Have an idea that you think could be the next big thing but don’t have the money to make it a reality? Don’t worry, there’s funding out there for you and it’s only one click away through crowd funding! Crowd funding allows entrepreneurs and inventors to reach large numbers of people via the Internet to collect donated funds to finance their dream.
Tools such as Kickstarter and indiegogo are becoming extremely popular with entrepreneurs after the success of projects by Pebble and Ouya. These crowd funding tools allow people to raise capital for a specified time that are called campaigns. Once that time period has elapsed, money can no longer be donated toward the campaign. According to Blast Media, more than 70,000 projects have been launched this way on Kickstarter and the number continues to grow.
With only a limited time to raise money and a growing list of competitors fighting for the same dollars, entrepreneurs are starting to realize they need a marketing strategy. That’s where PR practitioners come in! PR is playing a major role in how these projects garner attention, drive traffic and receive funding. In the near future, you could be developing a strategy for one of these campaigns to attract audiences and funding.
Brigitte Lyons, media strategist and owner of Unfettered Ink, created a webinar or “PR Primer” to help one Kickstarter campaign develop a more effective strategy to give them the edge after receiving emails from entrepreneurs looking for advice. View Lyons’ marketing advice for one Kickstarter campaign here!
What are some of the pros and cons PR practitioners face when working with crowd funding clients? Will we start to see PR agencies funded by Kickstarter campaigns?