Crowdfunding is a method of raising funds through the collective effort of friends, family, fans, customers and individual funders. This approach taps into the collective efforts of a large pool of individuals-primarily online via social media and crowdfunding platforms-and leverages their networks for greater reach and exposure.
You can fund ideas (want to write a book or create a music album/ movie/ app etc , fund a new product), causes ( want to run a marathon to raise money for a cause you believe in ) , charities ( fund a NGO /charitable institution/non - profit) , events ( fund a music event , art show , marathon, concert ) & recoveries ( help people impacted by a flood, earthquake, cyclone etc).
Crowdfunding is essentially the opposite of the mainstream approach to business funding. Traditionally, if you want to raise funds to start a business or launch a new product or fund a charity you would need to put together a business plan in place, do your market research, get a prototype ready (for products) or get a pitch note in place for charities etc and then sell your story to a limited pool or wealthy individuals or institutions whom you know. These funding sources included HNI's, corporates, banks, angel investors and venture capital firms thus limiting your options to a few key players. You can think of this fundraising approach as a funnel, with you and your campaign story at the wide end & your audience of probable funders at the narrow end. This is a very time consuming approach with massive geographical constraints and allows you to only meet 2 to 3 funders on a daily basis.
A Crowdfunding platform like onlinesensor.com on the other hand, turns that funnel upside down. We give you (You can be a individual or an organisation) a single platform to build & showcase your campaign story to a large set of funders including your friends /family /fan base in a much quicker period of time. It transcends borders & making a pitch globally. Its fast, efficient, transparent and effective.
As a crowdfunding platform OnlineSensor gives you tools to tell your story well. We help you curate your story with our happiness team & give you tools, tips and advice to promote it on Social media. We give you software & an elaborate dashboard to monitor progress of the funding through a backend tool, which also gives you key analytics. This approach dramatically streamlines the traditional model. Traditionally, you'd spend months sifting through your personal network, vetting potential funders and spending your own time and money to get in front of them. With crowdfunding, it's much easier for you to get your story in front.
Compared to applying for a loan or seeking out accredited investors yourself, setting up a successful crowdfunding campaign on OnlineSensor or another platform is far more efficient and effective in getting your message out to the right people. At an early stage, an entrepreneur may think that outside of their own network they can only raise capital from accredited investors, venture capitalists, and banks. This isn't true.
Crowdfunding is a great alternative way to fund a venture, and it can be done without giving up equity or accumulating debt. Rewards-based crowdfunding platforms allow entrepreneurs to raise funds from the community in exchange for simply giving their tangible products or other relative gifts.
An active crowdfunding campaign is a good way to introduce a venture's overall mission and vision to the market, as it is a free and easy way to reach numerous channels. Our crowdfunding platforms incorporate social media mechanisms, making it painless to get referral traffic to your website and other social media pages.
Typically, this allows ventures to receive thousands of organic visits from unique users and potential funders. These users are also important for viral marketing, as they have the ability to share and spread the word to their connections.
The momentum created by successful crowdfunding campaigns attracts potential investment from traditional channels and attention from media outlets.
Success stories make for interesting reading, and reporters are always hungry for them. Crowdfunding is a unique and hot industry these days, and countless entrepreneurs who have been successful with it have seen larger success and exposure as a result.
Launching a crowdfunding campaign gives an entrepreneur the ability to pre-sell a product or concept that they haven't yet taken to market. This is a good way to gauge user reaction and analyze the market in order to decide whether to pursue or pivot on a given concept.