Priceless Pointers for Successful Kickstarter Projects
When you think of Cards Against Humanity, the first thing you probably do is chuckle a little. But, if you think about where it all started, you have to think Kickstarter. While many startups fail, Kickstarter has also given birth to some of the most successful campaigns in the world.Â
The site works by allowing small startup companies to pitch their prototype to the general public. When visitors hit the startupâ€™s page on Kickstarter, they can invest money by â€śbackingâ€ť the project. Backers are rewarded for their generosity, usually with a gift of some kind. Gifts can be anything, but some of the best startups use an actual sample or the finished product at a reduced cost (the â€ścostâ€ť of the contribution).
If you want to get your next project funded on Kickstarter, hereâ€™s what you need to know.
Keep Your Campaign Under 30 Days
Letâ€™s say you have an idea for something like these custom playing cards that you want to get off the ground. You donâ€™t have any money, but you do have a prototype of the card deck you want to sell. Youâ€™d go to Kickstarter and start a campaign. Hey, it worked for Cards Against Humanity.
But, while you can choose up to 60 days for funding, donâ€™t go that long. Why? Because it sets the date way too far out in advance. A longer campaign means people have to wait longer for the finished product, and people hate to wait. Shorter projects set a tone of confidence, show that youâ€™re serious, and that you are on a mission to get things done.
Make A Firm Budget
Make a firm budget for your project and communicate that with potential backers. While it doesnâ€™t have to be super detailed, you should be able to break things down so that thereâ€™s no question how the money will be spent.
Kickstarter is an â€śall or nothingâ€ť model, meaning if you donâ€™t meet your funding goal, you get nothing (all money collected is returned to backers). So, you should budget the minimum amount to get the project off the ground and no more.
Offer Lots Of Small Rewards
Always offer a lot of small rewards for backers. Youâ€™ll get people who are too nervous to commit to a large dollar amount, but you still need those people. A pledge of $25 is the most common and popular, with the average pledge amount is $70. So, keep that in mind and make the perks affordable for you so they donâ€™t run out too fast, risking future potential backers.
Do Outreach Before You Launch
Youâ€™ll need support and a commitment from people before you even launch – your â€ścore backers.â€ť These could be business associates, friends, family, or past customers. It helps newcomers trust you because when you launch with 10 or 20 percent of your goal funded, itâ€™s like having social proof that your concept really could work.
Market your project using direct marketing and other effective methods of marketing. This is essential. If you need to, hire a professional ad agency.
Send Tailored Messages
Always send custom or tailored messages to everyone who emails you. It makes you more legitimate and authentic.
Follow Up With Everyone
Never let an email go unanswered. This is challenging. But, you must answer every single email that gets into your inbox.
Successful Brands That Made It
Pebble is probably one of the most successful and well-known brands that really made it big by using Kickstarter, but other brands like InXile Entertainment raised nearly $3 million for their video game Wasteland 2, Frontier Developments is another game company that raised ÂŁ1.5 million for their game. Palmer Luckey, MS Paint Adventures, Formlabs, and Double Find and 2 Player Production.
All of these companies killed it on Kickstarter. Will you?
Steve Griffin is a manager and personal assistant. He loves sharing his insights on the web. His articles are available mostly on money and lifestyle sites.