More Businesses Use Crowdfunding To Finance New Products

crowdcruxFrom artists to entrepreneurs, the media has portrayed crowdfunding as a way for individuals like you and me to pitch our greatest ideas to the world in the hopes of securing financing, generating buzz, and building a foundation of early-adopter customers.

However, some of the most successful campaigns have been the result of businesses adopting the crowdfunding model as a realistic way to finance research and development expenditures for new products. Think Wasteland 2 by Interplay Productions, War for the Overworld by Subterranean Games & Rise, or TouchDome, with their latest luxury watch.

Unlike individuals, businesses have an existing customer base, brand presence, and the ability to spend money on marketing, advertising, copywriting, and video production services. Crowdfunding for products has become an increasingly more realistic option for existing businesses.

Read more at CrowdCrux


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