Our friends who make fabulously nutritious pizzas have asked for our help with an idea of theirs. They desperately need a new van to keep up with demand at events for their pizza’s and to be able to go to new events. They thought crowdfunding would be a great way to help them reach their goals, so we have helped them prepare everything that they will need prior to their launch last week.
Whilst they have featured in the TV series The Entrepreneurs, that showed the ups and downs of getting their product to the wider market, and won many awards such as The Scottish EDGE, Best New Product and have also been acknowledged as a business with the highest impact, yet they still face tough challenges. As their blog shows they have had a particularly bumpy ride with their past sampling vans.
Like any crowdfund, there are several challenges faced and the key here is ensuring the tone of voice is appropriate. This is a highly visible start-up and they have their products in several supermarkets. However, they are still a start-up, and finding smaller amounts of funds for new projects is a massive challenge. Remember Nucoco? We crowdfunded £12,000 for their branding and packaging for the same reasons.
SoLoCo have helped with their campaign strategy, rewards and social media strategy up until the launch. Eat Balanced have taken it on from there, and I think they have hit exactly the right tone of voice, producing fun imagery to show what the funds can buy. It won’t be easy, but it is one to watch. I wish them well!
If you would like to support them and get your name on their new van – or spend a day with the Eat Balanced team and Professor Lean tasting pizzas, click here.
I certainly am filling large shoes talking about this subject. I know there is already a tonne of information about which crowdfunding platforms to use and the differences in their perks.
Envisioning how you’re going to attract your early adopters, that stage of raising capital and literally bursting into the live .com stage is often quite a daunting and exhilarating thought, wouldn’t you say?
Despite the whole crowdfunding topic becoming quite a saturated space online, today I want to raise a couple of thoughts. Things to consider when it comes to YOU and the “Platform Choosing Time”. We all know that there are a dozen plus platforms available. Each platform provides a slightly different reach, has a couple of percentage points different with regards to the fee for hosting, and hosts for community specific genres and locations.
Dealing with numerous clients, this is always an interesting topic of conversation. We advise you to assess your choice through the segmentation of your audience; demographically, geographically and through your audiences values, ie. Where they’re based, what they believe in and things like they’re income, nationalities, gender and age – Think, what kind of person uses my product/ service?
Consider this; your value proposition is for your audience so it makes total sense to position yourself most visibly in all aspects or your segmentation. Secondly consider the purpose of your crowdfund – Are you looking to raise money through sharing equity or aim to raise money through donations or is your business considering the crowdfunding model purely for an engagement campaign?
We’ve made a Segmentation takeaway for you to jot some notes and thoughts down to help you decide which platform is best for you.
Here are some crowdfunding platforms that you may want to consider;
People fund it
OR your own technology! (get in touch if you want to find out more about this)
To do a crowdfund you must be hungry for success. However, don’t confuse hungry with starving. Because starving smells of desperation.
When hungry you want to see all elements working for you. You want to plan and prepare all of the aspects for the longer term so that you can taste each and every part of the meal you have cooked. In crowdfunding terms, success looks like engaged followers, co-creation of ideas, longer term support AND money in the bank.
Desperate won’t achieve this. You will forget about the people giving the money, as the actual money is all that you can focus on. You will probably give the hard sell, and will be so worried about not succeeding that you will probably be run ragged before you even start.
So. Give yourself time to plan and prepare. Look at all of the options. Look at who you are hoping to engage with. What do they want? Are you providing an interesting, measured and appealing campaign? Will it sate everybody’s appetite, not just yours?
My advice? If your funding is about to run out, steer clear of crowdfunding. Fill yourself up on other funds and start to plan it for the future.