Recently, I ran my first-ever crowdfunding campaign to launch my fashion brand’s new product, The Unblazer. Most people see the benefits of crowdfunding when you’re first starting out your business and want to introduce your key products to potential consumers. But, you shouldn’t discount crowdfunding as a way to introduce an innovative new product even if you’re already an established brand.
So when should you consider crowdfunding, and how do you ensure that your crowdfunding campaign is successful? Through this experience, I definitely learned the do’s and don’ts of crowdfunding on topics including budgeting, paid advertising, influencer marketing, and perks.
On this week’s episode, I’m sharing the lessons I learned running my first crowdfunding campaign.
In the end, our campaign was a success, reaching 357% of our goal. But it definitely took a lot of coordination and behind-the-scenes logistics to get there. If you’re looking for a way to introduce your innovative product to a huge audience, crowdfunding may be an avenue you want to look into.
Have a listen to episode 5 from season 3 of Brave and Boss: The Podcast on iTunes or Soundcloud.
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KEY INSIGHTS FROM THE EPISODE:
- How early should you start planning your crowdfunding campaign?
- Which products should you consider crowdfunding for?
- The different crowdfunding platforms you can use
- How to determine what perks you should offer to your backers
- The best ways to successfully market your campaign