Crowdfunding For Events
You’ve probably already heard of the crowdfunding site, Kickstarter. It has become very widely used to help individuals and startups fund new initiatives and products. Now, however, an online ticketing startup called Picatic has a similar opportunity for event venues, promoters, and planners to fund their events through a brand new service they have called EventTilt.
What Does EventTilt Do?
EventTilt has the goal of helping event planners make sure they’ll turn a profit prior to actually going through the entire process of hosting an event. Organizers can even give incentives like free merchandise or discounted tickets to people who help fund their events.
For companies that host events, going all the way through the entire planning and execution process can be a big pain if the event doesn’t end up turning a profit. This kind of site can help prevent the letdown that comes with a poor turnout by letting organizers pick a small amount of money or number of attendees needed to turn a profit before showcasing an event. There are fees when you post an event on the site, unless the event is no cost to attend.
The concept is a little different than just giving the guests the choice of pre-ordering tickets, since it lets people buy tickets or donate to an event before it ever gets booked. If the event gets enough funding or donors, then it will be put on. If it doesn’t get enough donors or funding, then the organizer will realize it is not worth the pain and the event just won’t happen.
Have You Heard Of Picatic?
Picatic is a website that lets anyone crowdfund an event. It is easy to bring an event to life with event funding. You can raise funds and test market demand without any risk.
- Set a funding goal and deadline for your event to see if the market is responsive to it.
- Reward early buyers by offering lower ticket prices to early buyers.
- If you reach your funding goals, all the ticket buyers’ credit cards will be charged on the deadline. The events that are funded successfully will then begin selling tickets at regular price.
What Are The Benefits Of Event Crowdfunding?
Event crowdfunding is a great to test out how well your event does in the market. You can see if people are even interested in going to your event, and you won’t waste any time or money funding an event that you might not be able to turn a profit on. Plus, you begin to generate a large pool of event-goers – because people who have funded your event are more likely to show up as audience members. Event crowdfunding builds on the successful principles of sites like KickStarter and GoFundMe, and it could just be the future of putting on special events.
Event crowdfunding removes the financial risk that event organizers and promoters face when they’re trying to turn a profit (or at least not lose money) when they’re setting up an event.