As entrepreneurship continues to embrace modern technology, crowdfunding has become an increasingly popular way to get funding in order to launch a product or company. Platforms such as IndieGoGo and Kickstarter make it easy to raise hundreds of thousands of dollars through multiple investors instead of one person or bank, making the dream of being your own boss more accessible than ever before!
Unfortunately, it takes more than a profile on a crowdfunding site to get the masses behind your idea. You need the right people to see your idea. You need to tell the right story to entice them to open up their wallets.
InventureX is a marketing agency based in Santa Monica, California that has specialized in crowdfunding assistance since 2012. They have one of the highest success rates in the industry to help you raise the capital you need to turn your idea into a reality.
What Is InventureX?
Whether you’re looking for $50,000 or $1 million, InventureX has the skills and experience to help you reach your funding target. Every client is the beneficiary of pre-launch marketing to create a buzz around your concept before you try to collect a cent. The company also assists in the creation of engaging video packages to help sell your idea to potential investors.
Once you’re ready to start raising funds, InventureX launches targeted Facebook ads to make sure that your target audience sees your idea. Viral social media marketing is also performed so that your idea can reach as many potential investors as possible.
The net result is an 86 percent success rate, one of the highest in the crowdfunding industry!
Solutions for Your Startup?
InventureX offers a variety of packages that suit any business’s budgets and needs. The company has successfully managed campaigns for $10,000 and others reaching well into the seven figures, so no idea is too small or too large for them to handle.
The first step is developing a coherent business plan. You might think that you can skimp on the business plan since you won’t be working with a financial institution or angel investor, but even regular people want to see what their money will be used for before they give it to you. If you fail this important test, potential investors will quickly lose interest and place their money elsewhere.
Next, you need to decide what incentive(s) you will lure investors in with. It is customary to provide your product or service upon reaching your fundraising goal, but some concepts may benefit more from a tiered approach. For example, an early investor could receive a limited edition production run, or maybe even be permitted to influence the final product design in some way.
InventureX can also help you identify how much money you actually need. This may seem like a semantic issue, but it’s quite important. If you underestimate your funding needs, you are legally liable for providing whatever you promised investors even if you lack the funds to create it. This can turn into a protracted legal battle that kills your company before it can be born.
Alternatively, asking for too much money makes it harder to reach your goal. While Kickstarter and IndieGoGo will allow you to collect more than your initial target, investors are not billed until you’ve met your fundraising goal. Put another way, if you can’t collect your target amount within your defined time frame, you won’t collect anything at all. Talk about a waste of time!
The Importance of Marketing
Therefore, it is in every startup’s best interest to succeed on their first crowdfunding attempt. Research suggests that startups partnered with marketing agencies such as InventureX are three times more likely to reach their fundraising goal than entrepreneurs who attempt to manage their own campaign.
Of course, who you partner with matters too. InventureX is the market leader in this space for a reason. Nobody does it better.
The Bottom Line
If you are considering turning to crowdfunding to finance your next big idea, InventureX has the industry know-how and expertise to get you the funding you need. Contact them today through their site or check out the InventureX blog to find out what they can do for your startup!