WHERE TO GET THE MONEY FOR THE PROJECT: 18 CROWDFUNDING TRENDS
Looking five years ahead, we can say with confidence that a big and bright future is waiting for the awaits crowdfunding
What do you need to make a film, organize a festival or create artwork? If money is a problem, it is not a reason to give up. You can try “asking” for the funds from the Internet, find supporters and implement your idea with people’s money. This is what crowdfunding is about. The real possibilities of this technology for the cultural sphere are huge.
- Western experts are convinced that in the near future crowdfunding will become just as everyday and common as social networks are now.
- Crowdfunding will gradually move to the royalty basis as computer systems will allow users to easily manage complex royalty payments.
- Big companies will actively use crowdfunding for building their strategy and marketing. The biggest effect will be observed in the pharmaceuticals, environmental technologies and the food industry.
- Business loans provided on the basis of positive crowdfunding statistics will become a norm for entrepreneurs. Hybrids of loan funds will appear, which will not be burdened by securities legislation.
- The participants of the movement will become bigger. They will be either global (not tied town to a specific geographic location) or strictly local.
- E-commerce players will also enter the crowdfunding market.
- Outsourcing companies will work for crowdfunding platforms.
- Women will be more successful than men thanks to being more prone to cooperation and having greater experience with social media.
- All campaign stages will also have their features.
- A prerequisite to a successful campaign will be its total transparency.
- Strict identification of engaged parties, even with the usage of biometric data, will become compulsory.
- The participants will control each other themselves and report the minutest violations. Potential funders will be able to get information from different sources, and for the campaign to be successful these pieces of information will have to match. The lack of transparency is very well felt in an online community.
- In some campaigns, it is the online community that will determine the award, help with preparation and solve all issues before the launch.
- The main fundraising activities will be conducted among accredited investors.
- The agreements with investors and processes documentation will be fully automated.
- Around crowdfunding campaigns, strong online communities will gather and continue their existence and development even after the fundraising is over.
- Monitoring results will be easy thanks to the different services focused on what happens after the fundraising is over and evaluating both investors and entrepreneurs.
- Participant stories will be in open and accessible. The feedback will be organized according to the eBay principle: a user will receive a ranking based on the percentage ratio of positive and negative evaluations after based on the completed transactions for the last 12 months.