How to Run a Kick Butt Kickstarter Campaign

2$ How to Run a Kick-Butt KICKSTARTER Campaign 24 24 %24 %24 Kickstarter launched in 2009. People (backers) can pledge a minimum of $1 to fund a project. KICKSTARTER Stats and Facts $1 It's a U.S.-based funding platform for creative projects. So far, there have been more than 74,000 successfully funded projects. More than $1.4 billion has been pledged to Kickstarter projects. к $1,400,000,000 Backers Total backers = 7,527,324 Repeat backers = 2,255,804 Total pledges = 19,119,029 People who backed 50 or more projects in the third quarter of 2014 = 335 SWEET SUCCESS Most successfully funded projects raise less than $10,000, but some projects have reached 6 and 7 figures. 40% of Kickstarter 40% projects are successful. I# of Launched Projects I Total Million Dollars Pledged 8,542 <$1,000 45,576 | $1,000 - $9,999 10,409 $10,000 - $19,000 8,706 $20,000 - $99,999 1,603 $100,000 - $999,999 82 $1,000,000 $0 While 12% of projects finished having never received a single pledge break, 79% of projects that raised more than 20% of their goal were successfully funded. Kickstarter Projects and Funding I# of Launched Projects I Total Million Dollars Pledged 11.130 2010 $27.64 27.086 2011 $99.34 33.551 2012 $ 366 Successfully Funded Kickstarter Projects 1 81% to 99% funded I $20,000 to $99,000 raised I $1,000 to $9,999 raised I $100,000 to $999,000 raised I $10,000 to $19,999 raised less than $1,000 raised Film & Video Music Publishing Art Games Design Photography Fashion Food Theater Technology Comics Dance 62,642 people pledged $13.3 million to the Coolest Cooler, making it the most-funded Kickstarter project ever. This "portable party" was equipped with a blender, waterproof speaker, and USB charger, disguised as a cooler. Colest CROWDFUNDING 101: TIPS TO RUN A SUCCESSFUL CAMPAIGN Start early - Start working on a campaign 6 months before the launch date. Solve a problem Get to know the competition - Make sure your product is something people really want or need. - Test and refine your product long before launching. - Research similar projects. Kickstarter does not remove campaigns once they've ended, so similar ideas can help predict success rates. - Create a one to two sentence explanation of how your product will solve a problem. - Check out sites like Kickspy to see if others in your niche have had success. Fund before going live - Reach out to thought leaders and other potential supporters to acquire some capital before the Kickstarter page goes live. Create a solid plan Follow the rules - Stick to an editorial calendar with day-to-day social media strategies, and update posts. - Read Kickstarter's guidelines carefully, then reread them again before submitting a project for review. - Connect with friends, family, co-workers, or anyone else you think may spread the word. - Make a budget and include it on the campaign page. Projects must: O Create something to share with others. - Berkeley research shows crowdfunding campaigns that successfully raised $100,000 spent at least 200 hours preparing for a project and an average of 136 hours managing it before earning any funding. %24 2 Be honest and clearly presented. O Not fundraise for charity, offer financial incentives, or involve prohibited items. Aim low " Set the funding goal as low as possible. Kickstarter is an all or nothing platform. If the goal is to raise $10,000 and you only raise $9,000, you don't get the money. 30 days обу:" II 3:00 Keep your campaign short Make a great video - Shoot for 30 days or less. - Focus on the product, add in your background, then include a call to action. - Projects lasting less than 30 days or fewer see the highest success rates. - Keep it under 3 minutes. Pitch the press - Pitch blogs and make sure to follow their contact rules. Make time for design Use social media - Convince potential backers that your project is trustworthy and reliable with a well-designed site, logos, and photos. - But don't rely on it. Build a fan base by driving people to social media channels from the project page where you can post exclusive updates. Follow up on feedback Respond to comments and suggestions by tweaking product designs, pricing, and/or marketing strategies. TY! Award donors Campaign offline, too - Compensate donors for their generous donation. Offer reduced prices. Include real-world components such as community events and launch parties. UPDATE3 - Send customized, personal thank you emails. Update backers - Send out updates to give a behind-the-scenes look at any growth and progress. Crowdfunding isn't a piece of cake, but following a few simple tips can help launch a killer Kickstarter project, rack up the pledges, and get your product off the ground. crowdcrux.com forbes.com kickspy.com entrepreneur.com kickstarter.com mastersofmedia.hum.uva.nl brought to you by: in partnership with: SURE PAYROLL A Paychex® Company GHERGICH&Co.