The crowdfunding business model is a way for businesses and startups to seek support from individuals within their niche. It offers financial backing in smaller increments, thus building a community of individuals who might be interested in your company’s growth and offerings. Crowdfunding helps businesses grow by gaining potential loyal customers as backers, while also allowing businesses to start projects that they may not initially have the funding for. In this case, the growth is twofold, since backers offer an opportunity for exposure and direct communication with a startup’s target demographic, as well as financial backing.
from StartUp Mindset https://startupmindset.com/when-to-consider-product-incentive-crowdfunding-for-your-business/
Austin Rotter 