In 2012, more than one million individual crowdfunding campaigns were established globally.
As the industry grows, so does the number of campaigns – and less than 50,000 of new start-ups receive venture capital funding annually, because most funding goes to established companies. That leaves the other 99.5% to seek funding from friends, family, crowdfunding or angel investors.
When you launch a campaign on a conventional crowdfunding mega-site, you are instantly in competition with every other campaign on the site – and all of the additional campaigns that will get listed in future. The more the industry grows, the less relevant your campaign becomes.
Not only that, but Fortune 500 firms are actively experimenting with crowdfunding as a product launch and testing platform, further pushing out the small players. UC Berkeley is actually looking into providing courses for corporate executives wanting to launch crowdfunding campaigns. As a result, traditional crowdfunding platforms, and the industry as a whole, are becoming very crowded, with more and more competition. The bar for getting attention for your campaign is rising for small new start-ups. The cost and effort to successfully execute large campaigns is becoming prohibitive for entrepreneurs. The bigger the crowdfunding site, the less a small start-up can compete. This is counter to the whole notion of crowdfunding, which was supposed to assist start-ups penetrate the vast expanse of the marketplace.
Crowdfunding was imagined as a place where great ideas that lack funding can find people with funding who like great ideas. It can still work that way. But every time a campaign uses crowdfunding essentially as a cheap tool for publicity or for product launches, it buries a genuine upstart crowdfunding campaign lower in the rankings.
And it’s not even a level playing field. The mega-sites have their own way of doing things and that often puts the little guy at a disadvantage. Campaigns that catch the eye of the mega-sites, or that succeed quickly, move up the ladder, featured on the most heavily trafficked part of the site. A genuinely struggling crowdfunding campaign can get buried beneath this avalanche.
This is one of the things that make BidOkee revolutionary. You are not competing with anyone else on the site — because you own your own site. You have your own URL. It’s your own brand. You make the rules. No one who comes to your site will get drawn away by shiny objects in the right-hand column.
BidOkee offers something else that is revolutionary. When you participate in our loyalty rewards program, which features an auction hub and ecommerce platform, your backers can use reward points to bid on, win or buy very cool products. This also presents an opportunity for you to showcase your product in front of the backers from all BidOkee campaigns, without compromising your networks. You can feature your products on the BidOkee ecommerce site and benefit in big ways.
First, it puts your product in the sightlines of thousands of eager consumers looking for the latest cool thing.
Second, this generates QUILs – qualified unique Internet leads. QUILs are generated when people bid on your product but do not win it. These hundreds or thousands of potential customers who have demonstrated intent to purchase may be the most lucrative leads you could ever get. You can contact them with incentivized offers that almost guarantee sales.
This kind of cooperation is just another way that makes BidOkee revolutionary in crowdfunding.
To make the revolution happen, we need your help.
We are crowdfunding for crowdfunding. We have built the prototype and are now raising the capital to turn it into the do-it-yourself platform that will make it possible for anyone to easily build and run their own successful crowdfunding campaign.