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Participatory financing by Kiss Kiss Bank Bank

Adrien Biot, Business Development Manager at Kiss Kiss Bank Bank, talks about participatory financing and how to scale.

Kiss Kiss Bank Bank is a platform for participatory financing to enable projects to develop. The company does not support BtoB projects, but rather BtoC projects.

Kiss Kiss Bank Bank

This platform was created 12 years ago. The company continues to evolve in its field, and in fact, today they have developed other platforms besides KKBB. For example, Lendopolis which is a platform of remunerated loans for renewable energy development projects. There is also Goodeed which is a solidarity advertising application that allows you to make donations through advertising, i.e. to support social projects by simply watching an ad. The last platform is MicroDon, which is also a startup that does rounding on salary, i.e. rounding in cash.

The crowdfunding

Participative financing, or also crowdfunding, is the fact of having one’s project or part of one’s project financed by the general public. This is done through an investment that consists in taking shares in the capital of the startup. It can also be done by a loan (crowdlading), by a pre-sale especially for entrepreneurial projects or even by a donation.

The objectives of a crowdfunding campaign are:

  • Diversify its sources of financing
  • To have cash before launching the production
  • Communicate about your project
  • Strengthen your community and involve it in your project
  • Test your project / product with the public
  • Make sales and go to scale
Les objectifs d’une campagne de crowdfunding

On crowdfunding platforms, today the mode of operation is the so-called “All or Nothing” mode. If the project owner does not reach his desired sales in the time he has set, everyone will be refunded. There is no commission on the sales made, as the goal of the sales is not reached, and the project owner does not receive any funding. Adrien thinks that this is both a failure and a way to understand the cause of the failure.

KKBB has a dedicated coach for each project. He accompanies the project holders in a personalized way. The company also has a whole business model for crowdfunding. Statistically, KKBB has a success rate of 75%, which means that three out of four projects succeed in being funded and are 100% successful.

How to take the next step with crowdfunding?

The first step is to succeed in your storytelling before you even start. You have to tell the beautiful story behind the project. This is an effective communication tool in a content marketing strategy. Above all, you need to have communication skills to make the story as beautiful as possible to encourage people to get out their credit cards!

Then the second step, which is also important, is to have a community that is ready to support you. It is obvious that before launching your campaign, you need to have a community of subscribers. People who are interested in the project or people who have left their email to be contacted. They will be there when the project starts, ready to launch the project with you.

Don’t forget that crowdfunding is played out in the first 48 hours, which is why it is important to have a community that is interested. You should not hesitate to grow your social networks, or to address influencers who can help you.

Finally, the last step to a successful crowdfunding campaign is to master social networks and web marketing to capture an audience and convert it. This starts with the entourage, passing through what is called the relay of influence, reaching the general public.

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