10 Benefits of Product Design For Crowdfunding

Every day, numerous products are dreamed of, but sadly a few accomplish a successful product development journey. Mostly the startups are the sufferers here as they have little to no budget to convert their ideas. Here crowdfunding comes to the surface. It’s a popular option that newbies choose to accumulate funds to get support turning their product ideas into prototypes and ahead to a finished product.

Per a recent report, the global crowdfunding market will likely grow 2x by 2027 from $12.27 billion, as recorded in 2021.

According to experts, crowdfunding can be successful and unsuccessful depending on varied factors, but the major one that should be prioritized is creative product design. Yes, you read it right! Creativity and crowdfunding are interconnected, the more novel designs your product reveals, the more secure funding and potential backers it drives.

Innovative products have around 77% success rate, that’s quite high.

Ensuring amazing creativity going beyond aesthetics can help you attain successful crowdfunding. How? 

Well, you need to follow some sureshot practices to make your product design compelling enough to drive anticipated crowdfunding. 

And for that, you don’t have to go anywhere, you have landed on the right page. 

In this blog, you will get the required knowledge and understanding of the essential drivers of successful crowdfunding campaigns. 

What is Digital Product Design?

Product design is creating a visually aesthetic and interactive interface of a product aiming at consumers’ requirements aligning with technical constraints. 

Key Parameters of Product Design

• User Interface (UI) Design – Focuses on users’ behavior and needs. 
• User Experience (UX) Design – Focuses on the product’s look and feel. 
• Interaction Design – Focuses on helping the users to get the details they need efficiently. 
• Information Architecture – Focuses on the user’s interaction with the product.

Here we discussed what a product design is, moving ahead we will figure out why a business should go for it before crowdfunding. 

Why Your Business Need Product Design Before Crowdfunding?

A never-failing idea is a must on the grounds of successful crowdfunding campaigns. So, to attract potential backers, businesses, especially startups need to strengthen their base with an exceptionally crafted product design. 

Here we will talk about some parameters that will state the importance of product design for businesses before crowdfunding. 

1. Stay Competitive

Crowdfunding platforms are already overwhelmed with ideas. You need to showcase yours with a high-quality and user-friendly interface to stand out. An informative and clear page will raise confidence in possible sponsors for investing in something unborn.  

2. Clear Communication 

For a spellbound narration of your product, its design should hit the extreme of aesthetics and go beyond. The use of interactive elements, text, and visuals nurtures better user understanding and improved engagement. 

3. Improved User Experience

An easily navigable and user-friendly interface of your product design will enable backers to instantly find the details they are looking for and can make a decision in your favor for a frictionless process. 

4. Build Trust

Your product design needs to focus on transparency and present your product in progress. This will instill a sense of trust in potential contributors that would maximize your chances of getting secure funding. 

These benefits were enough to prove the fact that investing in product design fuels crowdfunding campaigns. And, you need to keep it on your priority list before you go for crowdfunding.

10 Advantages of Product Design for Crowdfunding Campaign

After knowing that product design can help your business keep away the barriers that may block your pathway towards boosted conversions and possible chances of funding, it’s time to uncover the top advantages of product design for a crowdfunding campaign. 

1. Investor Confidence

Potential backers always look for a carefully planned product with a professional touch to invest. Presenting a well-crafted product page showcasing a user-friendly interface, top-quality visuals, and a clear value proposition boosts investor’s confidence. 

2. Market Validation

Product design with high-fidelity prototypes and clear user flows succeeds in accumulating early feedback on your product’s concept and improving it based on the user’s requirements. This ensures your product aligns with your target audience, validating the market. 

3. Cost-Effective Prototyping

Without spending an extra penny on physical product development, you can create mockups and prototypes using product tools. This way, you can try distinctive design ideas and quickly iterate before you invest a heavy amount in manufacturing. 

4. Global Reach

As your product design is of top-notch quality, it can reach potential global backers using the internet with no boundaries. On the wise, you can expand your funding possibilities ahead of the local market. 

5. Interactive Demos

You can reveal your product’s functionalities by creating interactive and demo videos for improved user experience. This way, investors can witness your product’s performance and learn its value proposition. 

6. Iterative Improvement

Using analytics tools, you can track users’ behavior on your campaign page and analyze their interaction with your product design. Based on your accumulated data, you can constantly make required modifications and boost conversion rates. 

7. Early Adoption

With an engaging product design, you can instill excitement in your product, making backers adopt your product early who are eagerly waiting to own it first. 

8. Building Trust and Credibility

A clear and professional design builds trust in possible investors. Besides, transparent communication of funding goals, data visualization, and a clear design process contribute to creating credibility and driving investment. 

9. Enhanced Communication with Backers

With an aesthetic product design, you can create an informative and clear campaign page that effectively unveils your product objective and roadmap. This clarity and easy access to information promotes better communication and improved engagement with your investors. 

10. Engaging Marketing Materials

From your campaign page, you can utilize the design elements, like explainer videos, top-quality visuals, and more, and repurpose them for social media marketing and other marketing jobs. This leads to a compatible brand experience and assists you drive possible investors across various platforms. 

Such that, using the power of your product design, you can craft a captivating crowdfunding campaign that grabs attention, fosters trust, and finally secures the expected funding to emerge with a real product in the market. 

Best Practices for Leveraging Product Design in Crowdfunding Strategy

After knowing how product design can be helpful for your crowdfunding campaign, now let’s uncover the best ways to make the best use of your design to create a crowdfunding strategy accordingly and increase its impact. 

1. Start Early and Plan Strategically

Don’t keep it for the last minute. Start early integration of your design into the initial phase of your campaign planning. Thus, you can create a unified and consistent user experience across every campaign page, product prototype, and marketing material. 

2. Focus on User-Centric Design

Remember that backers get attracted to a design that prioritizes user expectations and requirements. To attain this, you should conduct user research and know your target audience and their anticipated interaction with your campaign and product. 

3. Highlight the Design Process in Campaign Storytelling

Let you know that stories connect people. Keeping track of this, you can unveil your design process in your campaign narrative. It may include user feedback you considered, early sketches, your thought demonstration, and efforts that can create excitement and build trust.  

4. Leverage Visualization Tools for Maximum Impact

The robust convincing tools and visuals play an important role in laying maximum impact. For that, you can use top-quality product images, interactive prototypes, and engaging explainer videos to put forth your product’s user experience and functionality. 

Being user-centric and utilizing the strength of your product design can help you create a successful crowdfunding campaign that catches minds and of course, funds. 

How can PixelBrainy Assist in Designing Products for Crowdfunding Campaigns?

Being a competitive domain, Crowdfunding demands a powerful product design to drive success. Partnering with an experienced and creative design company, skilled in this segment can arrive with several benefits:

• Proven Experience in UX design, UI design, and visual communication.
• Establish streamlined workflows for product design, ensuring an efficient and smooth process.
• A clear understanding of backers’ needs.
• Creates users’ journeys prioritizing clarity, and trust, and drives investors’ support. 
• Leverage engaging interactive elements, text, and visuals.
• Provide prototyping services for creating interactive mockups showcasing its functionality.
• Adhere to your campaign page to specific functionality and guidelines of the platform.

So, by hiring a top company, you can get the best product design services for crowdfunding campaigns, and you can get the required resources, expertise, and strategic guidance. Resultantly, with an engaging campaign, you can attract potential backers, and help you to reach your funding goals. 

Conclusion

Product design is a must for crafting an improved user experience that can foster trust, engage potential backers, and finally drive a successful crowdfunding campaign.

But, here’s a tricky turn where you need to partner with PixelBrainy, a design company with years of experience and skills that can make your design visually appealing ahead of aesthetic and drive potential backers to convert your dream into reality.