September 03, 2021

Crowdfunding ? Let's get into it !

What does crowdfunding mean ?

Crowdfunding is the practice of funding a project, a business or venture by raising money from a large number of people. Large groups of people pool together a small amount of financement to provide the capital needed to get the project off the ground. Any type of Individuals, charities or companies can create a campaign and anyone can financially contribute.

How does a crowdfunding campaign work ?

One of the most important things is to determine the scope of the project to make sure to properly choose where and how to set up the campaign.

Asking for the right amount of money is also very important. This amount should be based on certain factors such as budget, cost, inventory, etc. It can be a tricky point as some platforms such as Kickstarter.com is an all-or-nothing funding model.

Define the project timeline strategically and communicate about it such as how long your campaign should run, how long it will take to deliver the finished product, and delivery dates for backers' rewards.

Many marketing teams have studied the most successful campaigns on different platforms. Too short campaign doesn’t give the time to backers to properly pledge on a project they like. Too long might also be tricky. On kickstarter.com the average of a successful campaign is around 30 days or less.

What type of platform can we use ?

Crowdfunding became very popular in the late 2000’s and many platforms & websites are now hosting campaigns. Among the most popular ones, there is :

Kickstarter.com (leader on overall project- with an all-or-nothing funding model)
Indiegogo.com (overall project)
Patreon.com (for creators)
Gofundme.com (for personal project)
Ulule.com (french leader)

What are the advantages of launching a crowdfunding campaign ?

Compared to applying for a loan or seeking out accredited investors yourself, setting up a successful crowdfunding campaign can lead to an easier way to reach financial goals.

Seeking an investor in an early stage of a business is very much time-consuming when you have to focus on building and operating the business. The business’s kpi (key performance indicators) which are usually used to define the investor contribution might not be at their best when in the early stages. Getting a loan granted from the bank can also be a struggle for new businesses.

Crowdfunding campaigns are also a place to build traction, social endorsement & media exposure. Press and media coverage will create more eyes on the campaign and create lasting brand awareness for the project. This can come in the form of a feature story on a blog, social media, or even podcast.

Last but not least, it’s a good opportunity to get feedback & brainstorm in order to refine your idea if necessary.

What does it have to do with Maison Madame A ?

Since the beginning, Maison Madame A. strives to be 100% sustainable. The first lingerie collection we created is partly made from recycled fabric. However, we aim to do more, be better when it comes to ethics & sustainability.

After being stuck in France while this business is usually operated from Bali, I got introduced to natural dyes, a way more eco-friendly way to dye our clothes. Natural organic fabrics and dyes became then an evidence.

We are launching our campaign on Kickstarter.com the 14 of September 2021. Our goal is to raise 6000 euros. We will use these funds to produce the rewards, develop a new line of lingerie hand dyed & handmade through a 100 % sustainable process, and also rebuild our website.

So get ready ! We need your help ! See you the 14th for a great experience to live together <3