Since I launched the crowdfunding marketing consulting arm of my business, I’ve been fortunate to be involved in a number of very successful crowdfunding campaigns (mostly on Indiegogo, a few on Kickstarter).
Due to the massive success of the crowdfunding industry, the perception is that it’s “easy”. Many individuals and businesses are jumping on the bandwagon, anticipating their idea on the back of a napkin will have brought in six-figures in funding by the end of next month.
Unfortunately, this leads to much frustration and many failures. In fact, almost 80% of Indiegogo campaigns fail.
There are a number of core elements required for a successful campaign, from marketing to manufacturing, and the mistakes I’ve seen made could be a book.
In this post, however, I wanted to offer an insight into a few key questions that ought to be asked right at the start. Questions that, if asked, can prevent a campaign being doomed before it even begins.