In the six years since Kickstarter’s launch, nearly 10 million people have pledged upwards of one billion dollars to fund tens of thousands of projects.
How to develop a kickstarter campaign
The crowdsourcing site can be a truly great way to fund product development, but Kickstarter isn’t just about getting free money from random people on the Internet. A successful Kickstarter campaign requires hard work and a well-crafted strategy before you click the “launch” button. How can you craft the perfect Kickstarter campaign and take your product from an idea to a tangible object on store shelves? Take a look at these four ultra-useful tips.
1. Set a goal that makes sense
You may want $100,000 to launch your product, but that doesn’t necessarily mean you’ll get it. First, you must set a reasonable goal that makes sense. Whatever you do, don’t just post a random dollar amount. Make sure you display a clear and coherent budget on your Kickstarter campaign. You may need to do some research to figure out what your factory order minimum is, how much the materials to make your product will cost, and how much you are going to paying employees, etc.
2. Get the timing right
The time you launch your Kickstarter project can actually have a big impact on whether or not your project is successful. The Coolest Cooler campaign, which is the most successful campaign in Kickstarter history to date, was only successful the second time around. The campaign originally launched in the month of November, but failed to meet its goal. Several months later in July, the campaign was launched a second time and proved to be much more successful, since consumers were much more interested in purchasing a cooler during the heat of the summer.
3. Personalize your campaign
Make an effort to connect with donors instead of sending out mass messages. If you want people to invest their money into you and your business, invest your time into forging strong relationships with your prospects, which involves sending personalized emails. If you don’t have time to write each and every contact a detailed message, at least take time to segment your supporters into demographics for more personalized targeting.
4. Use Kickstarter as your last step
Many entrepreneurs use Kickstarter as a first step for product development; however, Kickstarter should be your very last step. Don’t launch your campaign until you have a clear business plan, a small base of customers, and product you know is going to work. Don’t ask people for money unless you absolutely know that your product is going to succeed.
Pivot International is a product design, development, and manufacturing firm with strengths in software development, electrical engineering, mechanical engineering, and industrial design. If you are interested in engineering a new product or updating an existing product, contact us at 1-877-206-5001 or request your free consultation today.