3 Reasons for Crowd Funding
Welcome back to our blog!
This is a very special week for us. We are doing the last preparations for our crowd funding campaign! and we have revealed the name of our product: TUNE
Over the last weeks and months, many people have asked us why we do a crowd funding campaign. This is not a strange question, because popular crowd funding websites (like Kickstarter and IndieGogo) only started in 2009 for the US. Since then, it has become very popular. But some people have still never heard about it, and many people have not yet used it.
So, why did we choose crowd funding to launch our new wearable for runners? We have 3 reasons.
3 Reasons for Crowd Funding
First, let´s shortly explain crowd funding.
We created a page on a crowd funding platform (in our case Kickstarter). On this page we show TUNE, and explain why we believe it can be such a great product for runners. The product is not finished (it is in prototype stage), and we need more investment to set up mass production.
This is where you come in. We will offer the first TUNE systems with a big discount to those of you who help us to raise enough money for mass production. People who give us money are called backers.
We offer different ´rewards´ that backers can choose from, so everybody can decide how much they would like to donate to our project.
Once we have reached our funding goal, we will have enough money to go to mass production and deliver the first TUNE systems to our Kickstarter backers. We hope this helps you to understand crowd funding. Now let´s see why we decided to use this platform.
1. Connecting with people
On crowd funding, people have to invest their own money on our product. And, at this moment, the product is not even finished. This creates a really strong bond between us and our backers.
If enough people show that they like our ideas, we know that we are working on something good. This gives us a great way to test our ideas, and to get strong feedback from people who are really willing to pay for the product.
Through crowd funding, we want to create a community that helps to build the best possible product. And we reward our backers by making them the first owners of TUNE.
2. Creating Awareness
On crowd funding, the success of your product is 100% visible. If people like the product, they help to achieve the funding goal. If they don´t like it…
Because everybody can follow our campaign, a big success will also bring a lot of attention. People can show the project to the friends or family, and journalists can refer to our project in their articles. This brings even more backers to the project which increases the chance of reaching our funding goal.
Of course, the big challenge is to get a strong start with many donations in the beginning of the campaign. For this we need your support!
3. Raising Funds
And, last but not least, crowd funding helps us to raise the money that we need to finish TUNE.
We have made it all the way through the design, testing, and prototyping, but now we need to organize the mass production. This requires some big investments, and crowd funding helps to raise that money. This is how crowd funding empowers companies to go from great ideas to real products.
We hope that this blog helped you to understand why we chose crowd funding.
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Thanks for following us all these weeks! It has been an amazing journey and we really want to start the crowd funding campaign. We hope you will all help us to make the campaign a big success, and here is our last video before we go live on Kickstarter!