Does Crowdfunding Work? Justina McCaffrey, Indiegogo User, Explains
Justina McCaffrey, Indiegogo user, is one of the biggest names in bridal design. Her gowns have been featured by Kleinfeld’s, one of the most famous retailers in the world, and have graced the pages of numerous magazines. With a large following of fashion enthusiasts, McCaffrey is certainly one of the most highly regarded professionals in the world of bridal fashion. Some may wonder, then, why she has opted to pursue crowdfunding for her latest endeavor.
After parting ways with her business partner, McCaffrey decided it was time to pay more attention to the artistic side of fashion design. Because she is well known for the romance and detail that she puts into each and every dress that she constructs, McCaffrey has made the design of her new line a priority—and has opted to turn to Indiegogo to give fashion enthusiasts, future brides, and other supporters the chance to become involved with the development and reveal of her latest collection.
While crowdfunding has become an integral aspect of many organizations’ efforts to raise the capital necessary to carry out new projects, the process of crowdfunding is, in many instances, rather mysterious to members of the general public. Ultimately, the goal of any crowdfunding campaign, like that of Justina McCaffrey, Indiegogo user, is to raise a specified amount of money in order to fund a certain event, activity, or product. In McCaffrey’s case, the money raised on Indiegogo will pay for the presentation of her highly anticipated collection in a runway show during Bridal Fashion week New York City this October. Known within the industry as “fashion forward”, McCaffrey is confident the show will excite buyers, sparking broad international sales for Justina’s innovative and stunning bridal gowns.
Websites like Indiegogo allow users to post information regarding their anticipated project in order to win the support of the individuals who are looking for an initiative to fund. Contributions are accepted in any size, but many campaigns provide incentives, or perks, for those who donate at higher levels. If the funding goals put into place by the campaign are met, then the campaign receives the money and follows through with these incentives on its own. Ultimately, the process creates a stronger relationship between the brand and its supporters than other types of funding.
Justina McCaffrey, Indiegogo user, is offering some extremely alluring perks, adding tremendous value for contributors. The first is awarded at the $25 level, and includes a color sketch of one of the dresses from the collection, suitable for framing and personally autographed by Justina. At the $100 level, supporters receive a luxurious pashmina-style shawl made from 100% silk. When donating $375 or more, individuals will receive a full collection of personally autographed sketches comprising images of the 15 dresses in the line. The next perk “Calling All Brides!” is available at the $2,000 level. Brides who support at this level receive a double bonus; 50 % off the retail price of one of the new gowns and will have the $2,000 donation is credited to the purchase price. At $5,000, brides will be given her choice of dress and veil from the new collection, as well as two invitations to the fashion show, a meet and greet with McCaffrey, and the ability to try on sample dresses. Individuals who donate $7,500 will be able to choose a dress to be named after them, will be given two invitations to the fashion show, and will meet McCaffrey while in New York City. At the $10,000 mark, supporters will receive a one-of-a -kind dress and veil, specifically designed for the bride by McCaffrey, two fashion show invitations, and the ability to name one of the dresses in the new line. Finally, at $12,000, McCaffrey is offering the design of a unique wedding gown and veil, two invitations to the fashion show, a meeting with McCaffrey, the ability to name one of the dresses, and the personal assistance of McCaffrey to the bride as she dresses on her big day (Justina will fly to the wedding and help the bride ensuring that she looks picture perfect for her walk down the aisle).
“Crowdfunding is a new way to build a business because it really focuses on interaction between entrepreneurs and their supporters,” comments Justina McCaffrey, Indiegogo user. “I am thoroughly enjoying the Indiegogo campaign that I have embarked on because it has made me look at my work, and my goals, from a new perspective. While art and creativity are, ultimately, at the center of everything that I do when I design, I am also now thinking more about the nuts and bolts of financing the business process that facilitates my art becoming available to the awaiting bride. Crowdfunding is also providing me with a direct link to my supporters by creating a new level of partnership between the creative process, the bride and the designer. Getting to know these women on a personal level through building the relationships that crowdfunding promotes, offers a new way to connect to the dreams and hopes of my brides.”
Justina McCaffrey, Indiegogo User, Explains Importance of Transparency
One of the most essential aspects of a successful campaign, McCaffrey asserts, is to make sure that supporters know what, exactly, they are investing in. Transparency is key when asking the public for funding, and McCaffrey and other crowdfunding users make an effort to ensure that every dollar that is requested is accounted for. On her campaign site, Justina McCaffrey, Indiegogo user, has included a breakdown of how all of the money that is raised will be used.
Given the number of companies that have misused funds or allocated them in questionable ways, it is no surprise that today’s honest entrepreneurs are looking for ways to establish trust between their companies and their supporters. McCaffrey is dedicated to establishing clear expectations regarding where the money she raises will be used—and how it will benefit the design of her line and the ability of her brand’s supporters to access these gowns at local retailers. In addition to outlining how the initial amount of money requested will be spent, Justina McCaffrey, Indiegogo user, has also planned for stretch goals, meaning that she has provided a breakdown of her anticipated use of funds if her campaign exceeds its current fundraising objective.
Justina McCaffrey, Indiegogo user, looks forward to completing her crowdfunding campaign and continuing to build the relationships with her supporters that this experience has encouraged.
Justina McCaffrey, Indiegogo user, is an internationally acclaimed bridal wear designer. Winner of many awards, the highly regarded McCaffrey has gained a substantial following due to the romantic and trend-setting designs that make up her bridal collections.