In a consistently evolving marketplace, businesses struggle to keep up with the latest technology and innovation. Corporations move at a snail’s pace, conferring millions to research and development, while well-informed entrepreneurs often innovate in months and sometimes even in days or hours. As a result, crowd funding coupled with email marketing and social media advertising is positioning small businesses to hire top business consultants in Melbourne for innovation and information services.
If you are new to this field, crowd funding means the process of raising funds online from a large number of individuals to finance a new business venture. Crowd funding market is expected to increase to between $90 and $96 billion, which is approximately 1.8 times the size of global venture capital industry today. However, with this growth comes greater competition and simply building a crowd funding campaign is not enough. In order to succeed you need to capture the attention and imagination of the crowd.
So how do you do it? TR Consulting, one of the reputable consultants in Melbourne is here to help you supercharge a successful campaign with their tips.
- Define your target audience
Defining your potential target audience according to location, gender and age will bring you closer to the mindsets of your customers and will help you position your venture from the correct point. To better understand your audience’s interests it is better to know what problems they experience? What products or services they use? What idols they have? When you know this all, try to connect with like-minded individuals and organisations. They will be your support team and hopefully your backers, so it is vital that you become part of their community.
- Make your Project worth Sharing
Your entire project has to revolve around an idea that generates excitement among your target audience. It should be explained in one sentence and read like a newspaper headline. The only way to meet your crowd funding goals is, if you are making something truly special otherwise, few will want to share it on social media.
- Start Early
To hit the mark you should start to get the word out there early. The best time to start is 3 months prior to the launch of your campaign. The biggest advantage of starting early gives you time to reach out to press personalities and bloggers who might be interested in your product. If these people like the story you are telling and your organisation’s vision and mission then you are off on a good path.
- Have a Budget
The idea crowd funding concept is that you don’t have to spend money, well this analogy is totally incorrect. It costs money to design your campaign, create appropriate lists, Facebook ads, review copies of the product, copywriting and much more. Arguably, you can spend nothing, if you choose to, by creating a buzz of your upcoming crowd funding through social media and distributing press releases to other channels online. However, spending some money will polish your campaign and help it stand out from the crowd.
These are some of the important tips for a successful crowd funding campaign.