Crowdfunding has been successfully adopted by eCommerce and now is on the rise. <strong>There are many useful applications of this technology that could jump-start your business ideas.</strong> However, you will need to know the intricacies of the ways to get funding and know proper management tools. This is exactly what we’ll discuss in the article. How to get money from crowdfunding in Shopify and what app has proven to be a reliable pre-selling manager. So, let’s start the journey!
Shopify Crowdfunding Needs Good App
Most widely, fundraisers in eCommerce accept payments for the future delivery of the product or service. That’s why it can be considered a pre-selling of goods awaiting arrival to the store’s stock. The first problem that we think of is how to technically implement a crowdfunding module or app into Shopify? The answer is quite simple. There are plenty of off-the-shelf solutions for creating different types of crowdfunding campaigns. For eCommerce in particular, the most convenient and efficient one is Shopify crowdfunding</a> from SpurIT. There are enough settings to enable a complete customization of every single detail in a widget. The widespread problem that usually affects an eCommerce crowdfunding app solution is their minimal compatibility with Shopify’s different themes. Fortunately, the above mentioned Shopify crowdfunding app doesn’t have such a problem and it has no problems with mobile optimization. Now that we have discussed the technical part, let’s see if there are any other problems of crowdfunding in Shopify.
The Strings Attached
Usually, crowdfunding campaigns are separated into donation and reward-based models. And if the former concerns mainly nonprofits, the latter is exactly what we need. The reward is usually perceived as non-monetary; however, it’s up to you to decide in what way to encourage your fundraising campaign participants. Meanwhile, <strong>your customers won’t be able to see the rationale in participating in a campaign that doesn’t have enough guarantees that the fundraising promises will be fulfilled</string>. So, beyond all the technical traits, you should make an effort to keep the promises you make to your campaign participants.
What should you do to avoid any troubles with the fundraising campaign?
<li>Provide all the necessary information on the campaign and your company’s credentials (addresses, full legal name, business registration documents, etc.)</li>
<li>Define the participation reward in detail (if any.)</li>
<li>Important: define clear deadlines of a product delivery (as a part of your debt commitment.)</li>
<li>Settle clear refund policy and procedures.</li>
<li>Add a campaign disclaimer that your company will try its best to provide the product and the reward but there could be extenuating circumstances that may prevent the fulfillment of donation promises.</li>
</ul>
Putting Funds in MotionWhen all the preparations are made, it’s time to create the crowdfunding campaign itself. You’ll need to select which products to include in the fundraising and state them in your Shopify crowdfunding manager app. Your products will have a “Fund It Now” button on their pages so that people can quickly decide to participate and take the necessary action. To gain more credibility for the fundraising process it’s highly important to include the following data to the Shopify widget:
<ul>
<li>Goals and sums;</li>
<li>Donation (pre-order) statistics;</li>
<li>Money raised;</li>
<li>Donation progress;</li>
<li>Sponsorship options (such as “Donate $10”, “Donate $100”, etc.)</li>
</ul>
To attract clients to the campaign, it is often enough to use the usual methods: advertising, attracting people in social networks, in thematic groups, with the help of mailings, etc. Remember that at the end of the time allotted for the fundraising, you will either need to extend it (in case the full amount is not collected) or fulfill your debt obligations to the campaign participants in accordance with the fund returning policy.
As a result of having fulfilled all the conditions of a successful campaign, you will raise funds for the implementation of your most daring business ideas and at the same time attract new, interested and loyal customers. Crowdfunding is a powerful tool not only for raising funds but also for attracting an audience to your business.
We very much hope that the practical advice given in this article will help you take a huge step forward in the development of your business. And how you can find the means to implement new business ideas?
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