“Crowdfunding is amazing, and it’s one of the most useful technologies that you guys are going to deal with, potentially this century.” -Dan Baird
What Matters Most In a Crowdfunding Campaign?
A few short months ago, CTC’s Dan Baird addressed attendees at the Utah Crowdfunding Conference, covering critical elements crowdfunders of all stripes—from rewards-based to equity—should consider prior to launching a crowdfunding campaign. One key tidbit: “90% of your work on one of these rewards campaigns [note: that goes for equity raises as well] is actually going to be the planning session. Most of our time goes into just setting the stage for everything to be ready.”
But wait, because yes, there is more. Crowdfunding isn’t just a way to raise capital—it’s also a valuable way to gauge demand for your product or service, as well as feedback on your messaging. And it also requires some elbow grease; a big part of the planning stage is “seeding”, or in other words, talking with potential backers, and then pitching to them so that when you launch, you’ve lined up a cluster of supporters who are ready to provide more than just capital; they’re also prepared to spread the word of your campaign and attract backers beyond just your sphere of contacts and influence. Intrigued yet?
Check out the video.