Online crowdfunding has really taken off over the last decade. Before, if you had an idea for a product or a business, you generally had to be self-funded or get funding from family members, friends, a bank or through an investor you could talk into believing in your idea.
With crowdfunding that all changed, because instead of getting an investment from one or several individuals, a startup or entrepreneur can now utilize free resources — like the internet, social media platforms and other online communities — to get tiny investments from hundreds or even thousands of investors.
So it’s no longer necessary for new companies to spend large sums of money to manufacture bulk amounts of a product before reaching the markets. Instead, a startup company or entrepreneur only needs to create a prototype or proof of concept of their product and a nice video or set of pictures to show it off, post it onto a website like Kickstarter or GoFundMe, and consumers will pre-order the product to help fund the project.
This allows the sellers to move the first round manufacturing costs to the consumers, which is good for both parties. The sellers benefit because they have a new way to get funded that also allows them to test the markets before anyone risks large amounts of cash for bulk manufacturing, and the consumers benefit because they get the option of purchasing exclusive products that may have otherwise not hit the market.
So what’s there not to love about crowdfunding? For most people, the main complaint is when sellers aren’t able to hit their funding goals so the product never gets manufactured at scale. When this happens, the project doesn’t get funded and the customers who already pledged don’t get their product, but at least the customers get their money back.
Sometimes crowdfunding projects fail to get the necessary funding because the market just wasn’t interested in the campaign, but many times simple lack of exposure is what keeps a campaign from getting the funding it needs.
Fortunately, a new website called Kickbooster is helping campaigns get the exposure they deserve, by incentivizing individuals to help share and promote campaigns.
The way it works:
- First create a free account on Kickbooster.
- Next, find Kickstarter campaigns/products on Kickbooster that you think your friends or network would purchase or invest into.
- Once you select a campaign, Kickbooster will give you a custom link that redirects users to that campaign.
- Share that link wherever you can to promote that campaign. Places like your Facebook and Twitter might be good starts…
- Collect 10% of all the money pledges invest (through your links) into successful campaigns. It’s that easy.
Once a Kickstarter campaign that has agreed to use Kickbooster’s services to reach their target funding amount, the individuals who helped bring investors to the campaign receive their payment for helping.
Kickbooster is a service offered to Kickstarter campaigns who want help reaching their funding goals, so not all Kickstarter campaigns choose to use Kickbooster.
But in their first five months, Kickbooster has already worked to help over 800 campaigns get funding. So if you’re interested in creating an account and sharing links, you can be assured you’ll have a good selection of campaigns to choose from.
We had the chance to speak with the creator of Kickbooster Scott Adamson about the development of Kickbooster. He said while doing research into starting his own crowdfunding project he noticed that some larger campaigns were doing the same thing that Kickbooster is now, except on an individual campaign bases with their own customized process’.
Adamson wanted to make this service available to all campaigns, large and small. Although, the website helps users who bring in new pledges make money, the website itself was created with the focus of helping crowdfunding campaigns get exposure, not making money.
Eventually, Adamson says he hopes to…
“create a suite of tools that campaign creators can use to help run their crowdfunding campaigns all the way from pre launch to – e commerce”
Learn more or create your own Kickbooster account here.