Crowdfunding is rapidly evolving into one of the most popular ways to raise money, awareness and support for projects. It enables individuals and groups to make their ideas into a reality with supporters uniting from all across the globe. Although crowdfunding was once a niche market for those who could not get financing, it has now gone "mainstream" with active global crowdfunding platforms generating more than USD $30 Billion to date. This explosive growth has helped spurred many innovative products into the market with consumers expecting bigger and better things as time goes on.
Though you may already be familiar, most popular crowdfunding platforms include kickstarter, Indiegogo, RocketHub or Onevest. Despite the different platforms and unique offerings, at the heart of it they are all essentially focused on crowdfunding. Creating a successful crowdfunding campaign is not as simple as hitting submit and waiting for it to go viral. Even if this has happened to many brands, for most of them it will require a large amount of effort. The utilisation of social media and the preparation of the content by showing a powerful reason behind the idea, an exciting reward of a campaign is definitely key.
Crowdfunding is not only for individual or Start ups. While it creates funding opportunities that small businesses may not get in a traditional way. It is also a great opportunity for established companies to launch new and innovative product and get a first taste of the market.Crowdfunding has proven itself as a great mechanism to source potential customers and grow an audience.
A great additional advantage to crowdfunding, is its economical benefit. Apart from funding small businesses, generating income and creating employment, it also encourage entrepreneur to create, innovate and move forward. Crowdfunding is a great asset to businesses and entrepreneurs, generating revenue and increasing the customer base. Will it become the new way for small businesses to fund their businesses and compete with angel investors and venture capital?