Verge shared 11 thoughts from Young Entrepreneur Council (YEC) members on why crowd funding campaigns fail, including those of Due’s Marketing Director Angela Ruth. Her take on why these campaign fails is the inability to show an audience how they are connected to the product or service, which would help them to feel more motivated to invest in the crowdfunding campaign.
It’s important to let your audience know exactly what the product or service will do for them. Other reasons offered by fellow YEC members included no proof of concept, not enough buzz or incentive, lack of understanding about the target audience, your video doesn’t tell a story or you have set the wrong goal amount.
You can read the original Thoughts on Why Crowdfunding Campaigns Fail article here.
Along with crowdfunding, there are other ways you can get funding for your small business that also deserve consideration. Check out our guide to funding for small businesses.