Create a m edia list. Get "ambassadors," people who will speak on your behalf. "Plan ahead  as much as possible. This means contacting your supporters before you  launch to firm up their promotion and participation, and also  developing a thorough marketing plan." Above all, get going! 3. Adapt quickly As one crowdfunder put it, things may not go as planned. You wi...

From Indiegogo: "Congratulations on launching your campaign!  Now it's time to start raising money! Start sharing your campaign Tell people that your campaign has launched...  Reach out to your closest friends and family to ask for their support. Aim to raise 25% of funds from this inner circle. This will help your campaign reach a tipping point. Increase your (campaign activity) and get featured The most active campaigns are featured on our homepage, newsletter and blog. Campaign activity is measured by...several metrics, such as funds raised, comments, updates, campaign media, referrals, and more. Keep your audience updated It takes 7 contacts with someone before they will take action. Don't be afraid to keep reaching out to your community to ask for their support. Post Updates throughout your campaign to increase your funding.  Campaigns that post Updates every 1 – 5 days raise twice as much money as those that don't ." All good ideas... ...

Crowdfunding News 4/27/13 Synergist Founder Hopes To Raise $25K Using The Company's Own ... TechCrunch Sites like Kickstarter have been used to crowdfund a wide range of projects, but I don't think they've ever done what Synergist is attempting today — they've never crowdfunded themselves. The site was founded by 17-year-old Jared Kleinert, who ... See all stories on this topic » Bill Clinton Touts Potential of Crowdfunding at Creativity Conference Variety WASHINGTON — Speaking at an MPAA , Microsoft and Time event called the Creativity Conference Friday, former President Bill Clinton talked up crowdfunding as a potentially important avenue for filmmakers and others to "make more messages that we ... See all stories on this topic » Tips from a 22 Year-Old Crowdfunding Veteran [Part I] - Crowdsourcing.org Crowdsourcing.org At age 22, Anthony Ng Monica has already completed two successful crowdfunding campaigns to fund his startup,...

7 Strategies For Launching A Successful Crowdfunding Campaign 1.  Tell your story.  - Critical. 2.  Provide value for value. - Important. Include social value . 3.  Introduce scarcity. - (I disagree.) 4.  Create a marketing event. - This helps... 5.  Highlight examples of social proof.  - show social return..... 6.  Build credibility and legitimacy. - This should be second.... 7.  Interact with your supporters.  - Crowdfunding is all about the crowd... http://www.forbes.com/sites/theyec/2013/04/17/7-strategies-for-launching-a-successful-crowdfunding-campaign/ Related articles Piggybackr Launches Its 'Kickstarter For Kids' To Let Youth Get In On The Crowdfunding Wave Crowdfunding Expected to Drive Alternative Financing Market to More than $150 Billion by End of Year 2015 Bake Sale 2.0: PledgeCents Launches A Crowdfunding Platform To Help Underfunded Schools Raise Money New Crowdfunding Platform Rewards Creative ...

From "The UR Business Network, a 24-hour business radio network" broadcasting "entrepreneurs, business leaders and business experts." http://www.urbusinessradio. com/2013-01-02_-_MYOB- BillCunningham01.mp3 http://www.urbusinessradio. com/2013-01-02_-_MYOB- BillCunningham02.mp3 Related articles Crowdfunding & the JOBS Act: What Does This Mean For You? CrowdfundingRoadmap Introduces the First Ever Crowdfunding Expo... SEC Equity Crowdfunding Rulemaking: Where Things Stand CrowdfundingNews 2/18/13

Crowdfunding News  Jan 4, 2013 IndieGoGo's 2012 In Crowdfunding : Campaigns Raised 20% More Than In 2011 ... TechCrunch Crowdfunding site Indiegogo shared some exclusive details regarding their past year with TechCrunch, and the stats essentially back up what Matt Burns said about 2012: In many ways, this was the year of crowdfunding . Campaigns raised more money in ... See all stories on this topic » Crowdfunded Pebble watch ready to drop San Francisco Business Times (blog) Seven months after raising $10.18 million through online " crowdfunding " from people who want one of its cellphone-linked " smartwatches ," Pebble Technology says it finally has a product to put into people's hands. The Palo Alto startup's public ... See all stories on this topic » GarageGames launches crowdfunding campaign to make everyone a game ... VentureBeat GarageGames has been around since 2000 making tools for professional developers. But...

Crowdfunding News 10/2/12 Ben Bernanke's QE3: The Best Thing for Crowdfunding Since the JOBS Act Forbes On September 13th, Federal Reserve Chairman Ben Bernanke announced a third round of quantitative easing (QE3), which came in the form of an open-ended commitment by the Fed to purchase $40 billion of mortgage debt per month until the job market ... See all stories on this topic » Crowdfunding Rescues Provocative South Korean Film Sci -Tech Today Corporate investors had shunned the South Korean revenge movie 26 Years, due to fears about investing in such a politically sensitive movie ahead of the presidential election this year. Now, online donations -- known as crowdfunding -- have saved the film. See all stories on this topic » Sci -Tech Today Crowd funding for business start up has advantages Corpus Christi Caller Times ANSWER: There are two crowd funding sources. The congressional " Jumpstart Our Business Startups Act" wil...