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Over the last few years, crowdfunding has surged in popularity, from product campaigns to funding personal trips to monthly donations to keep the lights on.
Something incredible about crowdfunding is its ability to bring the idea of investment to a lower level. Previously investment seemed daunting and so far away, when it required thousands upon thousands of dollars to pour into stocks or bonds or real estate. Today, it seems so simple.
Unfortunately, many people do not view crowdfunding as investment. It’s easy to see a new product that could be and pay for it, viewing it as a purchase instead of as a risk.
When your brand or product is based on crowdfunding, you are producing brand equity and perception. You are creating an environment for your customers to see you in a certain way, and you must be prepared for however that unfolds.
In today’s episode, we’ll be discussing the pros and cons of crowdfunding to help you evaluate if it’s right for your brand.
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