How to Plan the Right Sized Marketing Budget to Conduct a Successful Crowdfunding Campaign

By Robert Hoskins. The #1 Mistake that Crowdfunding Campaigns Make Is Not Spending Enough Money on Marketing to Reach a Sufficient Universe of Potential Donors/Investors to Complete a Successful Fundraising Campaign
For Fortune 500 companies in the United States, launching a successful product or service involves many months of research, product development, focus groups, and beta testing before introducing a product or service into a competitive marketplace.
In addition, successful campaigns hire professional advertising, marketing, PR and social media firms that know how to target and reach a very specific target audience with carefully engineered marketing messages designed to elicit a predetermined response rate such as making a donation or investing in a small company’s equity stock. Success is very rarely achieved by building a single-page crowdfunding profile  with limited company or product information and hoping that there is enough website traffic on sites such as Kickstarter and indiegogo to find sufficient donors to push a crowdfunding  campaign reach its financial goal. This is reason that Kickstarter campaigns have a 65% failure rate and more than over 90% of indiegogo campiagns fail to achieve a 100% funding rate. Read more...