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Jul 02

Crowd Funding – Practical Applications – The Fashion Industry

The fashion industry is fuelled by creativity. But nothing stifles this ingenuity more than the creator not having the required funds to bring their dreams and visions to life. However, fashionistas now have at their fingertips a funding tool as inspired as their works, and that instrument is crowd funding with iPledg.

Resonating with their creative talent to design garments should be the ability to compose a funding campaign, with the use of engaging photos, catchy videos and winning text to describe the nature of their project. At least, if they are unable to compose this themselves, most people in the field of fashion are connected to people talented in the visual arts and from who they can request assistance.

Funding campaigns on crowd funding sites can then be sent out to the friends and family of the designer. This can be a great way to start a following, to build a greater fan base, or to consolidate an early tight band of devotees, and give them a story that they can then take to their networks and so the story grows. Constant reinforcement of the message through social media announcements every few days for the life of the campaign continues to build on the early enthusiasm, and can (at times) send the message viral, thus creating a fervour far greater than that originally planned (and leading to much larger amounts being raised than the original target!). The undeniable social proof then is the added benefit of a successful campaign.

But what to fund?

There never seems to be a shortage of projects and resources in the sketchpads of fashion designers (keep in mind too that acquiring these resources are each projects within themselves).

Securing support by way of additional designers, people to make the clothes, and professional assistance to plan for and to take the product to market are all projects that can be successful promoted and funded on crowd funding sites. These are integral components to success (and fame!) but often remain unaddressed due to lack of finance, but now there is no excuse for not being able to tackle these with the correct budget and funding at hand.

And getting the fashion out there, to the market, is now an exercise within reach of every fashion designer, thanks again to the use of crowd funding. Promoting the works or to exhibit by way of fashion shows can now be funded by simple and effective campaigns posted on and promoted through sites like iPledg. Depending on the available crowd and the budget, quite lavish affairs can be staged with the backing of the people that are attracted by the campaign.

Getting people to commit to support a crowd funding campaign for a fashion project is perhaps one of the easiest parts of the overall task. People support projects because they know and like the initiator of the campaign, so family and friends become the first port of call to enlist early followers, and this lays the foundation for people from broader circles to feel comfortable about coming on board. Some supporters will become engaged because they feel passionate about the cause being funded or the results it will bring. This is especially true in the fashion industry when you consider the development of local fashion, or developing clothing that uses a particular material with a wider following (like eco-parenting whose followers are passionate about the clothing made from natural fibres).

Perhaps the greatest rewards or inducements that can be offered are the clothes themselves. The fashion designer can engage followers by offering (as an example) a $100 item for free when someone pledges $60 to their campaign. Better still, the inducement can be something like an invitation to an exclusive fashion show (people love to get to an event they otherwise would not have been able to attend). For a higher pledge, perhaps supporters could be offered a special, one-off items tailor made for them (“If you pledge $400, we will give you for free a tailor made silk jacket”).

Creativity now has fertile ground on which to grow and prosper. No longer do dreams have to end in the sketch books or on the cutting room floors of the talented designers who have, until now, been unable to fund their works. Their creativity no longer needs to be locked away, for the potential is now unlocked with the opportunity to fund creativity with crowd funding with iPledg.

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