The Crowdfunding Craze
Everyone from big corporations to the guy making potato salad in his kitchen is getting involved with crowdfunding. And given it has been around for a while, we think it’s time that we break down this lasting trend with you.
Ready? Set? Funding!
For those of you who we have already lost, crowdfunding is a way for people who need funding for a project or idea to reach a whole bunch of people who may not otherwise know about the project. Websites such as Kickstarter and Indiegogo are hubs for creatives to post their stories, videos and project/idea descriptions. Users of the site are then able to donate to make the project a reality. Ideas on these sites really cover the gamut – anything from waterproof Bluetooth speakers to the world’s largest jockstrap – a whole lot of ideas have been made a reality because of strangers (and yes, the world’s largest jockstrap was a real campaign in 2011 that raised $854).
Does this trend show the democratizing power of the Internet, and thus a shift in power, as some researchers suggest? Or is the free gift with a donation really leading the charge? We’ll let you ponder this as we dive into some examples…
This retail example (and yes, of course retail is first!), aims to bring a zero waste grocery store to Denver via ZERO Market. This husband and wife duo take the plunge to create something unique, sustainable, and backed by their peers.
Innovative ideas are all over crowdsourcing sites. But this one stood out. Meet Mighty Mug, the mug that won’t fall over. With not a lot of desk space to spare at Retail Concepts HQ (have you seen how we work?!), perhaps this type of mug would allow us to hang up our chamois towels for a bit…and let us keep that extra set of clothes in our cars.
One of the coolest things about searching crowdfunding sites is that you find ALL these things you never knew you needed…like paper made Rainbow Pencils. Do we even own a traditional pencil sharpener (answer: no), but we’ve become entranced by Duncan Shotton’s accent and his video makes us feel like long lost buddies. And how could you not support that??
Some keys to a great campaign? Make it short, sweet, succinct and engaging. Humor surely doesn’t hurt either! Are you thinking about taking a stab at your own crowdfunding campaign? Reach out! We’d love to hear about your idea and point you in the right direction. And though we may not be the ones to film your video spot for you, we can surely be moral support along the way.