We don’t have to look far past our smartphones to recognize that a great idea can change the world. But in this digital age, when everyone seems to have an idea, it can be challenging to get a project off the ground. Crowdfunding sites like IndieGogo and Kickstarter popped up to provide a solution, by offering perks to early adopters of technology and products in exchange for funding, and by 2015 the crowdfunding industry was estimated to have generated $34 billion in revenue — a figure that’s projected to grow to $96 billion by 2025.
That’s a lot of projects and ideas vying to be seen.
So, while crowdfunding can be a great way to finance a project, the increasingly crowded space presents us with the same problem aspiring entrepreneurs needed to solve in the first place — standing out among the crowd.
That is, because of the competition for eyeballs and dollars on crowdfunding sites, most ideas get lost in the milieu.
Fortunately for startups, savvy entrepreneurs have recognized the need to help aspiring entrepreneurs attract attention to their ideas. Here are three resources that startups can leverage to earn hard-won crowdfunding dollars.
1. Gadget Flow
Gadget Flow is a unique product discovery platform thought up by three friends while in college. It essentially curates a custom catalog, depending on user interests. The little-known platform reaches 25 million people per month and has churned out two million in revenue through ad sales.
Advertisers on their site include all ends of the business spectrum — from heavyweights like Polaroid, Sony and Amazon, to projects in the crowdfunding stage hoping to build awareness and interest around seed-stage ideas. When potential advertisers submit their projects to the platform, Gadget Flow gets to work on delivering the ideas to precisely the right audiences.
“The tricky part was to increase our revenue by getting more customers advertising their products on our platform but without becoming too sales-y for our users,” says Cassie Ousta, co-founder and CCO of Gadget Flow.
To do so, they invite users to create a free account, allowing the site to tailor product results to user tastes. Then, visitors scroll through their front page’s social media-like stream of ideas and projects of interest, some of which are already funded and in-production, and others which are actively seeking crowdfunding dollars.
The value for crowdfunders is in the curation — the way an art museum will have rotating collections and artists coming through, Gadget Flow curates interesting product ideas via their employees, trend algorithms and individual user input.
For example, if a user likes superhero-themed gadgets, their stream will feature relevant items, delivering products to precisely the audiences who would be likely to take interest. Furthermore, they keep a constant flow of new ideas percolating to pierce bias bubbles. The power of this is that it makes what is essentially advertising feel much more vital, in effect, making the featured products more vital.
Read the full article at entrepreneur.com.
Constance Aguilar is the director of integration at The Abbi Agency, a media and marketing firm in Reno and Las Vegas. She works primarily with software technology startups to develop media and internal communications strategies and assists business-to-business companies in the implementation of technology to accomplish a variety of sales and management goals.