Crowdfunding is a way to raise funds that more and more inventors and entrepreneurs are using on a daily basis. It seems like the momentum is not slowing down at any time with this.
Nobody knows this more than Mark Campbell, the Vice President of Marketing at InventureX.
His company is one of the best in the business when it comes to helping people achieve their goals with crowdfunding projects. After we discovered this recent interview featuring Mark, we had to reach out to him and he was kind enough to share some insights by answering a few questions in a short interview.
By now, everyone has heard about crowdfunding. What is the biggest change you have seen in the last five years?
I think the biggest change is probably the overall quality of successful projects. A person really needs more than just an idea to make sure that they can secure funds needed to make it a reality. Since there are so many different people competing for funds from the same potential pool of backers, an entire plan needs to be put together beforehand to ensure success.
How has marketing helped people gain an edge?
There is no question that solid marketing is an effective way for people to get the attention needed for certain projects. Just getting an idea in front of the right people can be extremely valuable and increase the likelihood of other likeminded backers discovering the project.
Unfortunately, there are actually some good ideas and plans out there that were just marketed incorrectly and therefore failed. A lot of people are turning to us now because they know that we can get them the exposure that they need to increase the potential for success.
How do you guys select the projects you work with?
We are in a pretty unique situation now where we can pick and choose in some ways when it comes to helping certain projects and businesses.
If someone comes to us with scattered ideas, we will work with them to straighten them out before launching a campaign. The last thing we want is to put somebody in a position to fail, so we try to help as much as possible at every single stage of the game.
You have already looked at five years ago, but what about five years in the future? What changes are on the horizon?
I think at some point, there will be a breaking point when it comes to the amount of crowdfunding projects started simultaneously on the most popular crowdfunding websites.
People who are not putting together strong ideas which will add value to the market will simply be discouraged to even waste their time because finding success will be more of a challenge if the campaign isn’t presented and structured like the most active ones trending.
That is good news for the serious entrepreneurs looking to gain exposure where the funding necessary to support long-term success and backers can grasp that easily.
The other change I really see is the fact that so many other people from different countries are starting to figure out the value of crowdfunding. It’s possible the landscape for crowdfunding may become more competitive, globally.
Any suggestions for those people considering InventureX?
The first step when discussing any type of idea with us is to fill out the simple form found on our website. This will give us a basic understanding of your project, and it allows us to set up a meeting to see what we can do at a later date.
We have been fortunate to work with a number of different and diverse companies, but we are always looking to work with more.