#AWFchat: Insight into Crowdfunding with @AlbinBajramovic

#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!

 

Q:@AlbinBajramovic How much time is necessary to produce, manage, and execute a successful #crowdfunding campaign?#AWFChat

A:#AWFChat I usually say that 90% of your success will be determined before you ever launch

 

Q:@AlbinBajramovic speaking of success, what are the top three things needed to produce a successful campaign?#AWFChat

A:#AWFChat Strong Value Proposition, Social Capital, and a Kick-Ass Marketing Campaign = Success

 

Q: @AlbinBajramovic according to @StatistaCharts there are approx 191#crowdfunding platforms. Which ones do you recommend?#AWFChat

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

 

Q: @AlbinBajramovic what types of projects do better raising their money via #crowdfunding versus a traditional model?#AWFChat #startup

A: @routetv #AWFChat in rewards scenario consumer goods are the obvious choice. In B2B scenario you have to look at equity

@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:

Albin Tweet Chat

 

 

 

 

 

 

 

He also left us with some helpful resources and coupons for his online class-crowdfunding campaign engineering on udemy.

Looking for more crowdfunding info? Albin suggested CrowdCrux and bit.ly/1qsIBOm  password: CrowdfundingCE37 (Albin’s lectures summing up his last two years of research)!

Stay tuned for next week’s  Tweet Chat featuring Vincent Peone, as he discusses cinematography, writing, directing  and producing original content.

 

9/2 Tweet Chat with Vincent Peone