noun The practice of funding a project or
venture by raising many small amounts of money
from a large number of people,
typically VIA the Internet
Having committed to launching AURZA really soon using INDIEGOGO (an online crowdfunding site), one question that has come back quite a bit is “Great, but what do you mean by crowdfunding?!?”
4 reasons why we are using ‘crowdfunding’ to launch AURZA
- We have spent the last 12 months working to develop our product, supply chain, brand and technology. We now need to raise capital to turn our ideas into a successful business and ‘crowdfunding’ gives us an amazing platform to achieve that quickly whilst sharing our passion with our friends and family.
- Any money raised can be used exactly where we need it – to grade our designs (get all sizes made) and to get the website and supply chain to the level we need to deliver our brand promise. We are all ready to go go go and push the button with all of these as soon as we raise the cash.
- Some crowdfunding platforms allow you to get people to ‘invest’ in your business but IGG (the platform we have chosen) is about allowing your friends and family to see, share and engage in your idea and then pledge support by buying a wide range of rewards . There is something for everyone and every pledge of support gets something in return along with our eternal gratitude (it is NOT a donation)!
- By using our dresses as the ‘rewards’ we can get feedback on what’s hot and capture critical pre-sales to kick off our production
Before deciding to launch we had the chance to interview DEMA TIO from VIBEASE… These guys just raised 130K USD (vastly exceeding their 15k target) for their ‘wearable smart vibrator that brings 50 shades of fantasy to life’- seriously! They gave us some great insights on how to structure our campaign, hero our images and set up our communications plans so hopefully we will achieve our target too. By the way if you want to check out their product you can just click on the links below, you won’t be disappointed ;0)