Nothing has influenced the start-up scene and possibilities for sufficient funding and successful launches quite like the concept of crowdfunding and websites such as Kickstarter or Indiegogo.
Both of these sites have proven their concept creating stories of huge success like Star Citizen or Flow Hive. There are also a myriad of little promising projects that do not reach their goal and struggled to stay afloat.
To prevent this from happening to your start-up, there are a few things to consider before pushing out your project to a crowd starting website:
Know your Audience
The Internet today has made it possible to reach huge audiences worldwide directly, but that doesn’t mean you will be able to find them all in one place. Have a look at your product and ask yourself “who it is for?”. Once you know that, research which crowdfunding platform you are more likely to find them on.
Tech projects seem to do well on both Indiegogo and Kickstarter, but for fashion projects, there are specialised crowd funding websites that make it much easier for you to reach your audience directly. Make a choice that works best for you, and stick with it to the end.
Ace your product
Make sure your product is the best it could possibly be and will turn out exactly like you intended it. Backers on crowdfunding websites will always value quality over quantity and are willing to invest in products they truly believe in and can see a hopeful future for. Don’t rush your product – launch when you’re ready.
Have awesome content
“Content is King,” Bill Gates claimed in 1996, and it still rings true today. If someone is head over heels for your product, chances are they want to know everything about it! From the first steps you took founding your start-up, the idea behind your brand name, the concept your created and what you’ve achieved so far to what your vision is for the future. Make sure your crowd funding page is engaging, so don’t shy away from colourful content like pictures and videos, and regular updates that take your backers with you every step of the way.
Have the press ready to go
The most important and hardest question about your crowdfunding campaign is who will back your project if no one knows about it?. Simply launching a campaign is not considered news anymore, and putting an interesting spin on it requires resourcefulness and lots of time spent brain storming.
Nevertheless, you’ve got nothing to lose pushing out press releases frequently over the course of your campaign, so make sure you have a list of journalists ready and maybe a few exciting collaborations that will help you gather interest for your idea.
Last but not least, remember that Kickstarter is meant to be exactly that: A kickstart. Something that helps you gather support and get your first customers to make the launch a little easier, but not the be all end all of your route to success.