One of the most common entrepreneurships today is to create an app. Since many of our problems in daily life can be solved through one. However, developing an app requires time, dedication and above all money. More money than you think. For that same reason, today we’ll tell you how to use crowdfunding to get financing.

Develop an app through crowdfunding

Although there are many crowdfunding platforms today, not all of their campaigns are successful. And there are thousands of projects of the same subject that compete with each other for contributions. More than likely, as a result, some platforms focused on a specific niche were born. As it’s for example the world of apps and technology.

Fluent Forever App Crowdfunding
Fluent Forever is an app that allows you to learn several languages ​​in a very useful way. It was financed through crowdfunding and raised more than $1,500,000 in two campaigns. Source: Lexplorers

Regardless of where you choose to set up your campaign, the truth is that you can create your own app. And you can get the financing you need for it through crowdfunding. However, like any project, this requires a premeditated preparation. Today we’ll tell you what you need to know in order to develop an app and finance it through collective financing.

Create a functional prototype of your app

The first thing you should do is have a working model of the app. That meets the goal you set and also meets the needs of customers. Of course, with everything that an app implies. The type of app that you’re going to create, that is a profitable idea, how many functions it’ll have, graphic design… You as a developer must be responsible for directing your app to success.

what is needed to develop an app
Choose the operating system where you plan to launch your app, make a budget of the money required. The type of app determines how much money you might need. Source: Bacancy Technology

There are platforms like iBuildApp that allow you to develop an app with templates and in a simple way. That is, in case you’re a beginner not very gifted in programming. But by all means try to make your app work and fulfill its function, this is very important. Why? Since if you’re not able to satisfy your customers on a large scale, people will see this flaw and consider your app as fraudulent.

Related: Apps That You DID NOT Know Were Based On Collaborative Economics

Take 2 or 3 months to prepare your crowdfunding campaign

Once you have a prototype that works, it’s time for you to dedicate yourself to the campaign. This step shouldn’t be taken lightly, since it’ll determine the success of the aforementioned campaign. You need to start promoting your app through social networks and build relationships with partners and key people. The purpose of this is to make known not only your app, but your intention to fund it with a campaign.

importance of marketing crowdunding
The promotion of a crowdfunding campaign shouldn’t be limited to social networks. It should include public relations, traditional marketing and other similar methods. Source: Granby Marketing

Promote your app, attract the attention of the audience you know will be interested. Don’t forget to determine reasonably how much money you need. Create a team specifically designed to promote the crowdfunding campaign. The goal of “creating an audience” and “creating relationships” is that once your campaign is launched, it’ll certainly receive contributions on the spot. Use all the means at your disposal: social networks, media, family and friends, strategic alliances, etc.

Related: Do You Have What It Takes To Succeed In Crowdfunding?

Prepare a reward system for contributors

During the time you’re developing your app, it’s vital that you make a reward system. Which dictates a reward that a contributor will receive for a certain amount of money contributed. Check the terms and conditions of the crowdfunding platform to find out what your limits are. And based on the type of app that you’re going to develop, think of rewards that you can offer to people.

perks of a crowdfunding campaign app
The perks allow people to be encouraged to contribute to your campaign. As a developer, you should know better than anyone what’s more attractive to people in an app. Source: taccuinistorici.it

Remember: the more money contributed, the greater the perk should be. If you can, create attractive rewards specifically for the first people who contribute to your campaign. This in order to encourage even more early contributions. It could be that the first to contribute will receive a discount or a particular benefit. To do this you place a limit on how many people can opt for a reward.

Related: What Is Needed To Make A Crowdfunding Campaign?

Launch your campaign, seek success and don’t stop

If you did everything right and took the momentum you needed, you should be able to raise 40% of your goal in the first 72 hours of your campaign. This’ll encourage more people to contribute as they see how much money you’re raising. During the half it’s possible that the number of contributions goes down, but with a good marketing plan you can increase them during the end.

Assuming that you achieve your goal or surpass it, don’t think that everything ends there. Keep in touch with your customers in social networks, notify when the rewards will be delivered. And above all, appreciate all the support you’ve received. A crowdfunding campaign shouldn’t be exclusively to raise money. But also, it should be an opportunity to create a solid and loyal customer base.

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Related: What’s The “40% Rule” In Crowdfunding?

Creating your own app is closer than you think…