Crowdfunding has fast become one of the latest online market trends. And it’s taken off because it’s on to something good. Something so good it’s giving power back to the people and taking a portion or two away from corporate conglomerates and company powerhouses.
It’s levelling the playing field where individuals and corporations can go head to head for brand visibility and providing a new set of tools to help kick off an economic revolution. I don’t know about you, but in my humble little world, this is bloody excellent.
1. We have a new superpower
The marketing strategy that’s hiding behind this new trend is already pretty well known and used in traditional business. It’s a basic concept written into the marketing plan of most successful businesses: To create loyal evangelists of their brand (preferably for life).
Crowdfunding has created the platform for everyone to do exactly this. An individual now has the power, and means, to place their creative expression out into the world and build a following, start an empire and make a future. And all with a handy little device, connected to the internet.
—Brian Fargo, successful Kickstarter project creator
2. We can take on our destiny
This new take on putting yourself (and your product) out there, looking for loyalty and love, gives instant validity to your idea, concept, book, event or self-expression. You get instant gratification or instant opportunity to improve. It is proving that individuals, groups or anyone has the accessibility to get out there and be seen, on a global scale, without any real need for formal education, professional training or a huge amount of cash. Sure it might help, but it’s not required.
Previously, this global marketplace was dominated by the big business corporations with their really big budgets and teams of professional workers, who could afford to seek and conquer to this scale in the past. Excitingly, along with the other technological advances we’ve made to date, this has further reduced the barriers of entry for everyone and anyone to become, what I refer to as, a creative entrepreneur and offer the freedom to complete meaningful, creative and joyous “work” – that you love to do.
3. We can change our world (and start a revolution)
Crowdfunding is empowering individuals of like-minds to put their money where their mouth is and protest for the good of a product or a service. Or a person. Or even a belief.
The successful growth of my previous company, Relish This, is evidence of this, but in a pop-up brick and mortar kind of fashion. My market stall was my pop-up shop, which began at one or two farmers markets a month, eventually touring to as many as I, and Mr Relish, could physically get to within the greater Sydney area. Ok, perhaps the relish being delicious (and gluten free) possibly helped a few sales, and Mr Relish’s saucy good looks behind the occasional stall may have swayed a customer or three as well, but in all honesty, our growth and success came down to the power of the crowd.
The people who loved my product and the people they shared, told, gifted or encouraged to try it with, allowed my humble little homemade hobby to grow into a successful six figure business.
People actively chose to support the little start-up trying to make a difference; chose to participate and be involved in our journey and connect with our likeminded values; and thankfully chose to back my business by buying a jar or two of relish.
Crowdfunding platforms and what they represent are feeding the momentum of a global marketplace of consumers who can dictate the production of a product in Portland, Oregon, or the supply of a certain service from Sydney without even getting out of bed.
That is huge. It’s launching a consumer consumption revolution and producing a potential economic power shift. And it’s friggin’ awesome.
A few new tools of the trade
Online platforms to facilitate this collective trend are popping up all over the place, starting with the true and trusty Kickstarter to the recent collaboration of equity and angel investing at AngelsDen. Even us over here, in little ole New Zealand (NZ), have our very own crowdfunding platform, PledgeMe – just for Kiwi’s. There are crowdfunding platforms catering for niche products or services, like Publishizer for authors to pre-launch their book direct to readers or submit manuscripts to source a publisher for example.
In turn, this is creating the demand for a new kind of expert in the online field, a crowdfunding guru so to speak, who can help anyone to successfully navigate this new world of raising funds and building crowds. To guide them to create a popular, fully-funded campaign of loyal cash (and loyal fans), from the seed of one creative idea.
It may come as no surprise then that I’ve chosen to pre-launch my upcoming book – “The Story of Relish This” (title to be confirmed), through a Kickstarter crowdfunding campaign in September 2014. I have never written a book before, have no prior professional expertise in publishing, nor have a large amount of money to create one with.
I do however have Kat Jenkins from Multitude – NZ’s crowdfunding specialist, to guide me on this exciting new venture to help me develop a time-specific campaign to carve out my niche, offer the right rewards and pre-sell oodles of books.
All in the intention to give back to the crowd who gave me a start and give power to all the others who may want to join in – and ultimately, help kick off a revolution.
