Is Your Invention Right for Crowdfunding?

You may be wondering whether or not your invention will find success through crowdfunding. Many different types of inventors and entrepreneurs have become funded through crowdfunding campaigns. Just because your invention may fit into a different category than other popular inventions that have been funded, does not mean your product can’t also raise money. Consider these few things to decide if your invention has what it takes to start a crowdfunding campaign. 

A growing public interest

Of course, not everyone will automatically know of your product immediately. A growing public interest could increase your chances of raising funds. If you have already begun the process of informing the public on your invention, and have a good number of followers, you should consider crowdfunding. This process can happen slowly, but it is important to grow the public’s interest in you and your invention prior to creating a campaign.

You can do this by having members of your family and close friends spread the word about your product. Give them their own prototype if one is available. If you are not yet at the stage of having a prototype, make sure they are informed on all of the details your invention will have to offer if it becomes fully funded. If they like your idea they will be sure to share the information with people who are close to them. 

Wide audience appeal

Many products that do well with crowdfunding appeal to a wide range of consumers. Pebble Time was a smart watch that was able to raise over $20 million through crowdfunding on Kickstarter. Many different types of consumers were interested in this type of technology, and were willing to give donations to make this smart watch a reality.

Even if you believe your product only fits a niche market, try to market your invention to appeal to a broader audience. Show the public why they would benefit from donating to your campaign, even if your product is not one that he or she is incredibly interested in. Give them other incentives such as being listed as a donor on your company’s website, or the ability to donate your product to someone in need.

Large social media following

An easy way to gain followers and interested donors is through social media. Many of the most successful crowdfunding campaigns gained a large social media following prior to launching their campaign. Many of their donations were received by individuals who followed them on different social media platforms, and were directed straight to the campaign page through links made in posts on various pages.

Before you can venture into creating your own crowdfunding campaign, you should develop a strong presence on social media sites such as Twitter, Facebook, and Instagram. Gain followers by sharing your invention’s posts to your own personal pages. You can even boost your posts with a set amount of money on sites such as Facebook.

You can’t let the fear of failing in your crowdfunding campaign keep you from trying to raise funds. All of the work and time you have put into your invention should also be put into your crowdfunding campaign. If you were able to obtain a growing public interest, a wide audience appeal, and a large social media following, then you could be ready to begin the development of your campaign. The obstacles in your way of receiving donations can be overcome, and you can be on your way to a positive crowdfunding experience.

The Importance of Networking with the Right People Before a Crowdfunding Campaign

When developing your pre-campaign, you will need to plan on networking. Networking is one of the most important aspects of attempting to raise funds for your invention. Even if you know the importance of networking, you may not know with whom to network with or how to make an attempt at networking. Here is who you should be networking with before your crowdfunding campaign and how.

Family and Friends

Some of the most important individuals to interact with when preparing for your crowdfunding campaign are friends and family. Reach out to those closest to you and who are the most supportive. The help from those who know you personally can be crucial.

If you are feeling nervous about asking your loved ones for donations, ask them to help spread the word about your crowdfunding campaign. Have them tell their friends and other family members. Soon, word of your invention and your campaign will spread organically. Remember, even if you are afraid to ask for help, these are the people who want you to succeed the most. Let them know about your exciting crowdfunding campaign, and how they can benefit by giving donations and getting the word out.

Colleagues

One of the easiest groups to network with are those with whom you are able to connect with on a daily basis. Your fellow employees and colleagues could be interested to know about your upcoming crowdfunding campaign.

Tell them how they can be a part of bringing your invention to life. Even if you are one who considers keeping business and personal life separate, consider giving them the basic details in a professional manner. Remind them that this is your business, and they too can benefit by becoming a donor. The ones who don’t wish to donate could still potentially be beneficial. Anyone who is able to spread the word about your campaign is someone worth networking. 

Your target market

When networking for your crowdfunding campaign, some of the most important individuals are those who fit your target market. These are the people who will most likely wish to give you donations in order to receive your product in return. Set one of your rewards so your potential market is able to give a set amount of money, and be rewarded with your invention.

When networking with your target market, make sure they are informed on how to receive your product ahead of time by donating. The idea of receiving a desired product before anyone else could give your target market the incentive to donate.

Social media connections

An easy way to network before your crowdfunding campaign launches is through social media. It is as easy as posting from your own personal page, and letting your friends and connections know the details of your campaign. Include a link to directly send them to your campaign site.

Sites such as Facebook and Twitter allow you to get your message to thousands within seconds. Consider making a social media account for your invention. You can gain followers by paying to boost your posts. Even sharing posts to your personal site could lead to more followers without spending a dime. Have your close friends share the posts to their page, and soon your message could reach nearly a million potential donors.

Crowdfunding is exciting, and you should not be afraid to fill everyone in on the details of your campaign. You never know how many potential donors you could be missing out on if you forget to network. Networking with the right people could lead to reaching your crowdfunding goal.

How to Create an Easy Lead Generation Site

When it comes to generating leads, one of the most important aspects is designing your website. You may be wondering where exactly to begin with development, but it is important to focus on the features that could help you gain leads. The process of creating an easy lead generation site begins with these simple steps. 

Use Powerful Wording

One of the most important aspects of your lead generating site is the component of power words. These are words such as “get” and “become,” that could give potential leads a better idea of the benefits they are gaining. For example, using a phrase such as, “Get the latest in technology,” directly tells those leads what benefits they could receive.

You may think that utilizing these words is a small detail, but the truth is, it could have a big impact on generating leads. Your invention’s site is an important way to inform leads as to why they should take action and buy your product. If you want your leads to understand the benefits to buying your product, you should integrate powerful wording into your lead generating site.  

Post forms on every page

It may seem obvious, but you may forget about adding easy access to a form that helps you generate leads. The form should ask a few general questions, such as name, email address, and phone number, in order to gain as many leads as possible. With fewer questions, it is more likely that they will take the time to fill out your form.

Even though you want your potential leads to easily spot the form, you should avoid making it a major distraction to your site. Your form should not take away from the site’s overall message and design. Try incorporating the form subtly into your website without hurting your chances of it being visible to visitors.

Utilize Customer Testimonials

For anyone attempting to gain credibility in his or her product, credibility can be gained in customer testimonials. It is so simple to search online for customer reviews about different companies, which could include your own invention or brand. Why not take control of your own reviews by adding customer testimonials to your site?

Customer testimonials can help you gain leads if you add them to your site. Once a potential lead visits your site and takes note of the reputable sources praising your invention, he or she is more likely to become a useful lead. The testimonials can be quick attention grabbers, or even a comment section for fans of your invention to leave their own praise.

Never underestimate your ability to easily gain leads through your site. By creating a well-designed website and incorporating these simple steps for your invention, you could improve your chances of gaining leads.

Why Millennials Love Crowdfunding

There’s no denying it – millennials love crowdfunding. People ages 24-35 are much more likely to donate to crowdfunding campaigns than those over 45, and 28% of crowdfunders are ages 24-35, more than any other demographic. Crowdfunding can be appealing to all ages, but why is it that millennials love it so much?

Already live on social media

Millennials were teenagers when social media started becoming popular, so they’ve spent their lives growing up with social media ingrained in to their daily lives. Many millennials have smart phones and use social media on them nearly constantly throughout the day. Social media and crowdfunding go hand in hand. It’s likely that millennials see many crowdfunding posts every day, whether it be from a Facebook post of a college friends or from a retweet from a celeb they follow. It’s likely that many millennials actually know someone who has run a crowdfunding campaign and see or interact with associated social media posts.

Like to support their friends

Millennials are busy. While they are some of the youngest in the workforce, they are also busy with raising young families, pursuing higher education, participating in local groups, and enjoying their hobbies and passions. With not a lot of time left to kick back and relax, it can be difficult to get a lot of social interaction or support friends in their equally as busy lives. Crowdfunding is a way for millennials to support their friends’ passions. By giving small amounts of money and sharing on Facebook, millennials can show they care for their friends, even if they are just taking the 5 minutes they have on the train between their job and their night class. Supporting friends who crowdfund is an easy way for millennials to show they care.

Way to get funding

Since millennials have been in the workforce a shorter amount of time as compared to older generations, they have fewer extra funds available for things like starting a business or getting started with their invention idea. Crowdfunding is a great way for millennials with big ideas to try and get the funding they need to chase their dreams. Since their friends utilize social media, they can easily get them on board with their campaign. Millennials have the drive, passion, and heart it takes to be successful and crowdfunding can help provide them with the resources.

Millennials are flocking to crowdfunding faster than any other demographic. It allows them to utilize the social media tools they already have, support their friends’ passions, and try and get funding they need.

Favorite Products That Got Their Start Through Crowdfunding

One of the best parts about being an inventor in 2016 is the opportunities through the online world. Luckily, there is a great tool for inventors online known as crowdfunding. Some of the smartest inventors know that utilizing crowdfunding is an awesome way to raise funds for their inventions and ideas.

The 3Doodler 2.0

You may have seen the popular 3D pen that took over with viral videos on social media. The 3Doodler 2.0 was the updated version that ran a second crowdfunding campaign. They called it a “sequel” campaign, and it raised over $1 million. Not only did they greatly surpass their original goal of $30,000, but they were able to do so in only 16 minutes.

Not only is this an amazing accomplishment, but it is also incredibly rare. The inventors behind this 3D pen spent more than two years redeveloping their product. Once it was time for backers to get their hands on the updated version, they were quick to jump on board as soon as the campaign was launched.

Prynt’s Instant Camera Case

If it’s one thing that millennials love, it is instant gratification. This is especially true when it comes to making memories last through photos. Prynt satisfied both of these needs when it raised over $1,500,000 through crowdfunding. Prynt is the first instant camera case for both iPhone and Android. It lets you print photos directly from your smart phone quickly and sufficiently.

People love different types of camera cases that can function as more than just something that protects your phone from damage. The idea of instantly creating hard copies of your memories sparked interest across social media sites. Even Buzzfeed got in on the action when it featured the printing case in one of its articles. More than 9,000 backers gave donations to Prynt’s crowdfunding campaign, and the printing case was able to become a well-known, viral invention.

The First Affordable Smart Watch

Gone are the days where smart watches were something only of a science fiction movie. Of course, a wide range of individuals are now able to own their own James Bond style watch. The very first smart watch available was the Pebble Time Smart Watch, which got its start with a successful crowdfunding campaign on Kickstarter.

When the campaign launched, backers were intrigued by the fact that they could now afford a watch with such modern technology. Pebble Time was able to reach $20,338,986, greatly surpassing their original goal of $500,000. Everyone wanted in on the action of being able to have a watch with spy capabilities! The first affordable smart watch gained over 78,000 backers.

Crowdfunding gives inventors more opportunities to not only raise funds, but potentially become the latest popular product on the market. Creating a buzz around your product through social media can not only help you raise funds, but help to make your invention more well-known.

Why Asking a Large Group for Smaller Donations Can Work Better Than Asking Billionaires for Funds

Over the past several years, crowdfunding has become the preferred method of attempting to raise funds for inventions. We have all seen reality television where a nervous inventor stands in front of billionaires, asking for donations to get their product off the ground. What if it did not have to be that difficult? Luckily, with crowdfunding, it does not have to be.

By creating a crowdfunding campaign, you are asking millions of potential backers for small amounts of funds. They will then be more willing to support your campaign. Don’t leave yourself relying on only one wealthy investor, but instead open up other opportunities with crowdfunding. 

Better opportunities for funding

When your only opportunity for funding lays in the hands of one individual, your chances of raising money decreases. With crowdfunding, you do not have to worry about appeasing one person. You can rely on attracting many different types of people who are willing to give you a donation.

Crowdfunding gives you a better chance at finding backers to fund your idea. Without a reputable site like Fund an Idea, backers may fear the legitimacy of you and your invention. This could mean they may not give you any money at all, even if they love your idea. 

Spread the word about your invention

Creating a crowdfunding campaign online for your invention lets you gain the opportunity to seek money from millions rather than just one main investor. By seeking these millions across the world, you are also letting everyone become aware of your product. One of the best parts about a popular crowdfunding campaign, is that it lets everyone know that you have this cool invention, and once it becomes funded, they can have one too.

People could be more likely to buy a product, or become interested in something if everyone is talking about it. Have your friends and family share your campaign on social media in order to spread the word about both the campaign as well as your invention. Ask backers to share to their own accounts once they have given donations. The more individuals that know about you, your product, and your crowdfunding campaign, the better. 

Stay in control of your company

Unfortunately, many investors are looking to own a portion of your company when giving you funds. With crowdfunding, you will not face this issue, and can remain in total ownership of your invention. Instead of asking for money in return for a portion of your company, you can give backers rewards that make their donations worthwhile.

Rewards can range anywhere from a small listing on your website as an investor, to sending your backers your product once it has become funded. Of course, you have to be able to live up to the rewards you promised, so set them to standards you know you can keep. You can even ask for dollar donations in exchange for campaign updates. Surprisingly, many individuals could be interested in giving a very small amount, just for the sake of helping you and your small business.

Crowdfunding could lead to many more opportunities than simply putting all of your faith into one or even a few investors. All it takes is some time and preparation put into making a strong campaign, and you could accomplish more than just simply receiving donations.

 

The Benefits of Backing a Crowdfunding Campaign

A crowdfunding campaign would be nothing without the backers to fund the idea. You may be wondering what the benefits are to backing a crowdfunding campaign. You may not have even realized there were any benefits at all. The truth is, there are numerous amounts of rewarding factors that go into giving your own funds to a crowdfunding campaign. Exploring a crowdfunding site could open up opportunities for personal benefits while simultaneously supporting an inventor. 

Rewards

A variety of crowdfunding campaigns will offer rewards for backing their idea. These rewards could entice you into giving a donation to an idea you find valuable. When funding a campaign, you could be rewarded anything from a discounted price once the product has been manufactured, to a free item related to the campaign. Free items could include t-shirts, exclusive add-ons to the product or even being listed as an investor.

Product specials could be a likely reward offered during a crowdfunding campaign. A campaign for MONKII BARS 2 offered a wide variety of kits to backers who pledged certain amounts. For example, pledging an amount of $98 to this specific campaign gave backers a travel kit as well as a free App to help them utilize the product on top of receiving the invention once it was fully funded.


Bringing New Ideas to Life

Something that has the potential to be incredibly rewarding is making an idea a reality. At one point in time, even your cellphone was simply an idea. Imagine a world where everyone is not attached to the smartphone in their pocket. Now imagine a world where an idea such as the cellphone could have come to life even sooner, through the power of crowdfunding.

For the inventors of FireFlies, wireless headphones were once just an idea. These headphones were only an idea, of course, until they developed their crowdfunding campaign. Backers gave donations of a variety of different amounts, and the invention is now expected to deliver in September.

Contributing to Something Important

You may be wondering how you can contribute to something by simply going on the internet. A perfect way to do this is by giving donations to a crowdfunding campaign. Crowdfunding campaigns could be for inventions of life-saving products or even just a product that greatly improves daily life. By backing one of these campaigns, you are contributing to something important.

For example, the crowdfunding campaign for Darma was able to become 564% funded to reach funds of over $229,000. Darma is the world’s first smart cushion that monitors posture, sitting habits, and stress levels. For millions of individuals who sit all day, this cushion could improve health and wellbeing for long-term improvements. With millions of individuals living unhealthy lifestyles while having to sit all day at work and school, the Darma is able to give their bodies back the physical attention it needs to survive. 

Supporting a Small Business

Small businesses are important to keep the economy thriving. When it comes to crowdfunding, many campaigns are run by a small business. Crowdfunding is the perfect platform for a small business to attempt to raise funds for their idea. By donating to their campaign, you could be supporting a small business in a big way.

For the small business, Kite Products, crowdfunding was able to raise $567,764 to become 743% funded. Their product, Kite Shield: DEET-free Mosquito Repellent Spray was at the forefront of their campaign. A crowdfunding campaign was able to give this small business more opportunities to network, get their name to the public, and eventually raise funds.

There are many different reasons to want to make a donation to a crowdfunding campaign. Exploring crowdfunding as an individual offering funds could be an incredibly satisfying process. You could end up finding the perfect invention to help out by giving funds.

So You Signed Up for Crowdfunding, Now What?

As an inventor, you are more than likely inundated with many questions about the next steps in developing your product. You know crowdfunding has been growing, with $34 billion funded through crowdfunding campaigns worldwide in 2015, but how? How will you get funded? How will you let the public know about your idea? How will you even begin this process? If you have pondered these questions and searched for answers, you may have found that it could be beneficial to sign up for crowdfunding. Creating an account is the first step in the process, but once you do, where do you go from there?                                         

Begin your prep

What many individuals who wish to create a crowdfunding campaign do not know is that you must prepare in advance. Prepping your invention and campaign 6 months ahead of time could be beneficial. Get your product ready as best as you can in order to try and receive the most funds possible during your actual campaign. Do your research to find out the best ways to run a crowdfunding campaign. You can even prep by taking quality photos if a prototype is available. Research to learn what the most successful campaigns did to become funded. It is important to prep yourself as well as your invention before planning in order to utilize the full potential of crowdfunding.

Make a plan

Like many parts of the business world that could benefit you as an inventor, making a plan could help you get your campaign to a fully funded status. Planning can not only give you a piece of mind during your campaign, but it can also give you time to develop the best campaign possible. Decide when exactly you are going to post to social media. Choose exact dates and deadlines. Even plan when you will give rewards to funders. Crowdfunding could be your invention’s chance at raising funds. Without a proper plan, you could be overwhelmed when your campaign starts, causing lack of motivation and momentum. 

Commit to your campaign

Once you have signed up for crowdfunding, prepped and made a plan, committing to your campaign becomes the focus. Why waste time and effort developing a proper campaign if you aren’t willing to give it your all when the campaign begins? Set aside time every single day to work on your campaign, whether it be for 10 minutes or 2 hours. Create yourself a schedule or lists of tasks, and from then until your campaign begins, work diligently on the items you have to complete. The more time you spend focusing on your campaign the more likely you are to reach your crowdfunding goal. All of these things could be more beneficial than simply sitting back and expecting to become funded without a solid commitment. 

Network

Committing to your campaign is important, but once you have decided to commit, it is important to network. If you feel as though networking is unimportant to your crowdfunding process, consider this; websites such as Fund an Idea can help you become funded much easier than finding funds on your own. However, you are solely responsible for sharing your campaign’s URL and encouraging people to visit your page. There is a possibility for thousands of other campaigns to be running at the same time as your own. By networking, you are giving your invention a chance at life. Informing your connections on campaign updates could allow for more awareness surrounding your campaign. The more people aware of your campaign, the more likely funders will become aware of it.

There are no exact, clear and defined steps and rules when it comes to the crowdfunding process. Every individual inventor’s campaign could be different. Luckily, there remain certain important steps in the process that could benefit your invention if followed correctly. Becoming fully funded can be a tricky process, but following these steps once signed up for crowdfunding can help lead to more opportunities for funding.

Lessons Learned from Successful Crowdfunding Stories

One of the best ways to attempt to gain backers in any business is by looking back on the success of those who came before you. When developing a crowdfunding campaign, you can learn lessons from the campaigns who flew past their goal by a mile. Find out what helped them to get fully funded and figure out how you can apply it to your campaign. Some crowdfunding campaigns flourished while adding these tips and tricks to their campaigns. 

Come Prepared

Anyone in business would tell you to prepare yourself before beginning a new project.  In the world of crowdfunding, planning and preparing is everything. This means spending a few months polishing your brand or product or developing a strong social media presence before the campaign begins.

Pebble Time, one of the most funded crowdfunding campaigns of all time, spent about a month developing content before launching its campaign. This content includes videos, photographs, and even a prototype. The inventors of the smart watch spent this time developing a prototype, writing their pitch, and designing the perfect campaign page. Pebble Time received funds of over $20 million; greatly surpassing its original campaign goal of $500,000. The inventors behind this smart watch knew to spend time in advance to make sure their campaign would raise as much money as possible.

Offer Great Rewards

The benefit for backers of any campaign is to receive rewards for their donation. Offering deals to the general public for when the product is fully developed could be one of the best ways to reach your goal. This then gives you the funds to get your product off the ground while also gaining fans and customers for your product. When someone finds a cool and interesting campaign, he or she might be willing to give funds if an awesome incentive is available.

The Coolest Cooler is a great example of a greatly funded crowdfunding campaign that offered great rewards to its backers. Their campaign offered discounts on future coolers to be shipped once the cooler was manufactured. Deals also included extra add-ons to coolers including speakers, phone chargers, and bottle openers. Backers jumped at these opportunities, funding The Coolest Cooler over $13 million past their goal for a total of $13,285,226.


Create a Video of Your Invention

Developing a quality video is a crucial part of your crowdfunding campaign. Videos that are short yet informative help give potential backers an insight into the benefits of funding your campaign. Let them know why your invention is different, important, or just simply cool. Give them a reason to want to fund your campaign while enjoying your video. Creativity is key!

The Flow Hive was a campaign for a product that makes harvesting honey from bees much easier. Its campaign featured a video that inspired backers to fund over $12 million. Their video featured an explanation on how the product works as well as its benefits for the bee farmer. The video was high quality and highly informative featuring a natural vibe with great lighting and editing. A natural theme gave the video credibility of being great for nature and beneficial for both bees and bee farmers. These awesome video features helped to give The Flow Hive campaign an advantage above the rest. 

Utilize Social Media

One of the best ways to reach both the general public and your niche audience is through social media. Your campaign benefits by posting frequent, engaging updates with interesting content. Posts can be made prior to the campaign, as well as during and after the goal has been reached. Share your campaign with friends, family and peers. They can then share with their own friends in order for you to receive the most attention possible for your crowdfunding campaign.

The World’s Best TRAVEL JACKET is an invention that raised over $9 million through its crowdfunding campaign. BAUBAX, the developer of this advanced jacket, developed a strong social media presence. The company posted frequent updates on the product’s Facebook page including images of prototypes and current funds raised. Once posted, friends and likers were able to share and comment on posts, creating a buzz around the campaign. They were able to reach a wider audience through this social media platform, as well as inform the public about the company and brand.

Of course, you will want an original campaign for your invention. Although this is true, you still want to take notes and find examples from fully funded crowdfunding campaigns of the past. It is encouraged to attempt to utilize the same tricks of the trade used by Pebble Time, The Coolest Cooler or The Flow Hive. It is okay to want to learn from the best and become confident in your very own attempt at crowdfunding.

Is Crowdfunding Right for Me?

As an inventor with a new idea, you may be curious about the world of crowdfunding. Crowdfunding is the process of connecting large groups of people over the internet, and asking them to support your idea through fundraising by making a financial contribution. This may seem big and scary, but yes, it is possible to achieve your goal on websites such as Fund an Idea. Although you know it can be effective, you may be asking yourself, “Is crowdfunding right for me and my invention?”

You have an Idea

So, you have an idea. Many individuals who have an idea for their invention are unsure of the next steps to take. If you do not know exactly what direction you should head, crowdfunding is a great place to start. Many different types of inventions have been funded through crowdfunding, from technology to home improvement and from childcare to office products.

You don’t have the funds

Many inventors have the idea, but don’t have the funding to produce their idea. Fortunately, crowdfunding is the best place to start for these types of inventors. It is okay not to have the funds yet! You are just starting out, and can look to crowdfunding to get the ball rolling.

You don’t have investors

It can be difficult to find investors who are willing to agree to not own a portion of your company. With Fund an Idea, you won’t have to worry about losing ownership of your business. Owning the rights to your invention is important to you and crowdfunding allows you to find backers who will donate for a small reward, not for a part of your company. 

You have a network of supporters

You can’t crowdfund alone. Your friends, family, and coworkers are absolutely essential during all aspects of the crowdfunding process, such as setting up your campaign, spreading the word, donating, and even just moral support. If you have a strong network of supporters, you are more likely to reach your crowdfunding goals.  

You’re savvy with social media

One huge aspect of crowdfunding is social media. Utilizing social media will help get your campaign off the ground and on its feet. The more Facebook friends you have, the probability of becoming fully funded could increase by as much as 40%. Building and maintaining a social presence will help inform the public not only about your campaign, but also convince them why they should donate.  Your friends will get to personally experience your campaign through your own posts and shares.

You’re ready to put in some hard work

Crowdfunding can become difficult at times. Dedicated inventors put time and effort into getting their campaign successfully funded. An average campaign can last well over three months. If you want to give your invention the best chance of success, you’ll want to put a lot of time and effort into your campaign.

No matter what your goal for fundraising may be, you may want to consider crowdfunding if you found yourself falling under a few of these categories. Crowdfunding could provide you with the opportunities for funding that you never imagined before. Don’t be afraid to give it a chance!

Inventors Can Learn from Inspirational Crowdfunding Campaigns

Without the great historical inventors of the world to come up with brilliant ideas that inspired generations, society would not have made such large strides and accomplishments. Unless you were well-connected like one of these famous and well-known inventors, such as Thomas Edison or Nikola Tesla, it would have been rather hard to inspire anyone with your idea.

Luckily, it has become much easier to reach the general public through the internet and other modern communication. Inventors have spread their inspiration to the corners of the earth by harnessing the power of crowdfunding. Here are a few inspirational crowdfunding campaigns.

Advancements in the medical field

Many adults and children suffer from stress, epileptic seizures, and sleep problems. The inventors of the Embrace Watch designed a product that would help monitor these problems on a daily basis for these individuals. They raised 514% of their goal, totaling more than $780,000, by appealing to donors with their passionate pitch.

Backers were inspired to help fund a product that could possibly save lives. Not only did they create a video detailing the product’s features and benefits, but they also used real footage to show how the watch worked. The video showed how the Embrace Watch improved the quality of life for a child with epilepsy. At the end of this video, the creators announced that for every Embrace Watch purchased, another would be donated to a child with epilepsy. This generous offer appealed to donors and encouraged them to support the project.

Advancements to everyday life

Travelers of business and pleasure alike face uncomfortable language barriers when traveling from country to country. Pilot, a smart earpiece that instantly translates languages, inspired backers to fund over $2.5 million dollars through crowdfunding.

 

The inventor spoke of his journey in creating Pilot in his campaign’s video. His story was about meeting a French girl who barely spoke English. He developed the translator because of her, leaving backers inspired by the tale of two lovers who found the solution to what was unavoidably pulling them apart. This true and romantic story allowed for backers to feel a real connection to the product and the inventor, encouraging them to fund the campaign.

Advancements in technology

Technology is one of the most popular and most funded categories in crowdfunding. The Spend Wallet did just this by creating a crowdfunding campaign for a wallet that digitally consolidates all of your credit cards into one secure device. The campaign raised $107,714 to become 346% funded by inspiring not just tech-lovers, but those who want to make spending safer and easier.

The campaign informed backers why they needed Spend Wallet technology through a video filled with valuable information and visual footage of the smart-wallet being used. Advanced technology that changes people’s daily lives, such as this wallet, could be enough to inspire the public to give funds. However, the featured video added to the allure of Spend Wallet by letting the viewer know that the funds will go toward a product that will forever change the way he or she handles money, credit cards, and transactions.

Advancements in security and safety

Security that is easily installable while also giving home owners and renters safety and peace of mind was the inspiration behind the crowdfunding campaign for Korner. Korner, known as home security for everyone, became 278% funded and raised more than $430,000.

Backers of the campaign were immediately directed to a video that inspired them to fund the security system. The less than two-minute video showed how easy and quickly the system was set up, giving the system credibility in being “for everyone”. The video also made backers aware of the affordability of Korner, proving that more homes could become secure for everyone, not just those who can afford a high-end security system.

Inspiring anyone can be a difficult task, but if you are able to do so through your crowdfunding campaign, you could be able to reach your goal. Not every campaign is ultimately inspiring right off the bat, but with a little work and video development, you could potentially encourage backers to fund your crowdfunding campaign.

How to Use Facebook to Help Your Crowdfunding Campaign

One of the best ways for your business to connect to the world is through social media platforms. Among the many different social media outlets, Facebook is the most popular for both business and personal life. For a crowdfunding campaign, this could be the perfect combination for raising funds. Friends, family and even strangers could find your product on Facebook, become aware of your crowdfunding campaign, and decide to give your invention their donations.

Connect with Friends and Family

If you have already joined the millions of individuals signed up for Facebook, you know that it is one of the best modern ways to connect with friends and family though the internet. For a crowdfunding campaign, a solid support system of friends and family could make an incredibly positive impact on your campaign. It’s essential to have 30% of your goal in pledged donations on day 1, and this usually comes from friends and family.

Friends and family might be more likely to want to support you and your invention, because they know you personally, and will want to support your endeavors. Don’t fear asking them for help when it comes to your Facebook page. Have them like and share your posts as much as possible. Ask them to comment on your invention’s post, especially once your invention’s Facebook account is new and still on its way to gaining content, followers and engagement.

Gain a Following

Crowdfunding is an attempt to gain small donations from a large group of people. By gaining a strong following, you could increase your chances at finding backers. One of the best ways to do this is by utilizing Facebook to its full potential.

Creating a solid Facebook account for your invention is the first step in the social media process; but finding followers, other than your main core of friends and family, to like and share your posts is also crucial. Start by sharing posts from your personal account. Once your friends see the post, they could then share to their own wall, reaching an even wider audience. This cycle continues to grow as more and more Facebook members like and share the content created for your invention’s Facebook page. Offer your loyal followers campaign insight for being a part of your Facebook network.

Post Frequent Campaign Updates

Once you have developed your following, give those followers frequent and informative updates. According to an article on Entrepreneur written by Kendall Almerico, “Successful crowdfunding through social media requires planning, dedication and determination.” Don’t simply hope for the best and post irrelevant content. Instead, these posts should be made before your campaign even begins. Announce the dates of your campaign as well as the funding goal and rewards offered for donations. You can even create a countdown on your account to the start of your campaign. This will get your followers excited and let them know ahead of time to prepare to offer donations.

During your campaign, keep your followers in the know on where you are with reaching your goal. Create posts that draw attention toward your campaign by using rewards if they have not already given funds. Those who have already donated may even want to give more funds in order to see your invention become fully funded, so letting them know where you are through your Facebook posts could be crucial. Inform them if you hit 25%,50%, 75% and 100% of your funding goal.

Boost Your Posts

Unfortunately, sometimes simply posting to your invention’s Facebook account is not enough to gain the recognition your campaign needs. According to Almerico, “Gaining financial support through social media is not as simple as posting a picture of your lunch on Facebook or retweeting the latest joke from Jimmy Kimmel.” Luckily, there are tools on Facebook to reach Facebook members who you could not reach by simply creating a post and clicking share.

By utilizing Facebook ads and boosting your posts, you could reach a wider range of individuals. You can even adjust your settings through Facebook to fit your target audience. Facebook allows you to target by age, gender, interest, and more. Set your own budget based upon your personal needs, and let your boosted post run for as long as necessary to reach your potential backers.

Facebook has become an important staple in the world of business. Both small businesses and large corporations utilize this form of social media to network and advertise, so don’t fear that it is not meant for your invention. Developing a strong presence on this social media platform can have a big impact on your campaign.

How Crowdfunding Has Created Thousands of Full-Time Jobs

When any new business becomes successful, new jobs are bound to follow. As crowdfunding has begun to grow and develop, both part-time and full-time jobs became available for thousands. New job opportunities on this scale result in economic growth and development.

According to CNET, Kickstarter alone created 283,000 part-time jobs for creatives and 29,600 full-time jobs since launching in 2009. Whether it is jobs in creating campaigns, or jobs that were created after successful campaigns became funded, these meant stability and progress for thousands of individuals.

New Jobs in Various Fields

One of the best parts about the jobs being created by crowdfunding, is that these jobs are diverse. These new positions being created do not just cater to one specific field. Jobs in creative, customer relations, and legal consultation are just a few of the wide variety of jobs becoming available. Successful crowdfunding campaigns needed to hire more individuals who are qualified in these fields to develop their campaign and eventually hired even more to bring their invention to life.

Crowdfunding means new job opportunities to thousands struggling to maintain a job in their passion or field of study. Since there is such a large amount of different types of jobs, the individuals being hired are diverse and come from all walks of life. This has benefits to both the crowdfunding industry, as it builds a bigger network, as well as benefits the individual receiving the new job.

New Companies

If a crowdfunding campaign becomes successfully funded, there is a greater possibility for new companies to grow. Company growth means more jobs in development and production of new products. When a crowdfunding campaign reaches its goal, the inventors behind the campaign know it is their chance to strike while the iron is hot. This means, hiring new individuals to get their business on the right track.

Many new companies gained notoriety after reaching their crowdfunding goal. The Pebble Smartwatch became a household name when it reached $10,266,845 in 37 days, but when production of the watch was stalled, backers became upset. Even the most famous name in crowdfunding quickly learned that in order to give backers what they guaranteed as a reward, they must hire more individuals to carry out their claims. By hiring more people, they increased their productivity and improved their customer perception.

Benefits to the Economy

New jobs have incredible benefits to the economy. With the numbers of new jobs created through crowdfunding being well into the thousands, the benefits are huge. More individuals being given jobs stimulates the economy and increases consumer spending. Unemployment rates affect your local economy as well as the nation’s economy, so hiring more individuals because of crowdfunding benefits the economy at both the local and national levels.

Not only does crowdfunding raise money for an invention to become a product sold in stores to boost the economy, but it creates more jobs that boost the economy. A study from the University of Pennsylvania found that for every 1,000 projects started on Kickstarter, 82 full-time employees were hired. These numbers would not have been possible prior to crowdfunding becoming a popular way for you to raise money for your invention.

Being able to create jobs that benefit the economy is a difficult feat. Through crowdfunding, there has been an improvement in the amount of jobs offered to individuals in the creative field, in public relations, and even in law. Crowdfunding has accomplished a lot in its recent history and creating new jobs is how it affected thousands of lives for the better.

Crowdfunding: Best for Niche Products or Products Fit for a Wide Audience?

When doing your research to find out whether or not crowdfunding is right for your invention, you may question which audience is best for crowdfunding. You may have a niche product or a product that the everyday person would enjoy.

Whether you are someone whose product appeals to a small or large audience, there is a place for you in crowdfunding. Individuals of a wide variety are online daily. That means it is likely that many different individuals are also on crowdfunding sites. Based upon how well you’ve established your crowdfunding campaign, you could be able to reach your crowdfunding goal no matter the product type.

Benefits for niche products

One of the best parts about the internet is that millions of individuals from around the world are constantly engaging online. When a website such as Fund an Idea launches, anyone from your hometown, to a city in Asia can find your crowdfunding campaign, and give donations. When you view it from this perspective, it is easy to realize that a “niche” product may not be so niche for citizens of a country miles away from your own. Your product could be one that improves the lives of thousands of people from a different culture.

Hatch, a notebook exclusively for “makers and entrepreneurs,” was able to become 262% funded through crowdfunding. The notebook raised $40,896 by creating a campaign that made anyone feel as though they are an entrepreneur, and could use this notebook. Clearly, actual makers and entrepreneurs are only a small market, but by developing a campaign that made them feel as though they could be one, it led to more donations and a successful crowdfunding campaign

Benefits for everyday products

Inventors with ideas that appeal to a wider audience may feel as though they will easily receive donations. The truth is, without a well-developed campaign, your product could still fail. Even the most relatable invention could face a lack of funds if the campaign is not done properly. This means, it is important to take time on your pre-campaign, nurture your campaign while it is live, and do everything you can to follow up with your rewards after your campaign has ended.

Food products easily attract people from all around the world. Even though many different cultures eat in different ways with different spices and flavors, we can all still relate to certain food products. The Field Skillet did just this when it raised $1,633,361 through its crowdfunding campaign. Of course, a skillet is something almost everyone from all walks of life utilize when cooking, but without their hard work and dedication throughout their entire campaign, they would not have been successful. 

Benefits for both

Crowdfunding can be an incredible journey for a variety of different inventions and ideas. Even if you believe that your product is only for a niche market, you could become funded by taking the time to develop and fine tune your campaign. Watch webinars, do your research, and look towards successful crowdfunding campaigns in order to create your own.

Even if you do not believe that crowdfunding is the direction in which you and your invention should be headed, you should take the time to research the world of crowdfunding. Learn the ways you can ask for small donations in a way that suits you the best. Most of all, be confident and work hard in order to give your type of invention its best chance at receiving funds.

Crowdfunding Tips You May Have Never Heard Before

Learning about crowdfunding can be beneficial to you as an inventor and entrepreneur. Asking a large audience for small donations could be more effective than asking one investor for millions of dollars. The more knowledge you are able to gain on the topic, the more prepared you will be for your own crowdfunding campaign.

You may have done some research on the basics of starting a crowdfunding campaign, but there could be even more information out there you may have never heard before. Watch video seminars or analyze the crowdfunding campaigns that went above and beyond their goal to see what they did to excel beyond the rest. 

Begin planning 6 months in advance

When it comes to preparing for your crowdfunding campaign, you may not have ever heard that it is important to start planning at least 6 months ahead of the launch of your campaign. You must give yourself enough time to have every detail of your campaign strategy fully mapped out and ready to go.

Even if you do not think you will need that much time to prepare, remember that the top crowdfunding experts in the country, including crowdfunding attorney, Kendall Almerico, give the advice to prep 6 months in advance. This includes building a crowd of supporters, creating a calendar for social media posts, developing enticing rewards, and making a high quality campaign video. All of these things take time, patience, and effort; so giving yourself 6 months is a good beginning to your crowdfunding journey. 

Add a partner to your crowdfunding team

Some may not be aware, but adding a member to your crowdfunding campaign for support on various aspects of your campaign could improve your chances at finding funds. Even simply having another person on your side to spread the word about your attempt at finding funds could help your chances.

There are many different reasons to add someone to your team. Pick someone whose strengths complement yours so your campaign is well-rounded. Ask them to spread the word through posts on social media. This gives you a whole new list of friends to become aware of your invention’s campaign. You could even put someone else in charge of your company’s social media sites while you focus on other aspects of planning. Finally, don’t be afraid to ask your team member for a small donation as well. More than likely, becoming involved with you and your invention has made them personally invested and could result in them being more willing to give you a donation.

Set a realistic crowdfunding goal

There is a possibility that you are under the impression that you should set your crowdfunding goal at a high number in order to attempt to raise a large amount of funds. Setting your goal at $3 million may sound as if it is a good idea, but the truth is, setting your sights that high could do more harm than good. In order to increase your chances at finding success through crowdfunding, you should be setting your goal at a realistic number.

Decide your goal amount based upon what the money being raised will go towards. This will make your goal seem more credible to potential backers. Once you begin to raise funds, your campaign will show what percent you have reached of your goal. The higher the percentage, the more impressed viewers will be with your campaign, and could be more likely to give their donations. People want to donate to campaigns they perceive as winners. There is potential to exceed your crowdfunding goal and gain credibility for your invention. Chargemander, the battery case for mobile gamers, raised 277% of its goal. The charging case set its goal at $15,000, but was able to pass that goal, reaching $41,679. This gave the campaign an overall better look, and might have helped them raise funds.

Even if you think you may be aware of everything there is to know about crowdfunding, never stop trying to learn more. It may seem as though crowdfunding is a basic and simple process, but the truth is, it can be rather challenging. Take it from the experts, who will be the first to tell you that it can be difficult, but that it can also be beneficial. Be willing to grow from these tips you may have never heard before in order to develop your crowdfunding campaign.

Lessons Learned from Failed Crowdfunding Campaigns

In order to do great things, you must look toward those who came before you. Unfortunately, there were those who created crowdfunding campaigns before you that did not find success. Don’t be afraid to research those failed campaigns, as well as the successful ones and learn lessons from them. You can gain a glimpse at how you could potentially avoid such failure.

There is no guarantee that you won’t fail if you do not take the time and preparation necessary to make a good crowdfunding campaign. Even with the most amazing new invention, you could fail if you are not dedicated enough to your campaign. Don’t risk failure and pay attention to the mistakes of those who came before you, taking lessons from what they did.

Not taking your pre-campaign seriously

Many inventors seeking funds tend to be under the impression that the majority of the work needed for a crowdfunding campaign, should be done during the launch of the campaign. This is not true, in fact, most of the work done should be completed prior to the campaign start date, but where does one begin? Those who do not seek the answer to this question end up failing to raise funds through crowdfunding.

At least 6 months prior to your attempt at seeking small donations from a large audience, you will want to focus on the planning of various aspects of your campaign. This includes developing a video, establishing a social media presence, creating rewards, and getting your invention ready to prove to backers that your idea is worthy of their money. Do research online and even watch videos that will map out the best ways to work on your crowdfunding campaign.

Developing a low-quality video

The very first thing a potential backer sees when viewing your campaign site, is your video. A low-quality video, or even no video at all, turns people away from your campaign immediately. Think of your video as your best chance at an attention grabber. All of your efforts to draw individuals into your campaign could become pointless if once they make it to your site, there is nothing to keep them there.

Fortunately, a good campaign video could help your chances at holding the interest of those who have already made it to your page. Your video should be informative, but maintain elements such as quality images and sound, in order to keep backers watching your video for more than 10 seconds. An invention with a great campaign video is the Coolest Cooler, which was able to receive funds of $13,285,226. Their video briefly told the story of how the product came alive, explained what the cooler had to offer, and why it was worth a backer’s money to give donations.

Failing to utilize social media

For any business or new product, establishing a presence on social media could be beneficial. The same rings true for your crowdfunding campaign. Those who do not make an effort to utilize the power of social media, might not reach their desired funds if things such as Facebook or Twitter are not used properly. This does not mean that simply creating a page for your campaign will lead to success, but it is a good place to begin.

Start by creating a presence on a social media platform such as Facebook. You can ask family and friends to like your page as well as share your page’s content. Facebook also lets you pay money to “boost” your posts to those who have similar interests to what your invention has to offer. Once your campaign has begun, these posts can even lead those interested directly to your campaign site. Create a calendar to plan out when you will be posting things such as pre-campaign updates and other materials designed to grab the attention of potential backers. This includes, but is not limited to, blog posts and general product promotions.

Neglecting your campaign

Once you have put all of your effort into your pre-campaign, you must not give up when it comes time for your campaign to launch. You can’t expect to raise funds if you do not do more than simply keeping an eye on your campaign every so often. It may seem tiring and time consuming to continue posting to social media and monitoring your campaign, but no one ever said crowdfunding was easy, but they did say it was worth it.

During your campaign, be sure to keep track of how well it is performing. If it seems to be falling behind, try posting content such as your campaign video to social media or asking friends and family to help spread the word. Don’t give up just because you did not gain the funds you wanted within the first 24 hours. Instead, decide what more you could be doing to interest your backers.

Crowdfunding can be difficult and even stressful at times. Luckily, with research and education, you can learn lessons about how to create a campaign that could become successful with hard work and dedication in all stages of your project.

How to Run a Crowdfunding Campaign on a Tight Budget

The old saying goes – it takes money to make money. Many entrepreneurial experts argue on the truth of this statement, but they can agree that when it comes to crowdfunding, you have to be willing to put money into your campaign to tell your story, create compelling creative materials, and reach your audience. You don’t need to empty out your wallet, though. Although it is impossible to run a completely cost-free crowdfunding campaign, by setting a low budget and realistic goals, you can run a crowdfunding campaign on a budget.

Calculate your Budget

Before planning many aspects of your crowdfunding campaign, consider your crowdfunding goal and how it relates to your campaign goal. The higher your crowdfunding goal, the more money you should budget for building your campaign. Identify an amount you would be comfortable spending to build your campaign. Allocate it to the various aspects of your project: photography, videography, marketing, public relations, printed materials, and unexpected costs. Remember to leave a little wiggle room just in case not everything goes as expected. Once you have set your budget, stick to it.

Do it Yourself

When you have a small budget for your campaign, you will have to take on all of the aspects of your campaign on your own. Instead of hiring a photographer or videographer, utilize your smartphone’s camera. Many iPhone and Android smartphones have high resolution cameras capable of taking excellent photos and videos. If you don’t have a smartphone or would like to go an alternative route, look into renting photo and video equipment from a local business. Checking out photography guides online can help you utilize better lighting techniques and other tactics to enhance your campaign materials.

Search for Free Tools

There are many free tools out there that can help you with building and promoting your campaign. With free website builders such as Squarespace, you can create an excellent brochure webpage that can help you explain your invention and gather emails of people who are interested in your invention before you actually launch your campaign. With website builders, you can create a professional looking webpage without having experience in web design. There are also other free tools, such as Hootsuite, that can help you schedule your crowdfunding social media posts and view data relating to your invention’s social media presence. Additionally, some websites, such as CrowdfundingPR, allow you to list your invention’s crowdfunding press release on their site for free. This allows you to get exposure for your campaign without paying for advertising.

Create an Army of Volunteers

Your friends and family can be huge advocates in your crowdfunding campaign. Ask them for help whenever possible, whether it be for spreading the word on social media, passing out fliers, or helping you create your materials. Utilize your friends and family member’s talents for your campaign – if they volunteer, of course. Getting your friends and family involved helps them to learn and care about your invention crowdfunding campaign, teaching them to become great advocates. You can never have too many people helping you out!

Running a crowdfunding campaign does require an initial investment, but it is possible to run a crowdfunding campaign on a budget. Carefully calculate your budget, complete many of the tasks on your own, search out free tools, and gather an army of volunteers to help you build and spread the word about your invention’s crowdfunding campaign without breaking the bank.