10 Tips for Launching A Successful Kickstarter
Help the start-up team to start their crowdfunding project
In 2014, about $529 million was donated to Kickstarter projects. That’s more than $1000 per minute. Kickstarter and other crowdfunding platforms are a great way for innovators to get their projects off the ground. However, launching a winning campaign remains a challenging venture. Here at BackerGeek, we want more innovative ideas to come to life. That’s why we are sharing with you 10 tips for launching a winning Kickstarter project. Enjoy!
1. Set the purpose of your crowdfunding campaign
As cliché as it sounds, you should really begin with the end in mind. Most people launch a Kickstarter to raise the funds needed to bring their project to life. However, maybe you’re just testing to see there is enough demand for your idea? Or if you have an idea that people even actually want? Before anything else, you need to get clear on why you’re doing a crowdfunding campaign. Identifying your main goal has a significant impact on the rest of your decision-making process.
2. Test and refine your idea
It’s pretty common for entrepreneurs to work on something amazing to their eyes, only to be disappointed when it doesn’t receive the level of attention they’re expecting. While believing in your idea is important, too much of it can blind you from its weak spots. Let other people test and review your product. Doing so will allow you to have a product people will want to pay for. Refining your idea doesn’t stop even when you’ve launched your Kickstarter. Your offer can always be improved and there are no better candidates to give you a fresh perspective than your audience. Listen to what your backers saying. After all, they’re the ones who are going to pay for it.
3. Set a realistic funding goal
If you’re going to launch your campaign on Kickstarter, know that the platform has an all-or-nothing funding model. That means you get to keep the proceeds should your campaign meet or exceed your goal. If not, you don’t get anything. And you can’t change your target funding once your campaign goes live. Taking these factors into consideration, it would be wise to set a realistic funding goal rather than a largely inflated one. Decide on the minimum amount required to give life to your project and supply the product to your backers. Also take into account various fulfillment factors such as manufacturing, packaging, and shipping costs. Working to reach your stretch goals can be done after the bare essentials needed to launch your project have been covered. You should also be transparent on where you’re going to use the funds for.
4. Share your story
“We know that people fund people, not just ideas.” – Danae Ringelmann, Indiegogo CEO A great campaign starts with you. More than your idea, people would want to know your story. Who are you? What’s motivating you to bring this project to life? How does this idea impact the world? People are more likely to back your campaign if they feel that they know you at a deeper level. When done right, opening up to your audience makes you stand out from the average crowdfunder demanding their attention. To better engage your potential backers…
5. Don’t rely solely on words
They say a picture is worth a thousand words. Sometimes, images are more effective at conveying information than text. If you can use an image to get your point across, do it. It’s easier for you and your audience.
What about video?
According to Kickstarter, projects with videos are 50% likely to hit their funding goal. However, campaigns without one only have a measly 30% success rate. More than just pitching your idea, share more about you and why you’re so passionate about your product. Also, make sure your video thumbnail is engaging enough to make people click. You want people to actually watch it right?
6. Run a pre-launch campaign
When a new Kickstarter raises a huge portion of their funding goal, generates massive traffic, and has a lot of backers in such a short time after launching, the platform will consider the campaign as trending. The said campaign will likely get featured on Kickstarter’s front page or their Discover and Trending sections, further boosting the traffic and funding it gets. Therefore, the success of your Kickstarter is determined in the few days after you go live. So how do you drive massive pledges and traffic in such a short window of time? You need to have a pre-launch campaign that builds up excitement over your idea weeks or months before your launch date. A great way to build a relationship with potential backers is through constant communication using personalized emails.
7. Have your own audience
Obviously, there is a need to create awareness of your project online, but you should not neglect your offline audiences. Ask family members and friends to support your Kickstarter. Every connection you have counts. Even if they don’t back you up with funding, simply sharing your project to their network increases your crowdfunding campaign’s odds of success.
8. Offer worthwhile rewards
While selecting rewards that fit what you’re selling seems obvious, try structuring different reward levels based on the pledge amount. Backers are much more inclined to support your campaign when they think that they’re receiving something valuable in return, regardless of the amount they give. Structure your reward to include features for sponsors alone. In addition, aim to motivate backers to support your Kickstarter now instead of waiting for your official launch date. If you plan to go into retail in the long run, you also need to consider your Kickstarter prices.
9. Update your backers on your progress
In essence, your backers are investors of your project. It’s only natural that they would want to be updated with the progress of a project they pledged into. If you’re experiencing delays in your timeline, it’s best to be transparent about it. Better for them to hear it from you rather than from someone else. Tasking as it may be, communicating regularly with your backers even during and after your Kickstarter helps maintain trust in your campaign. Another benefit to this is that you can receive feedback on your product and tweak it further based on what your market wants.
10. Follow through on your promises
Your Kickstarter isn’t over once you’ve hit your funding goal. It ends when you’ve fulfilled the promises you made to your supporters. Do this and people will find it much easier to support you should you decide to launch another crowdfunding campaign. There is no secret formula for crushing it on Kickstarter. The tips above contributed to bringing our clients’ projects to life. We hope you find them useful while you plan, strategize, and launch your Kickstarter. Invest in your success – www.backergeek.com – Get in touch with us today.
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