Crowdfunding is a popular means of starting up a business or funding a project. In 2011, $1.5 B was raised through crowdfunding and $2.8 B was projected to be raised in 2012. Equity-based crowdfunding, where a portion of the company's future profits are up for grabs, is becoming more prolific. The question that remains to be answered is how much funding can be raised without registered brokerage firms before the SEC steps in and regulates this type of financing activity.
This free ebook comes from Scott Steinberg, who is the author of "Crowdfunding Businesses and Startups: The Ultimate Guide", a Huffington Post article which is a harmless plug for the book. There's also an accompanying video.
Crowdfunding and crowdsourcing are not new models; but I have taken an added interest in it because there is quite a lack of business and marketing support for those who do get their projects or startups funded this way. I like how this book is structured and it has a whole section dedicated to questions that entrepreneurs need to be asking of not just their own projects but also the ones that were successfully funded. Even if you get funded it doesn't mean that your project will succeed with its deliverables.
It was also interesting to see how quickly funding can be eaten away by unforseen risks. The example posed in the book is of Warballoon Studios that raised $37k to make iOS and Android game Star Command.
What's good about the book is that it offers solid pre- and post-funding project planning ideas and tips for each stage of crowdfunding, from creating an effective video pitch to building effective rewards. The best part was the Q&A section of the entrepreneurs who got funded.
Read more?
VentureBeat's Kickstarter failures infographic (41% of projects fail, even when funded)
Pre-populated Web Contact Forms
I don't know what's worse at the moment, being forced to register for each real estate website where I want to browse a listing or having fake contact data pre-populate when an online account is generated by an agency's contact management system. From time to time, I'll comp neighborhoods around where my rental is located to see if housing prices of the existing home supply (vs new housing starts) are rising, falling, or staying the same. The web contact form lead wall with Keller Williams is just one of those examples of a poorly thought out lead generation plan. I'm not sure why their web form thought I'm from NY, but it does. Unfortunately I have seen this type of web form behavior before where the back-end software captures and saves the contact info of the most recent transaction; in this case, a user from NY.
Here is an example of a pre-populated customer account that you probably don't want replicated with your own website:
And, to make it worse, you actually do have to check your account profile to see what email items the opt-in signs you up for because while there was only one checkbox to opt-in for email marketing, there were three options from KW. See below:
Surely, much success can be attributed to this lead gen program in terms of quantity of lead generated and number of validated email addresses that are added to one's in-house or partner email list. But, I'm not sure what they really mean by a trusted mortgage partner. There's also no double opt-in upon signing up, like a confirmation of an email address for starters. That's bending the opt-in rules a bit. Banks, insurance, and credit card companies do it all the time because they have subsidiaries or divisions that do partner-like activities. Also, there's no mention about a privacy policy or data usage policy on a user's account profile, or how to find out more info about it.
Here is an example of a pre-populated customer account that you probably don't want replicated with your own website:
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| Keller Williams: post-login from new account creation, user account profile |
It's unclear from the web page's source code if this is a home-grown web form or hosted by a third party provider. I'm not terribly inclined to check out other KW agency websites to test this out.
Snail Mail and Why We Love It
Why marketers love it is because it's a very well established mailing standard. Every property (and even those with just a box) has a postal address and you know that when spelled and annotated correctly, it has a 100% chance of getting delivered intact and mostly on time to the intended recipient, "to our neighbor", or "valued customer".
Why people love it is because it is an interactive communication piece with a tactile response. It's even better when it's personalized just for you; and, for the most part, it doesn't matter if it comes from a business or from a friend, although we like the latter part even better.
There are a lot of "standards" that just haven't died; although some who believe that everyone should be connected to everyone else online all the time want you to believe that it already has. The radio (118 yrs old). Fax machine (163 years, or for modern purposes 63 years). Libraries. Copiers. Telegrams. Land line telephones, etc.
Despite how traditional is trending against digital, according to the Direct Marketing Association's 2012 Response Rate report, the cost per order or lead acquisition costs were about the same regardless of the method used: direct mail ($51.40), postcard ($54.10), email ($55.24), and paid search ($52.58). Hmmm. Makes one wonder what's going on here.
It basically boils down to this:
Every marketing channel has its pros and cons, but what marketers and new entrants in the market need to be aware of is a) who you are trying to reach, and b) how much are you willing to spend on your campaign.
Why people love it is because it is an interactive communication piece with a tactile response. It's even better when it's personalized just for you; and, for the most part, it doesn't matter if it comes from a business or from a friend, although we like the latter part even better.
There are a lot of "standards" that just haven't died; although some who believe that everyone should be connected to everyone else online all the time want you to believe that it already has. The radio (118 yrs old). Fax machine (163 years, or for modern purposes 63 years). Libraries. Copiers. Telegrams. Land line telephones, etc.
Despite how traditional is trending against digital, according to the Direct Marketing Association's 2012 Response Rate report, the cost per order or lead acquisition costs were about the same regardless of the method used: direct mail ($51.40), postcard ($54.10), email ($55.24), and paid search ($52.58). Hmmm. Makes one wonder what's going on here.
It basically boils down to this:
Email
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Mail
|
Phone
|
Lower response
|
Higher response
|
Highest response
|
Lower cost
|
Higher cost
|
Highest cost
|
Every marketing channel has its pros and cons, but what marketers and new entrants in the market need to be aware of is a) who you are trying to reach, and b) how much are you willing to spend on your campaign.
Foursquare Day
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| A Foursquare Visualization. Pretty cool looking, utterly useless |
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| Another Foursquare Visualization. This one shows quantity by venue type, with no indication if you've visited a place more than once. |
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