Entrepreneur Magazine, long the news outlet for the voraciously consuming small business owner focused on tips for growth, published a very concise and common sense article about Crowdfunding. Having been around the media world for as long as I’ve been, this means one thing. Crowdfunding as a news topic has gone mainstream.
Basically, the theme of the article focuses on the role social media plays in crowdfunding and why building a proper social media campaign has a direct effect on the outcome. Without question social media is crucial to the campaign. For starters word of mouse via Twitter, LinkedIn and Facebook spreads the word, allows the campaign organizers the ability to build followers, secure positive sentiment and expand their audience. But doing all the work to create critical engagement isn’t easy. If it was, then every campaign would be successful from the moment its launched. But we know that’s not true.
One of the tools that can help is our own Velocity Kick service. Started by our Chief Platform Officer, Josh Baylin, Velocity Kick optimizes rewards based campaigns by organizing, optimizing and understanding the launch team’s social equity. It does this by uncovering the key influencers, targeting hidden networks and acting on the insights learned through the interactions with network members. Not content to simply say VelocityKick can work, the team there is running its own crowdfunding campaign to kick start it’s own fundraising.
The story mirrors a niche media item over on Crowdclan. There, the post of a few days back entitled “Use Social Media to Research Your Crowdfunding Market” makes similar assertions. Key takeaways are: planning, preparation and persistence with a subtle push in the direction of choosing the right tone and manner in your messaging.
The bottom line here is that crowdfunding is no longer for the struggling entrepreneur who was fund raising challenge. With rewards and equity models at play and available to them, mounting smart campaigns that are well planned and prepared for can be the difference between “the joys of victory and the agont of defeat.”