A look at the year ahead and what you can expect from the crowdfunding industry here in Australia and on a global scale.
Words by Ned Dorman, GM @ Pozible
As we charge rapidly into a new year, there are plenty of reasons to be hopeful after the last few years. The technology at our fingertips is constantly changing, connecting us from the confines of our homes, with words like ‘metaverse’ and ‘non-fungible’ becoming increasingly overused.
Our crowdfunding industry here in Australia is evolving too, with some amazing creative projects and products being launched last year. There’s also a huge focus on environmental and social causes, which we saw massive engagement and support for in 2021.
We’re proud to have launched over 200+ successful campaigns in 2021, with an average amount raised of $17,000 & a success rate of 68%—the highest of any crowdfunding platform!
This year we’re doubling down on our community of creators, our network of amazing supporters and the tools we create to connect them. Our values of creativity, sustainability and equality will remain at the forefront of everything we do.
Check out our top five picks for the biggest trends of 2022 below!
1. Community comes first
We’ve seen so much good come from engaging with supporters and fans directly through crowdfunding, from lifelong fans and future collaborations to new ideas and better product experiences!
You can’t think about #crowdfunding without first knowing who your community is, building trust around shared interests and showing up by giving regularly without the expectation of receiving anything in return.
Although the word community is definitely up there with most overused words right now, the power of finding your people and feeling a part of something bigger cannot be overlooked.
People want to share experiences, learn from each other and belong to something—this is an inherent human trait. No matter what the platform or how the participants interact, the rise of communities will continue to be one of the most important things in 2022!
2. More video, more often!
There’s more short-form video content now than ever, with vertical video dominating your social feeds. To convey a quick message, give thanks or share an update—nothing connects better than a video.
We’ve always been big believers in video as a medium to connect with an audience and share a message more effectively. When pitching your project or idea, a video allows you to show your personality and go deeper than just words on a page.
Look out for video in more places and how it can shape and connect creators to supporters at all stages of the crowdfunding journey!
3. Hybrid rewards & perceived value
The last few years have been tough for in-person events. We’ve seen innovations in what’s possible for online workshops, live-streamed gigs and virtual performances. Creators who excel will be thinking about how they can curate an experience for their supporters both in-person and online that will provide the most value while allowing more people to participate.
Physical products are always an important part of crowdfunding projects, but they a decent amount of planning and shipping to the recipients. Thoughtful products that are exclusive and well-made will always be in demand through crowdfunding campaigns.
The rise of NFTs has already proven that artists and creators can be profiting from online art and incentivising all their supporters with ongoing value in the form of collector's items or first-access to new works. This will continue to expand for many more use cases, with crowdfunding playing an important role in how projects can be owned and shaped by a community.
We’re looking forward to working with innovative creators who are ready to pioneer new ways to reward their supporters, with tangible products, online tokens, hybrid event experiences & public recognition.
4. The rise of side-hustles-turned-pro
For all those that either lost work or decided to quit a job that wasn’t fulfilling them to pursue something they are passionate about; your time is now.
There has never been a better time to launch a new business, creative work, debut album or photography book than right now. You have access to so many amazing tools and online resources to put yourself in front of the right people and share your idea with the world.
Expect to see a lot more amazing creative works and people following their passions, with the ability to fund their work directly from their community.
5. Campaigns are even more eco-conscious
Our world is still in a climate crisis and we need to continue to show up and promote awareness and ways we can be minimising our impact on the planet.
Campaigns that address these issues upfront, provide solutions to the many problems our society faces and are transparent about how the funds they raise will contribute to a better world will win over audiences. We’ll continue to work with and promote campaigns that are working to create change for the better and make our world better for all.
Planning your impact strategy and engaging with experts from the outset will allow campaign creators to adopt a more mindful approach to their fundraising activities. Do your research by engaging with trusted sources and finding a particular problem or niche that you want to address.
If you’d like to chat with us about how you can go about raising funds for a cause, reach out to our team for a chat today.
Final thoughts
There’s going to be a lot of new ways to connect with people and promote your projects, but the main themes of community, transparency and showing the value you can provide will always be the keys to success.
We can’t wait to bring you more news on crowdfunding, share exiting campaigns from visionary creators and platform updates from our team here at Pozible.
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Five Crowdfunding Trends to Watch in 2022 was originally published in The Pozible Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
