While funding is considered the primary goal of a crowdfunding campaign, it is also a great way to increase your visibility and grow your overall customer base. These are just a few of the many benefits of crowdfunding.
Some other reasons that many people actively participate in crowdsourcing campaigns is to gain:
- Marketing exposure
- Press coverage
- Social proof
- Traction in the market niche
- Potential interest from investors
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When creating a crowdsourcing campaign, you may also be able to successfully generate traction for the startup. This will be demonstrated with large numbers of backers, pre-orders for the product or even services that the startup offers.
It can even help to garner media attention and interest. Generating more traction is a crucial step in proving success and preparing for creating a pitch to present to investors.
When you have gained interest from possible clients in the service or product being offered by the startup, you have gained social proof. This is showing that other people believe in what you are actually doing. Another way that you can generate social proof is to advisers who are prominent in their particular field.