You have finally taken the leap to create a crowdfunding campaign. Congratulations! Making that decision is the first step to what can very well be a long, exhausting, but oh-so-worthwhile journey toward realizing your goals.
Crowdfunding is one of the most popular ways for people to raise money for a business, a project, a cause, or an event. But once you have launched, reality sets in. Big, fat reality. You are now one of many crowdfunding campaigns. And depending on what your campaign consists of, you may be one of many crowdfunding campaigns very similar to yours.
You probably know someone who has crowdfunded with moderate success. Attracting backers is more difficult than it has ever been because, too many times, individuals and entrepreneurs have launched a crowdfunding campaign without any real product, and the investors become frustrated as they suffer the losses.
Numbers Don't Lie
While a solid crowdfunding campaign can raise a great deal of money for your brand, not all crowdfunding campaigns are successful. According to Fundly.com, crowdfunding to date has raised a total of $34 billion. In 2017, a sobering $17.2 million dollars were raised in North America alone. Even though there may be an oversaturation, there’s no question that crowdfunding works if done properly.
Now let’s consider volume. As of October of 2018, the 419,755 crowdfunding campaigns launched on Kickstarter raised a total of $3.92 billion. However, the success rate of campaigns on Kickstarter was only 36.4 percent, meaning only about one out of every three campaigns met their goals.
So, what can you do to ensure success?
So your idea, startup, invention, event, service, or what-have-you is a needle in a stack of needles. That’s okay. Because you are 100 percent committed, and it’s all about how you market yourself professionally and gain exposure. By getting beta customers to test your product and create video reviews, you will earn the trust of potential backers. How?
First, you must identify your ideal target audiences. Who are the people that will be purchasing your product? Who would benefit most from your product, from each of its features? VideoPeel specializes in helping businesses find the ideal beta customers for their crowdfunding campaigns. VideoPeel’s panel consists of 10 million+ people from around the globe. You can specify demographics and psychographics, and VideoPeel will find you the right articulate and engaging beta customers who fit into your defined target audiences.
You will see videos from several potential candidates in your private VideoPeel account so you can select who you want to work with. Each candidate will create a video answering pre-defined questions about themselves and why they would be ideal candidates to beta test your product.
Once you send these beta customers your product, VideoPeel will work with them to capture their real experience with using your product. VideoPeel’s technology makes it very easy for customers to capture and submit their videos to your private VideoPeel account. VideoPeel focuses on several different types of video reviews: testimonials, tutorials, unboxing, product experience, customer experience, and many more. Each type of video review has its own purpose.
But essentially, real people will show how your product works and what it can do for them. You are letting potential backers see evidence of your product in action, in real life. With every unique video review, another layer of trust is created between you and your backers.
Video reviews are a proven method to help your brand because they distinctly stand out among text and static images, and they provide real sight, sound, and motion-based evidence of your product. Utilizing VideoPeel’s turnkey video review solution for your crowdsourcing campaign will take your crowdfunding campaign to a new level of trust.
Let's share some examples.
Luft Qi, the smallest, filterless air purifier, used VideoPeel to recruit beta testers and to create video reviews of their product. They focused on five different target audiences. With VideoPeel’s help they were able to launch their campaign with real videos showing customers within their target audience, using their product. Luft Qi’s crowdfunding campaign reached 1,170 percent of their crowdfunding goal. Luft Qi was an underdog by any measure, but the little-filterless-air-purifier-that-could raised $303,980 with the help of VideoPeel video reviews!
GoSho, the world’s most powerful mini HD projector, utilized VideoPeel’s video reviews services to recruit beta testers who met their specific audience criteria and to create several videos showcasing the major aspects and features of their mini HD projector. VideoPeel helped them raise $542,410, reaching a mind-blowing 4,618 percent of their crowdfunding goal!
The proof is in the pudding, and brands like Luft Qi and GoSho have proven to their backers that the pudding tastes delicious.
Video reviews will play an enormous role in helping your brand stand out from the crowd. VideoPeel can assist with recruiting, collecting, managing, and editing your video reviews. If you are in the concept phase and don’t have customers yet, you can recruit from the more than 10 million global influencers within VideoPeel’s network. Once you select your beta customers and send them the product, VideoPeel will help capture their real experiences through video, so you can publish your video reviews directly onto your crowdfunding campaign.
Try VideoPeel and start collecting video reviews now!
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