|Alternative Funding Network|
Crowdfunding isn't just for finance!
Crowdfunding helps companies not only with fundraising, but also with sales, marketing and product vetting. The article mentions M3D, a home 3D printer company that has raised $2.3 million on Kickstarter. In particular, these 8200 backers are the company’s first consumers –exemplifying the additional benefits of crowdfunding – its built in marketing and sales mechanism that is indispensable for small businesses that can’t afford to go directly to retailers. Crowdfunding also offers a form of consumer survey – with a successful campaign indicating that consumers would be interested in the final product.