Brand Refinery Selects Its Best Crowdfunding Platform for a Product Launch
Brand Refinery, a product and launch consultancy with offices in the UK and USA, has selected its preferred crowdfunding platform for a product launch. The surprise is… there isn’t one.
Richard Slade, Client Services Director said, “We are often asked what the best crowdfunding site is but it’s a myth that there is one leader when it comes to raising capital for a product launch. What many developers fail to realise is that the main platforms each excel in a certain area and that there are dozens of other specialist crowdfunding sites that may not grab the headlines but quietly hold lost of influence in particular industries.
“Picking the most appropriate platform is not a case of deciding what the best overall platform is or measuring success by how many other projects are on there. It’s more a case of determining which platform is the best fit for the particular product you want to bring to market and more importantly, where you audience lies.”
While Kickstarter and Indigogo are names known in every boardroom up and down the country, niche crowdfunding platforms like CircleUp could easily hold the key for 2015’s new product launches. Described by The Wall Street Journal an equity fundraising platform for startups that make consumer goods, CircleUp recently signed a partnership with Johnson & Johnson and Proctor and Gamble. This gives campaigns access to those brands and their market expertise. It launched in 2012 and with its consumer goods focus, has seen more than $40 million of investment pass through its doors.
For many, Kickstarter is the poster boy for fund raising but, it’s better suited to some product launches more than others. [Richard Slade] adds, “It’s a phenomenal success story and is headline material every week so it’s no surprise that most entrepreneurs initially want to pitch their campaign on Kickstarter. But, statistics show that the most successful projects are ones in the arts, gaming or tech spheres, so products outside of those sectors should consider other avenues for their launch, as it’s likely another platform could be a better fit.”
Sector is important when selecting a platform as some have an established demographic already in place and investors familiar with the industry. Crowdcube for example hosts a network of professional investors with established investment habits. “Crowdcube has more than 125,000 registered investors and over £75 million total investment. Those are big numbers but, they have examined their data and concluded that 51% of their ‘dragons’ like to invest in consumer products and 49% prefer to invest in food and drinks products,” [Richard Slade] said. “If you’re launching a new food or drink products, it’s a no brainer that you’d consider Crowdcube for that specialised interest over another platform with more column inches but less of a favourable investment landscape in your niche.”
To find out more about selecting a crowdfunding platform and the Brand Refinery product launch consultancy visit http://www.brandrefinery.co.uk
Dakota Digital for Brand Refinery
UK: +44 (0)1623 428996 Ex. 4
US: +1 917 720 3025
Incorporated in the US in 2007, Brand Refinery UK provides marketing and product launch consultancy services to assist individuals and companies who are bringing products or services to market. Initially established in New York, Brand Refinery UK has evolved to provide specialised market development, promotion and launch consultancy services to individuals and companies which are designed to help reduce client’s risk.