15th
Beg, Borrow Or Crowdfund — It Pays To Be Persistent
I came across an interesting writeup of a successful Kickstarter project where the project creator admits to having a back-up plan:
At the time, I also thought that if we didn’t reach our Kickstarter goal by the deadline, then I would move to the Indiegogo platform and ask all our original backers to re-pledge their amounts so we could collect immediately (that’s one major difference between Kickstarter and Indiegogo). I realized we probably would lose close to 25% of the backers this way (due to various factors) — but it was better than nothing.
This strategy makes me wonder how many competitors can exist in the “crowdfunding platform” market. EBay dominates the “online auction” market despite several attempts from others to compete with eBay…. so is there a similar winner-takes-all market for crowdfunding platforms? If project creators daisy-chain their crowdfunding projects, why don’t the do it in parallel? Hmm.
In any case, crowdfunding projects aren’t “set it and forget it” efforts. It takes a lot of legwork, passion and fan engagement to pull it off.
