Using PR to benefit a crowdfunding project
Funding for businesses has changed since the financial crisis in 2008. Businesses are no longer using the traditional methods of approaching banks or lending providers to raise funds for their projects or start-up, but instead they are turning to crowdfunding as a way to get better rates and the funding businesses need.
There has been a huge uptake by investors and venture capitalists that are looking to get better returns on their investments than traditional stocks and shares as well as help new businesses along the way. Sites like Funding Circle, Crowdcube or Kickstarter projects have been the go-to place for investors and those looking to invest in the nontraditional crowdfunding scene.
Crowdfunding is a platform for businesses to pitch their product or service to investors for funding. Investors can donate as much or little as they like to help get the project underway. Projects on crowdfunding sites can range from established businesses seeking funding for expansion or startups launching a new technology venture or food pop-up. Some crowdfunding platforms have time limits with the duration a campaign is running, so getting funding quickly is essential to a successful campaign.
Like any business, there needs to be marketing in place to help drive awareness and get the right audience aware of your efforts. One of the most cost effective methods is to use Digital PR. There are a number of reasons why Digital PR should be used to get your crowdfunding to reach a wider audience.
Getting journalists and bloggers who know about your industry is essential for helping with your promotion spread faster. PR agencies already know who is the “Go-To” person is that can help with promotion. Using the connections of those already in PR can help save time manually searching and reaching out to the influencers and leverages the already established connections the agency has with the influencer to your advantage.
Influencers are able to write about your product or service from many different angles, generate valuable content and gain news coverage across multiple platforms of traditional, digital and social media. Often, at the early stages of a business looking for funding may not have a website ready so the positive coverage of PR can help give confidence to the investor helping them make the decision to invest in your business.
Those in PR know all about strategies and how to deliver a successful campaign. Working closely with your PR agency will help create effective campaigns that are well planned and executed according to schedule. In business, timing is everything – launch too early and you may not be able to fulfill orders, launch too late and you could miss your target market all together. A successful agency will be able to help you get your timing right and help you get the right investors involved with your project.
Starting any project involves hard work and dedication. By outsourcing your work to experts, can can help save time, make better use resources, increase efficiency and most importantly get your project funded!