What is overseas crowdfunding?
Translated from the foreign term crowdfunding, which means public fundraising or mass fundraising, it is translated as "mass fundraising" in Hong Kong and "mass fundraising" in Taiwan. It consists of initiators, follow-up investors and platforms.
It has the characteristics of low threshold, diversity, reliance on the power of the masses and emphasis on creativity. It refers to an act of raising funds from the crowd to support the initiating individuals or organizations. Generally speaking, sponsors and proposers are connected through online platforms. Crowdfunding is used to support a variety of activities, including disaster recovery, private fundraising, election campaigns, startup fundraising, artistic creation, free software, design and invention, scientific research, and public projects.
How to prepare for overseas crowdfunding?
1. Market research
Whether Kickstarter or Indiegogo and other crowdfunding platforms have successful cases of similar products is a critical reference factor in determining whether your product is suitable for crowdfunding.
If there is no case of similar products on the crowdfunding platform, to a certain extent, there may be something wrong with the positioning of your product or the product itself is a "false demand" in the small circle of crowdfunding.
Good market research can provide overall guidance for product positioning, product functions and designs, future e-commerce sales in overseas markets, and corporate marketing strategies.
2. Overseas crowdfunding product content preparation (video is the key)
Product images, videos and copywriting will be the main content of the project crowdfunding page, and excellent videos will bring explosive returns. Data from the Kickstarter website shows that projects with videos have a success rate of reaching their crowdfunding goals of about 50% and a failure rate of about 30%.
First, in today’s cross-border e-commerce platform purchases, more and more buyers are prone to buying “misleading products” where the pictures do not match the actual product. If the product's appearance design and usage scenario demonstration can be truly demonstrated through video, it will greatly add points to the project.
Second, the video should be short and exciting, which can arouse the backer’s desire to learn about the product project. Three minutes or less is the best length.
Third, it is recommended that you carefully write your video script based on the logical line of the determined core selling points, and shoot the crowdfunding video of the production project in conjunction with the application scenario.
This is the end of the introduction to overseas crowdfunding in this issue. If you want to get more information about overseas crowdfunding, please pay attention and we will continue to answer your questions~
