Customers Prefer to Crowdfund Products They Can Improve.

This article discusses the preference of customers to crowdfund products that they can improve. Crowdfunding platforms like Kickstarter and Indiegogo have allowed companies to connect with consumers during product development, replacing focus groups with real customers who have a stake in the final product. However, many campaigns still fail, and the article explores the reasons behind this. It suggests that presenting fully developed products may discourage customer input, and highlights the value that Kickstarter participants place on being able to contribute to product development. The article concludes that entrepreneurs should avoid overdeveloping their products and instead offer customers a stake in a work in progress. [Extracted from the article]