Franchising, retail, business
21/04/2015
“The best time is now” clichés does not apply to crowdfunding because it takes months of preparation to pull-off a successful campaign, leaving little room for spontaneity. Knowing as much, the question still remains: When is the best time to Crowdfund? While a single, generic answer may not exist, there are guidelines to help crowdfunders better time their projects. Let’s investigate a few of these below:
Deadlines
Before setting a date, you need to ask yourself how soon you need the money. Anticipate a 90-day preparation period, a 60-day campaign, and a 30-day wrap up to see how close this brings you to your own funding deadline. Now consider how much time you and your team can invest at this particular juncture. Run the campaign when you can fully dedicate your life to the cause.
Market
Audience
With enough research, you can approximate the schedule of your potential funders. For instance, a product tailored toward teenagers and university students should favour the summer months, excluding stress periods like spring exam sessions, long weekends, and other holidays. This is an added variable to factor in during your demographics and psychographics research.
Competition
If your competitors intend to launch a campaign, it may not be the best time to crowdfund. We’ve talked about competition before as a positive thing, but going head-to-head seems like an unnecessary risk. Always survey the market’s supply and demand before pushing forward or backing off.
Seasons
Avoid major holidays or events, unless properly targeted and advertised. Similarly, think about days of the week — try not to end during work hours, for example. There are ways, however, to navigate a campaign around popular times of the year using themes and time-based campaigns. Such campaigns engage immediate communities during specific holidays/events to boost awareness and support. Again, this comes down to knowing the audience.
In your crowdfunding endeavors, have you found the perfect time to crowdfund? Please share your experiences and opinions below.
L’idea di creare un blog giornaliero per il mondo del retail nasce grazie ai continui feedback positivi che riceviamo dalle notizie condivise attraverso diversi canali.
Rivolto a tutte le tipologie di distribuzione presenti sul mercato: dal dettaglio ai grandi mall, dal commercio locale e nazionale alle catene di negozi internazionali, investitori, ai nostri fedeli clienti e chiunque altro è realmente interessato allo studio e all'approfondimento su ciò che guida il comportamento dei consumatori. E' anche un blog per tutti coloro i quali lavorano già nel mondo del Retail.
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