To say that social media has helped crowdfunding is an understatement. Some would even argue that crowdfunding would not be possible or as successful without the push and hype generated through social media platforms.
Now more than ever, what with the cost of living and the lack of jobs, the reality of the need of financial support from a large group of people is highly apparent, which is where social networking comes in. Creative projects can be easily promoted and shared to produce a world-wide span of contributors. The accessibility of social media for donors and innovators looking for donors means a more efficient method of crowdfunding, and the feasibility of making a thought or idea come into fruition.
Thus, getting the necessary funds has never been easier. Using social media to crowdfund is ideal for the entrepreneur and the small business venture - even the most radical or unique idea can find its proper investor.
All it takes is a dedicated network and a moving campaign to get the ball rolling on a project – sites such as Facebook, Twitter, Youtube, Instagram, Pinterest and LinkedIn act as the platform to engage and interact with a massive amount of people instantly. The more you push and promote a project, the quicker you will get recognized by consumers and investors.
You can showcase your vision via various promotional angles with a few tweets per day, some Facebook posts, a promotional video and eye catching visuals. Get your project noticed and backed by a famous face and name, and you have created even more momentum for your mission.
Social media also provides you an opportunity to see how consumers will react to your idea, and whether or not they will like it enough to fund its realization. From there, social media crowdfunding allows you the ability to do research for your project - you can obtain a benchmark of your product’s demand, and see how the demand holds up to potential competitors.
By pitching your idea to the world by crowdfunding through social media, you are in the first stages of advertising, promoting and marketing your product as well. If you assess that there is interest in what you are trying to do and have supportive investors, you can reward such consumers with promotional items and/or samples of your product.
Imagine crowdfunding without social media. The process is very much the same; however, it would likely take longer to actually see results. It may even be costly using other means of advertising, such as purchasing an ad in a local newspaper or launching a promotional event to raise money and support for your cause-- that is time and money wasted.
By crowdfunding through social media, not not only will you learn more about your audience, the audience will learn more about you as well. When they feel they can identify with the innovator, they will be more interested with what innovative product or service you can provide to the world. Thus, you can truly interact and engage with consumers and investors, and win them over.
Marcela De Vivo is a freelance writer and online marketing professional in Southern California. In addition to working with CrowdFunder, an equity and investment platform, her writing also covers social media marketing, web analytics and web hosting. As the founder of Gryffin Media, she uses a variety of social media platforms to expand her business.