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Thread: The real reason your Crowdfunding campaign failed

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    root Array Harold Mansfield's Avatar
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    Default The real reason your Crowdfunding campaign failed

    We get a lot of questions about Crowdfunding campaigns and try to hit on a few key elements that successful ones have. This Fast Company article gets down to brass tacks and describes the things that you need to take seriously and do well to have any hopes of having a successful one yourself.

    Whether it’s Kickstarter, Indiegogo, GoFundMe, or any of the other thousands of sites out there, no crowdfunding platform can source funders or market a new product or service all on its own. The crowdfunding campaign can do that, but the platform can’t.

    It’s a subtle yet crucial distinction—and one reason so many crowdfunding efforts fall flat. The sole purpose of the platform itself is to facilitate payments! The rest of it is good, old-fashioned networking. Here’s how to get it right.
    You read the rest of the article here: https://www.fastcompany.com/3066606/...nked-this-year

    Has anyone here tried crowdfunding? If so, how did it work out for you?
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    I haven't used crowdfunding to raise money for anything, but I have supported a few people on Kickstarter. I supported the people and not the specific project. In all cases the project was created by someone I followed elsewhere, usually through their main site. That would be where I heard about the crowdfunding.

    I think a lot of people thinking the crowdfunding site is going to help with marketing, but it won't. It's just there to help facilitate the payments. You have to market your projects somewhere else and direct people to the crowdfunding site. That means before crowdfunding is going to be successful you probably need to have a large number of people already paying attention to you or you have the means to run a large enough campaign to draw them to you or your project.
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    Discount Prodigy Array Owen's Avatar
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    Quote Originally Posted by Harold Mansfield View Post
    We get a lot of questions about Crowdfunding campaigns and try to hit on a few key elements that successful ones have. This Fast Company article gets down to brass tacks and describes the things that you need to take seriously and do well to have any hopes of having a successful one yourself.



    You read the rest of the article here: https://www.fastcompany.com/3066606/...nked-this-year

    Has anyone here tried crowdfunding? If so, how did it work out for you?
    I've supported a couple projects on Kickstarter, mainly since that's the closest I'll get to investing for another 211 days. Anyways, there's been a couple that got very close but failed because of their all or nothing policy. I did a Kickstarter and got like $5 ):

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    I have a sour taste in my mouth from the crowdfunding sites. I've never used them for a project but started developing one once when I was on the board of a nonprofit. (I dropped it after I learned that the parent nonprofit had already built the facility that I was going to fund-raise for - ungreat communication there!) My sour taste is actually from the enormous difficulty I had fundraising in general for the non profit, and then heard about that idiot who raised a million dollars or whatever for a potato salad recipe. When people are that irrational, there's just no winning.
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    root Array Harold Mansfield's Avatar
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    I've funded a few who offered the actual product in return if it was funded. Most turned out good, and I got the products. Of those, they went the extra mile and showed me how far they've come on their own, using their own money, taking risk themselves, had a professional presentation (at least tried), and generally looked serious.

    I have never and would never back someone who just plops up a page, proclaims how great their idea is, and seems to just sit back and wait for people to give them free money before they take any risk themselves or at least tries to show some kind of prototype.
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