Crowdfunding Coursework (Coursework Sample)

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Funding is the fuel that allows ideas to be developed and new businesses to be launched. Without funding, brilliant ideas ferment away in the minds of entrepreneurs, artists, and other creative that may be destined to remain trapped inside forever. However today, entrepreneurs can seek funding for ventures and projects via crowd funding. The connectedness of the internet has catalyzed this concept. Crowd funding refers to a process of soliciting funds from the general public to create projects or fund businesses (Young, 2013).
However, the benefits accrued out of crowd funding do not simply accrue but require sufficient effort geared towards achieving success. Relevant deliberations need to be made in developing a marketing plan with a target audience in mind together with media and public relations (PR) strategy. Therefore, it is necessary to develop a suitable concept upon which a crowd funding campaign will be based (Taulli, 2013). For this project, the crowd funding campaign will target a particular audience and will employ a number of PR and media strategies as discussed in the paragraphs to follow.
Target audience.
This crowd funding campaign will mainly target entrepreneurs and investors who will be willing to put their monies into this project. The group targeted mainly consists of young entrepreneurs and investors since they comprise the vast majority of social media subscribers. In addition, this group of will provide vibrant validation of the whole concept and campaign through constant feedback.
Media strategy and PR including marketing.
The media strategy and PR strategy overlap due to the close nature of the effect of one on the other. The media strategy mainly involves the manner in which the social media is handled. Social media promotion serves as an integral element of modern day crowd funding (Publishing, 2014). The campaign requires an active social media presence coupled with regular promotion. It is imperative to ensure that formulation of a platform that responds quickly to current social media trends. In addition, media strategy will involves the manner in which press releases will be made. Press releases will be made after consultations with professionals. The press releases will also consider what competitors do and looks up journals and magazines for more ideas. The crowd funders will undertake media training classes in order to learn, for example, about message maps.
The PR strategy deals closely with media and the campaign will focus on a number of points. The campaign will build an effective PR database using services such as Vocus and MuckRack. PR specialists will be tasked with sorting the database by subject matter, location, media outlet types and beats. In addition, these specialists provide a wide variety of social media monitoring tools so as to track PR issues online.
Email marketing has been identified as a suitable platform to conduct marketing of the campaign. It will involve building an integrated email database of customers and followers across various social media platforms. The idea of creating a blog seem...