Welcome to Episode 227 of the Success in Business Podcast, your host Tom Ryan and producer Jason Pyles have an incredible guest for today’s show. You are in for a real treat! We welcome back Roy Morejon, founder and President of Command Partners, which is a digital marketing agency in Charlotte, North Carolina. Their specialty is helping business owners manage their crowdfunding. They have raised over 80 million for their clients so far.
Roy Morejon, was a consultation for AOL and Microsoft as a teenager! As a 12-year-old he fell in love with AOL. (This is back when people were excited about getting e-mail. It was an event to log in and check your inbox. Now email marketing is everywhere.) He taught himself to code and hack the AOL system. He started up a little group on AOL called IQ. Eventually he was found out and he started consulting with AOL to help them fix their gaps. From there, he did some contract work for Microsoft when they were launching MSN. He realized that working for a large corporation wasn’t for him and he discovered his entrepreneurial spirit. He started his first agency in 2007.
Command Partners sets themselves apart by spending more time with their clients making sure that the manufacturing is truly teed up and ready for production so that there is no loss of trust with the community.
Tom Ryan asks Command Partners they really prepare their clients for the crowdfunding process and what business owners will they need to be ready to do, sacrifice and endure. Command Partners doesn’t just do advertising or PR; they manage all of the elements of the crowdfunding for the client. They take the ball; let them handle the anxiety and the worries for you. Request a Quote and Roy will be in touch with you.
What are the markers of a successful crowdfunding campaign? It’s getting the funding, of course, but also it is building up the initial community and getting the feedback from the beta testers. The whole idea is to get momentum faster and sometimes even fail faster if that will lead you to success sooner. Get the insight from your community before your official launch that way you are learning your lessons on a smaller scale first.
Tom and Roy discuss the difference between rewards-based crowdfunding and equity-based crowdfunding. What constitutes the right fit of business for certain types for crowdfunding. There must be a working prototype and there needs to be a marketing budget and a database of people.
So, what are the differences between the two most popular crowdfunding platforms? Kickstarter is the market leader and they have higher traffic and they are in the media more, they skew toward the male demographic. Indiegogo is the global crowdfunding platform, open to anything you want to launch including charity causes.
Check out our recent episodes to learn more about crowdfunding:
Thanks for listening!
You can hear more from Roy Morejon by checking out his podcast:The Art of the Kickstart.
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