Crowdfunding growth creates challenges
Crowdfunding is experiencing stunning growth – 167% growth in 2014 alone. But with that kind of growth can come growing pains.
For crowdfunding, though, the pains are especially acute, because the industry is expanding at a rate almost unheard of in history.
This means that crowdfunding sites – the platforms upon which the vast majority of crowdfunding campaigns take place – understandably have trouble keeping up with the quickly shifting landscape. The challenge is how to keep up with the proliferation of new technologies and services that consumers demand – particularly those that deliver greater freedom and control for the user.
Crowdfunding must innovate rapidly to meet the expectations of consumers who are looking for exceptional experiences at a time when the market is flooding with innovations like cloud services, software-as-a-service (“SaaS”), millions of new apps, ever-expanding social platforms and integrations, new methods in social sharing, SEO, online marketing, payment options, the advent of wearable devices and new technologies for internet marketing.
In the next few blog posts, we’re going to look at some of the ways crowdfunding can – and must – improve if it is going to live up to its potential.