5 Crowdfunding Misconceptions (+ The Most Effective Tool for Getting Contributions!) - Best Webhosting

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Watch WebHosting GoDaddy Video: 5 Crowdfunding Misconceptions (+ The Most Effective Tool for Getting Contributions!).
Kathleen Minogue, Founder & CEO of Crowdfund Better, walks through 5 misconceptions about crowdfunding and how to use it to get the capital you need. Watch more Small Business News & Trends videos: https://bit.ly/biznewsandtrends
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0:21 Misconception #1: All crowdfunding is the same
0:30 4 different types of crowdfunding
1:10 Misconception #2: Crowdfunding = begging
1:47 Misconception #3: Platforms will find backers
2:17 Misconception #4: Social media followers = success
2:52 Misconception #5: Go for broke
There are many misconceptions out there when it comes to crowdfunding. First, it’s important to know that not all crowdfunding is the same. There are four different types: donation crowdfunding, microlending, rewards crowdfunding and investment crowdfunding. Whichever type you’re utilizing, it’s important to frame crowdfunding as giving people an opportunity to participate in your business — it’s not begging. When seeking out funds, it’s up to you as a business owner to bring your community to the platform. In fact, 50-90% of your backers will be from your own network. Just because your business has a large social media following doesn’t necessarily indicate you’ll have success. It’s actually email that’s the single most effective tool for crowdfunding contributions. On average it has a 34% higher success rate (!) than any other digital channel. Lastly, there’s no need to go for broke — it’s better to set smaller, attainable goals that show your investors and community that you do what you say. Think of crowdfunding as a way to bring your community closer while raising the capital you need to launch or grow your business.
Learn more about Kathleen Minogue and Crowdfund Better:
https://www.linkedin.com/in/kathleen-minogue
https://www.crowdfundbetter.com
https://www.facebook.com/CrowdfundBetter
https://www.instagram.com/crowdfundbetter

Learn more about GoDaddy:
https://www.godaddy.com
https://www.youtube.com/user/godaddy
https://www.instagram.com/godaddy
https://www.facebook.com/godaddy
https://www.twitter.com/godaddy

The information contained in this video is provided for informational purposes only and should not be construed as an endorsement or advice from GoDaddy on any subject matter.

#Crowdfunding #GoDaddy #CrowdfundBetter #KathleenMinogue #BusinessCapital #BusinessSuccess #BusinessTips

Published: Saturday, September 24, 2022 10:08 PM
Category: WebHosting GoDaddy

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