From the course: Create a Go-to-Market Plan

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Crowdfund your innovative product

Crowdfund your innovative product

From the course: Create a Go-to-Market Plan

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Crowdfund your innovative product

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- [Narrator] For many businesses, marketing budgets amount to about 15% or less of their annual sales revenues. Although some businesses have the luxury of unlimited capital to fund their entire marketing program, including their new product launches. There are businesses that require more innovative ways to create and implement their GTM products. There's a newer option for companies with original innovative products. Use a crowdfunding platform to help with fees associated with your product launch. If you're not familiar with crowdfunding, it's the ability to use the power of the community or the crowd to raise money. Many professionals think crowdfunding is only for entrepreneurs and inventors. However, there are companies who use crowdfunding to raise funds for their marketing budgets, and for greater awareness at launch. There are several platform options, including Kickstarter. You can take a look at Indiegogo…

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