It’s not all about money!

Crowdfunding – a word combining two terms that are at least synonymous. Perhaps even more emphasis should be placed on the first term: crowd. After all, crowdfunding is much more than a mere alternative financing method to a bank loan or funding acquired from professional investors. The “crowd” – i.e. the people who are willing to give you money for your idea or project, sometimes with and sometimes without a direct return – is particularly valuable, far beyond the amount of money they donate. It is a community that believes in you and your project. These people are interested in what you are doing. Your supporters may even develop a sense of responsibility for the project they are helping to fund and participate in the development process by exchanging ideas, discussing them and providing valuable feedback and information.

Crowdfunding = community management?
The story doesn’t end with your project idea. Instead, the most important part of crowdfunding now begins: defining and engaging your crowd. Who will support your project, who will champion your idea so it reaches more supporters, which networks can you involve, which events do you need to attend to present your project? And how do you get your project into the media?
Afterwards, all these interested parties will want to regularly hear about you and your project. If it all goes well, you’ll have a great crowd Marketing tool on your hands.
 
Project successfully financed: don’t lose sight of the real value now
At the end of the day, you have built up an active community that you should definitely retain, inform and stay in touch with, beyond your crowdfunding efforts. The community represents a critical, interested group of people who help to further develop and improve your product, your initiative and your service by sharing valuable feedback. And who knows, maybe you’ll have already found supporters for your next crowdfunding project.