Crowdfunding has been providing business-minded people a way to achieve their goals by recruiting the help of other people to their cause. It usually consists of asking a lot of strangers to pitch in small amounts of money for an idea, service or product that the initiators want to bring to a wider audience and market.
There are a lot of strategies and ideas these crowdfunding projects employ to get the most funding from people. The idea is to bring the campaign to as many people as possible so they get to read about it and hopefully put in a small amount into the project. The more people who are made aware of the project, the higher the chances that it receives the funding it needs.
With this model, crowdfunding initiators try to engage as many people as they can to get the funding they need for the project. This is where publicity and public relations come into the mix as initiators use them to gain an advantage in public awareness. One business adage often used when starting up a venture is to just build it and the people will come. But there is more to it than just waiting for people to come.
Crowdfunding and publicity
Publicity brings projects into the spotlight if the people behind the project know how to use it to their advantage.
- Use it to spread awareness on your project. Publicity is a great tool provided you know how to use it to gain the appropriate audience to notice your project. There are a lot of strategies people have been using and some venture into questionable tactics just to get ahead. You need to highlight the strengths and advantages of your campaign and use those points when you communicate to your potential investors. Use the positive points in your campaign to rally support to your cause.
- It increases consumer confidence. The more you get the word out to the public and showcase the positive points in your project, the confidence level on your campaign will increase. This confidence level can be proportional to the amount you can get from people who gets to come across any publicity material about your project. The more people get to read good things about the campaign, the more confident they get to put in funds into your campaign.
- More investors can come to fund. Being able to use positive publicity for your project can bring in a lot more people to your camp. When more and more people start to take notice, it can snowball into a lot of support from people all around the world. Crowdfunding does not confine your project to a specific city, community or even country.
Publicity is a great tool in helping people understand your crowdfunding project better. It could recruit the help of media and have public relations to your advantage. It can be guest blogging for reputable sites or it can even be an offline event that brings your investors together while media covers the event.
This article is written by the Crowdfunders Editorial Team. In Asia, Crowdfunders.Asia is a leading portal on providing news related to crowdfunding, start-up, property and business. It is operated by CoAssets.com. CoAssets is South East Asia’s first listed and largest real estate crowdfunding platform. If you have any Crowdfunding news or stories to share, please email [email protected]