#AWFchat: Insight into Crowdfunding with @AlbinBajramovic
Written by: Catherine Satcher
Earlier this week we hosted our second Tweet Chat with Albin Bajramovic and learned the ins and outs of crowdfunding. Albin is the founder of FundCaster.co, a crowdfunding statistics and prediction engine.
So what does FundCaster.co do?
They use Big Data, Machine Learning and Predictive Analytics to help entrepreneurs analyze and increase their chances of running a successful crowdfunding campaign.
Our chat began with a brief explanation of crowdfunding according to Albin. He has two definitions but tends to lean towards the latter, he tells #awfchat:
1. The use of small amounts of capital from a large number of individuals to finance a new business venture
2. Collaboration and resources pulled together by a network of individuals to support the efforts and value creation initiated by other people or organizations
After defining crowdfunding for us Albin provided answers to a number of different inquiries regarding campaign success, the future of crowdfunding and he provided information about crowdfunding resources. Check out a few more of his responses below!
A:#AWFChat I usually say that 90% of your success will be determined before you ever launch
A:#AWFChat Strong Value Proposition, Social Capital, and a Kick-Ass Marketing Campaign = Success
A: @ATLWEBFEST @StatistaCharts A9 #AWFChat it will only make marginal difference if you are already successful..otherwise it really wont matter. However, plenty of people are quite successful running a crowdfunding campaign on their own website
@routetv #AWFChat There are four types of crowdfunding – Donation, Rewards, Equity, and Landing. Here, we are only talking about rewards..https://flipboard.com/section/crowdfunding—campaign-engineering-bzJif1
Albin concluded the chat on a very optimistic note regarding the future of crowdfunding:
He also left us with some helpful resources and coupons for his online class-crowdfunding campaign engineering on udemy.
Stay tuned for next week’s Tweet Chat featuring Vincent Peone, as he discusses cinematography, writing, directing and producing original content.