Organization Name: Indiegogo
Industry: Crowdfunding website
Web references: http://www.indiegogo.com
Who are they?
One of the best creations of the internet has been the crowdfunding phenomenon. If you’re not familiar with the concept basically a person or entity publicly solicits funds for their product or venture. People decide to contribute money based on the pitch that they are given. And if you tug at the imagination or heart strings the payoff can be phenomenal.
The Pebble watch campaign was launched on Kickstarter with an initial goal of raising $100,000. The interest proved to be great and they finally closed with more than $10 million in funding.
Indiegogo is another big player in the crowdfunding arena, and they are doing anything they can to carve out their own niche. One of their trademark touches has been their willingness to promote their clients via their website and other social media platforms such as Facebook and Twitter.
Beyond just using their own online muscle to promote campaigns, Indiegogo sets a clear formula for increasing the success of their members’ campaigns. Very few campaigns succeed without the use of video, and Indiegogo has some of the most creative video clips in the crowdfunding arena. Encouraging hints like “Campaigns that post media after going live raise 80% more funding than those that don’t.” help foster innovation and keep the interest level high.
A Success Story
One very successful campaign came from Canadian band Protest The Hero. Their Indiegogo campaign to fund their new album raised $341,146, 273% over their ask of $125,000. What gave the band an edge was that they had already established an underground buzz leading up to their Indiegogo campaign. They also offered unique funding awards ranging from stylish clothing to handwritten lyrics to doing vocals on one of the album’s songs. They also mastered the art of cross-platform social media marketing with promotional pushes on Facebook and Twitter.
Protest The Hero – C’est La Vie (source: Soundcloud)
One of Indiegogo’s latest ventures is Outpost, which allows members to embed their Indiegogo campaigns on to their own websites. This gives members another outlet for promotion. There is no letdown in services offered as Indiegogo gives its Outpost users the full-fledged Indiegogo experience.
Indiegogo’s proactive approach to helping members promote their campaigns is something that has allowed its business to keep growing. Having closed another $40 million in funding in Q1 of 2014, it’s clear that Indiegogo isn’t going away anytime soon.
Submitted by: Richard Barrett, MOHLTC
Author Contact: firstname.lastname@example.org
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