ABSTRACT
The concept of “crowdfunding” refers to the practice of soliciting financial support from a large number of individuals for a specific project or commercial venture that needs financial backing. This trend has evolved into a viable alternative means of financing that is both practical and effective. Despite the widespread use of crowdfunding, studies show that the vast majority of projects never achieve their intended funding targets. How can innovators best prepare for crowdfunding campaigns, and how can creators best ensure that their crowdfunding efforts are successful? We take a look at the components of a successful crowdfunding campaign and discuss the techniques that need to be implemented in order to ensure a good outcome, as well as the structure of the pitch and the process of raising awareness.
