Crowdfunding is officially huge, and it’s only just getting started. The astonishing success of Kickstarter, Indiegogo, and dozens of other crowdfunding sites, have brought opportunities to small teams, in a way that few could have predicted just 5 years ago. People have raised millions of dollars for their projects, with little more than a video, a prototype, and an idea.
But the success of crowd funding platforms mean the competition for projects is fierce. How can you rise above the noise of 10,000 other projects, which are all now vying for the same audience?
The problem with crowdfunding, as we head into 2015, is that it is now a hugely competitive affair. It’s essentially becoming a commercial undertaking to get a project funded. The days of posting a few artist concepts and copy on a crowd funding platform, and waiting for the money to roll in, are gone. You need to market your page, advertise it, and get a head of steam going. Unless you have a very large existing audience to market to, or are given substantial editorial coverage, you are probably going to have to spend substantial amounts of money to promote your campaign.
One rule of thumb is that you need to spend 10% of the amount you hope to raise on a crowdfunding campaign, on the campaign itself. So if you’re thinking you’ll raise half a million on Kickstarter with just your idea and an SLR, you’ll probably come away disappointed. You’ll need to spend upwards of $50,000 first.
If you have that kind of money, you’re in good shape. You can spend $10k on a snazzy video, and a bunch on Facebook ads, press releases and social media campaigns. You’ll likely succeed if it’s a reasonably good idea.
But for lesser mortals, who don’t have that kind of cash sitting around, it’s a significant problem. The professionalisation of crowdfunding campaigns, presents real challenges for a significant number of people.
Here at the Da Vinci Project, we want to change all that. We are creating a platform that will allow anyone with an idea, to progress their idea to the next level, without spending any money.
We are building a groundbreaking and intelligent ideas platform, 22 years in the making, that will for the first time allow people to test out almost any idea on the public, as easily as posting a tweet. If you participate in the community by voting on other people’s ideas, you will earn credits allowing you to post our own ideas. You’ll be able to evaluate an idea based on hundreds of real people’s feedback, and refine an idea to make it better (and more appealing), while building an initial fan base for your idea.