Kickstarter.com has grown immensely over the past 5 years.
Inventors, creatives, musicians, producers, or anyone with an idea can launch a product using crowdfunding. There’s a never ending idea-stream that has come from crowdfunding. Whether it’s a fashion product or a game called Exploding Kittens, anything, and I mean, anything, can be crowdfunded.
Should I Use Kickstarter?
Getting a product off the ground has never been easier. Crowdfunding has changed the landscape to make it so anyone can launch a product. You don’t have to have millions of dollars, investors, or borrow money from the in-laws (that means countless dinners and holidays that you don’t want to be at).
You should use Kickstarter if you want to get your product in front of millions of people, but there are a few things to consider before signing up for Kickstarter and just throwing a product up hoping that people will back it. 64% of all Kickstarters do not attain their goal. Before you start a campaign, make sure that you either have a prototype, or a final product. Coming in with just an idea or concept will not be allowed by Kickstarter’s rules.
Executing A Kickstarter Campaign
Ever wonder how to execute a killer Kickstarter campaign? Follow the steps below to run a winning campaign:
- Set realistic goals. Studies have shown that if you set a smaller “Fully Funded” goal, and it’s achieved in the first 24-48 hours, it will show backers that your project is worth funding.
- Make sure that once you get your project funded that you can deliver within a few months. Failing to do so will turn off backers.
- Create an amazing video that is simple and shows the problem you’re trying to solve. Keep the video under 3 minutes, as most backers don’t have time to watch a long video. If you can’t convey the problem you’re solving in a video, then maybe launching this product isn’t a great idea.
- Make the campaign length 30 days. Any longer and it won’t do you any good as campaigns lose traction after the first 30 days. Make sure to hit your goal in 7 days.
- When creating the video or writing a description about what the Kickstarter is about, talk to your backers as if they don’t understand what the technology is. Use the Michael Scott method and explain it to them like they’re 5.
- Remember to deliver exactly what you promised to backers. If you don’t, your reviews will suffer and the company will tank.
Why Kickstarter Will Validate Your Idea
Not only will Kickstarter get you feedback on your product, but it will help validate your idea. too. Having a project funded shows that people genuinely want your product, and it shows that there’s a market for your product. If the product is a success, make sure to reach out to local publications to drum up some positive press, especially if you fund your project in less than 72 hours.
If it doesn’t get funded, rethink your strategy. Either take the campaign down and restart or come up with a new way to gain interest.
To help make your campaign a huge success, follow the above steps. If you have any other tips or tricks that aren’t mentioned here, put them in the comments for others to see.