The beginning of a successful Kickstarter campaign

Crowdfunding platform Kickstarter has helped many entrepreneurs and start-ups to raise funds and has turned into a reliable financing option.Kickstarter has raised $2.1 billion for 270,000 projects since 2009. Investors fund in the projects of their choice and they are charged only if the project reaches its target amount.Every project will pitch in with target amount.When the project is successful; the investors either get their money back as in the case ofdebt or a share in the company. The number of successful projects are 77,000 and 128,000 have been unsuccessful.Certain projects are highly successful like pebble watch and others are blistering failures like smarty ring.What makes a project successful depends on how it is pitched and how many people are apepaled by the idea. In Kickstarter a total of 36.6% start-ups get funded completely. The success of a project depends upon the category it belongs to, dance and indie rock music are the two categories which have a high percentage of projects that get fully funded.Pitching the idea in a relevant category and optimizing the sub categories for increased attention of investors is essential.

Social media campaign has a significant effect on crowdfunding campaigns.Those campaigns which connect and express themselves well on Facebook, twitter etc have better chances of reaching their goal. However the least successful projects have been those of tech start-ups like mobile applications and websites.This is because of the high level of competition in this category and availability of a huge number of apps and websites at present.
The country with high share of successful projects (39%) and high amounts of investment is US ($1.2 billion) followed by UK.

A successful Kickstarter campaign is building a loyal customer base

There are a lot of projects and ideas that are being pitched on kickstarter platform. However a successful project is more than just an idea, it depends on the way it is marketed and ability to connect with investors. Peak design is one such company which has been able to connect with its investors in an effective manner and turn them into potential customers. The company launched its idea in the year 2011 with the clip showing a camera attached to belt or strap. This project at that time was the second biggest campaign on kickstarter.The project had an innovative idea, good connection with its investors and kept them hooked up throughout the project. They managed to keep the investors curious by introducing new ideas into their project midway through the campaign.

Nonetheless their marketing strategy was professional. The production cost of the video was about $10,000 at that time. All this had let them build a loyal customer base. The conversion rate for their product on kickstarter is higher than their own website. The company also believes that the come-back rate of customers is higher on kickstarter than their website shoppers. The customers on Kickstarter are loyal, willing to come back and they are very interested in the idea and the product even during the stage it is developed. These sorts of projects give us an insight into how a campaign for investors can be converted into a customer base in the long run.

How to Kickstart a successful Equity crowdfunding campaign

Equity crowdfunding is when the investor’s money is valued as a share in your company.It is never simple to get people give their money when you are not even a successful establishments.There are certain primary things which can help you through to kickstart your dream project.

Plan how you would like to reach out to investors, what platforms you believe would be ideal.The platforms maybe social media websites or through emails.Keep it organized and professional.Have a team and allocate resources for reaching out.

Your message should get through to the people.Keep it simple and clear.Show them what makes you believe in your project.Do not make the messages you broadcast for in need of money but an effort to make your idea reality.Let ambitions and idea speak.

Use good content, beginning from the words you frame to describe your project to the photos you add on your website should be of good quality and professional.
Interact with your investors through chat communities, question answer type interaction and social media platforms.Clarify them of their doubts and take feedback of your project.This in itself an assurance that you mean serious business

Utilize all forms of media Television, radio, print don’t confine to digital media.
The First few weeks of the campaign is the most important imperiod, first impression is the best.Organize an event interact and impress.Kickstart with a bang!

Get a famous personality close to your project field fund your project and use this as a form of campaign.Their words may make more people to get to fund your project.

These are some of the primary things you can try but never shut your imaginations you may come with even better ideas.

How to Run a Kickstarter Campaign

Starting a kickstarter campaign is not so hard but making it successful is really very hard. So, here are some steps to achieve that:

Develop supporters:

Supporters are the key to success, so it is line up your supporters before launching your campaign. This step will help you reach the goal and stand out among the other projects in your category.

Build your email list:

Email is considered to be a top source of click and purchase, so try to create the email lists. You can able to track the links in your email that gets the majority clicks and wordings that backers respond.

Connect with friends:

It is very important to connect with friends as you can reach the destination through them. Sometimes they will not respond for your crowdfunding messages, as they will be confused or even think that you are sending the same message to all.

Prepare everything before the launch:

You should be well prepared with the videos, campaign texts and graphics, idea about your ads and stretch goals, funding goals, social media messages, updates and many more.

Choose the right funding blog:

There are a number of sources to reach the backers outside the kickstarter marketplace but the real success comes from few sources like PR, Reedit and getting the right blog.

 

Look at similar projects:

Research about other’s project in your category, so that you will get some ideas about the graphics they used to make the page popup, how they stand out with their descriptions and thumbnails, what you think after watching their videos and so on.

Thank the backers:

For the success of your project, maintain a good relation with your projects by using words which bring a smile on their face.

Find perfect partnership:

Try to find the existing audiences online when you try to find them outside kickstarter marketplace.

Backers can drop their promises:

Backers who promised you may drop their promises due to some reason but you should be prepared for that before your launch.

Be aware of the trademarks:

It is evident that some will copy will try to copy your product and you may find out that you violated other’s product.

Set a moderate goal:

Setting a low or high goal will lead you to disaster and confusions, so set a moderate goal which leads you to success.

Add more visuals in your campaign text:

Instead of the words, add more images and videos to grab backer’s attention.

‘Just Launched’ section helps:

Some projects will be noted soon and get good responses from backers, as they will be in the recently launched session.

 

Conversation matters:

Some spend lot of money to create traffic for their project but what really matters is conversations.

Wait for response:

Some backers will take time to respond, so it’s the creator’s duty to wait for sometime till they respond.

What is your call to action?

Creators post their videos in face book and Twitter, where they get many likes and shares but they don’t know what to do as the link is not directed to the kickstarter page.

Know about the costs:

Before launching your product, it is safer to have estimation about the shipping and production costs.

How to Fix Your Crowdfunding Project’s Funding Goal

One of the requirements for the success of your crowdfunding campaign is to have estimation about the it’s funding goals.

Having too low funding goal or high funding goal may cause a negative impact about your project, so it is always better to have a moderate funding goal. Some projects even fail, as the funding goal of the project is not enough to cover the  cost of complete requirements of the project. In some cases, inspite of its exceeding funding goal a project may not reach its destination. These kinds of incidents happen as the project owners don’t have a clear view about the cost of creating and shipping a crowdfunding perks to their backers on FundStarter https://www.zoplay.com/web/fund-starter/

Many project owners finish up the project as they require more money to reach their destination.

You should have an idea about the project execution cost and the cost of creating reward. Shipping cost of rewards, cost for supplying items like bubble wrap, padded envelop, tape and such items are to be considered along with the shipping charges for international backers.

Some cost includes advertising of your campaign, crowdfunding platform fee and the cost included in appointing a consultant to manage your crowdfunding campaign.

A high funding goal for your project may get bad result as it tempt you to make up your goal with different funding phases, which in turn forces you to run two different campaigns at the same time.

It is always good to have a manageable funding goal and having a stretch goal if you need a high amount of funds.

Tips to communicate with the backers

People who have their kickstarting campaign can communicate with their backers for getting a clear view about them from backer’s side. Communication acts as a great tool for business, so here are some simple steps on how to start communication with backers:

Be straight forward:

Always try to be transparent with your backers and give them clear description about the risks and benefits involved in your project. Never hide anything from your backers, which may help you earn their trust.

Set some time for communication:

If the creator of the project doesn’t answer for the backer’s question then there is a chance for them to raise many questions against the creator. The backers may even think the project as a scam, if they are not getting any proper response from the creator.

In some cases, the backers may even ask for a refund the project as they have does not have enough confidence if they will get their rewards.

Know the mind of backers:

Before starting the project ask get a clear view about what the backers think about the project, so that they will not be surprised or ask for a refund after the completion of the project.

Convey information and emotions:

Always be prepared about what emotion you are going to convey with your backers about particular update, emails and comment.

When you got the opportunity, convey the backers about your emotions and information regarding your brand.

Don’t argue with backers:

Arguments online will never lead you to victors; instead it spoils your name as other backers who will read what you have written.

Maintain good relationship:

Maintaining a good relationship is very necessary and we can do it by cracking some jokes, telling a short story and sharing your personals. You can use various social networks share your story with the backers.

Tips for a successful crowdfunding campaign

A successful crowdfunding campaign is very rare but not difficult to attain. You have to get the right things started way before the campaign’s launch. It includes the promotion of your campaign, it might be the most overrated stunt of this century but it is definitely not the least one either. In order to have a successful campaign, you will have to let people know about it. Don’t you worry about it, it isn’t a big task!

There are many options like social media, blogs, public forums, and events to promote your campaign. It will fetch you the so called “hype” needed for the campaign. You can have followers for your Facebook page, twitter account and blogs to spread the word to others.

Communities could be of great help to your campaign, form a community for likeminded people and send friendly notes, invites to them. Take time to listen to their valuable feedback’s and constructive criticisms as well. Facebook is a great start to form your community and post pictures, videos to keep the followers updated.  You cannot be a hater of social media sites because they play an essential role on your campaigns. Always try to arrange a small meeting for the community members to keep them posted with your current works and it would also bring closeness among the members.

Partnership is the key point to achieve success and do not hesitate to ask advice from the companies that have had successful crowdfunding campaigns. Always make sure your crowdfunding landing page on kickstarter is impressive enough to grab attention from the backers. Graphic banners, HD images, innovative texts and creative videos would be the necessities that would make or break your campaign. The Kickstarter videos must be short and creative to make the backers go crazy about your campaign!

Crowdfunding success means more than just money

Crowdfunding success reaps you more than just money; it can give you other benefits as well. When you have raised enough funds for the campaign, other opportunities would knock at your door as well. But sadly, several people do not realize the better half of the sweet victory in crowdfunding. There are some important benefits of crowdfunding success,

 It funds a project.

 It produces a lot of hot deals.

 It produces a much needed publicity.

 It attracts clients.

 It creates tremendous good will in you.

 It grabs an opportunity for joint venture deals.

 It creates awareness for brands and expert position.

 It gathers testimonials and recommendations.

 It produces enormous backend sales.

 It gathers precise market data.

The audience pays you for all the factors mentioned above, so never ever underestimate a crowdfunding’s success. It does not really matter if you fail to make money, because you might have scored points in other departments. You get to know a lot of things through a victory and a loss. Every penny you reap off a successful campaign values to one valuable vote. Never lose hope when you have a failed campaign, instead make use of the other benefits that you have gained from it. You can then have a fresh start with all the so called “feedbacks” from your previous campaign. Always try understanding the crowdfunding’s benefits and inspire others to have a better future in this industry.

Plan it up before the project launch on Kickstarter

Not all the crowdfunding projects on Kickstarter make it big and achieve success. More than half of the projects would fail terribly during their campaigns. But it is not the end of the world when you lose your campaigns, there is always another chance. The reason for many failed projects is not enough pre-planning for it. According to a famous crowdfunding consultancy, the successful campaigns have all planned way ahead of the project launch. A well planned project would be a hit in just seven days after the launch.

Do a lot of research on your project before launching it. Try contacting journalists and other important influencers to receive the much needed publicity to your campaign. Make sure to use the marketing strategies to get all the attention from the crowdfunders. Prepare a list of dos and don’ts of your project before having a dream launch to your project. Never hesitate to get help from your friends and family during the first hectic week to back your campaign. It could bring about some huge differences to your project. Reach out to bloggers to blog about your campaign before you launch the project because the blogs can help you fetch backers. Always act as if you have only few days to reach your dream goal. A sense of urgency in completing the task is very important. A strong and stable start to your campaign is very essential to stand out from the rest.No crowdfunder would like to contribute to a weak and lost campaign. Most importantly, never ever give up! If you are clueless regarding the project campaign, never hesitate to contact the CrowfundBuzz for help.

Ecommerce vs. Crowd funding

Crowd funding is similar to Ecommerce where indiegogo and kickstarter campaign is raising dollars to produce new tech and fashion projects.

The motivation of backers vs. a customer:

Some backers using crowd funding for emotional reasons. There are two main reasons why someone pledge money to your campaign:

They like you:

If people like you they will support you and include members of your social network. Through internet we can able to contact with a person by means of text and videos. Even if we have not met a person in our life we feel for them and we came to know about that person by means of YouTube and various other websites. We are getting closer to a person’s through various emails, blog posts and videos. In marketing term it is referred as ‘developing relationship at scale ‘which is very important for crowd funding campaign.

They like your product:

This is one of the reasons why backers support crowd funding. If the backers love the project, they decide to support the project in its creation. Backers are ready to spend money for the product if they really love them. The main distinction here between the ecommerce and crowd funding is that the product is not yet made.

How does this differ from e-commerce?

The only difference between ecommerce and crowd funding is that, ecommerce customers are searching for a specific item but crowd funding backers are discovering cool new projects. Both have a different form of marketing.

Why this difference is important?

This difference shows the different forms of marketing.crowdfunding backers are discovering projects so you need to be on the platform contacting various websites and interacting in the communities. If your goal is to build an e-commerce store then you need to target the key terms that customers might use to find out your websites on platforms like Amazon and Google.

Where should you go from here?

It is you’re completely your decision!!If you think crowd funding is the best you can subscribe to this blog, otherwise have a look at shopify where you can build your own online store. If you think you are familiar with wordpress, you can start your online store by using Woocommerce.