Crowdfunding has changed since the first exciting days, and several new trends show the maturing industry. Projects rooted in sustainability remain popular, such as hemp fiber glasses frames and window blinds with integral solar panels. There is an emerging trend in remaking classic equipment using new lighter and less expensive technology, such as a large format camera with a lightweight wooden body, and a turntable with all-in-one functionality. Fashion and design projects remain popular, with a move toward minimalism and simplicity in clothing, shoes, and accessories such as watches.
A number of new tech startups have integrated tech into existing products, such as skateboards and bikes, and there are a number of young businesses working on social justice models and local food. The hydroponics and aquaponics model of food production has moved to rooftops and underground tunnels across the world.
Running crowdfunding campaigns have also matured. Those who invest in new product development have come to expect a degree of sophistication in the marketing of a campaign as a sign of business maturity. Common best practices have been identified, such as video marketing, a strong mail campaign before the crowdfunding campaign opens, contests to build up the mailing list, and access to products from the first production run at below cost. This last is a critical piece for companies with a working prototype, and allows the crowdfunding campaign to be used to estimate demand, take first orders, and form a customer base.
The Zera Food Recycler had a sucessful campaign on Indiegogo, and the company is still using the platform to allow pre-production orders of the machine. The earliest supporters were allowed to pre-order a recycler for $999.00; the company allowed 125 of the models at this price. They then listed 100 orders for the recycler at $1199.00; 66 of those have been claimed.
Some companies are also using multiple crowdfunding campaigns through the course of their business growth. Expansion, new product development, and opening new branches or outlets are all reasons for a second or third crowdfunding campaign. Companies that have had success with crowdfunding are turning back to it as a method of funding business growth and expansion.
For more information about crowdfunding campaigns and new trends, please contact us.
The post Current Trends in Crowdfunding Campaigns appeared first on STRATECTA.