Do you like the sound of crowdfunding, but not sure what it’s all about?
Here’s your super-quick guide to all things crowdfunding to help you get started!
Crowdfunding is a way of raising money from a ‘crowd’ of individuals interested in your project, cause or idea.
It’s become one of the world’s favourite alternative finance methods, since it sidesteps more traditional avenues such as bank loans or angel investors, to fund a project or venture.
Crowdfunding lets anyone with a great idea take it straight to its consumers, who – if they like it – will help make it happen.
How does crowdfunding work?
Crowdfunding normally happens on online platforms like Zaar.
Here, people from your target audience can quickly and easily contribute small amounts of money, to help you reach your funding goal.
In ‘reward-based’ crowdfunding, you offer non-financial rewards in return for pledges to sweeten the deal, such as pre-orders or related products.
The benefits of crowdfunding go way beyond raising money.
Promoting your campaign helps to build a community of interested people, which gives you a target audience. That makes crowdfunding a powerful marketing exercise to engage with potential customers and create a market buzz for your project.
Plus, that community can offer you insightful feedback on your idea, at every stage of development.
Who can crowdfund?
In short: everyone.
Countless projects from any industry have found success via crowdfunding, from fledgling business ideas to charitable causes, artistic events to major brands.
But with so many people crowdfunding today, you need to stand out from a different crowd – the crowd of project.
Since Zaar is Malta’s only crowdfunding platform, we offer the local touch for project owners, providing engaging support throughout the campaign and helping to connect you closer to the island’s community (your future backers).
Where do I to start?
Contact Zaar by letting us know about your idea and we will guide you through every step of the crowdfunding journey.
Photo by Hannah Busing on Unsplash