Kickstarter projects7/25/2023 Create a website to collect emails Launch a web platform to collect email addresses of those interested in your project. It can prove to be extremely useful to tell everyone about your project before starting to raise funds. Organize your promo-campaign before you launch it on Kickstarter (optional) Many large-scale projects launch their campaigns even before they start raising funds on Kickstarter. If you set a low price, you won’t be able to tell whether or not people are ready to pay good money for it. Also, the $50 increase didn’t seem to price out many customers. Those who bought Petcube at this price were the most loyal customers who subscribed to the newsletter even before the Kickstarter campaign was launched. At some point, they understood that they shouldn’t have set the initial price at $99. Petcube sold their product at $99 for their first customers. Kickstarter lets you give discounts for first buyers. On the one hand, there are your prime costs and margin, and on the other, there are buyers’ price expectations. Estimate prices as thoroughly as possible. Estimate fees and prices Consider how much your product will cost and how much compensation backers will receive. Petcube set their bare minimum goal at $100,000, but their idea was overfunded and wound up raising $251,225. Ample funding means the project must be brilliant and will definitely pan out. The more money your project raises, the more backers want to buy it. One of Kickstarter’s rules: it is always better to exceed your goal. On the other hand, if you set the bar too high, you risk coming away with nothing. It may seem as though you don’t appreciate the value of your idea. Moreover, a small amount can make you look petty. Don’t articulate an amount less than necessary you will have to follow through on the promises you gave. Evaluate the amount you need Raise funds until you've got enough to implement the project. Find the best compromise take seasonality and holidays into account. On the other hand, a 30-day campaign may be insufficient. It is said that 60 days is too long and it spreads resources too thin. Determine the duration of the campaign A campaign on Kickstarter can last anywhere from 30 to 60 days. They needed that much time to understand how they should mass produce the device for it to suit international standards. The Petcube team had expected to launch the project in 3-4 months, but it wound up taking them 14 months. Think over all the details because it often happens that an idea that has raised the necessary funds faces issues thereafter, when it’s time to implement the project. Plan your project Arrange a detailed schedule which includes everything from developing the idea to sending the product to backers. Take for example those fancy headphones with ears that raised $2,930,631. Lots of successful projects based on these resources have been implemented. If your project doesn't meet Kickstarter demands, it would be useful to look at some less popular but less limiting crowdfunding services, such as Indiegogo or Selfstarter. Moreover, make sure your idea meets Kickstarter's project requirements. The Petcube team decided to launch its project on Kickstarter right away because they had a gadget related to pets which was incredibly appealing to the media. Look at Kickstarter success stories and assess your idea: will the Kickstarter audience like it? Will it draw enough attention to be distinguished among other projects? Physical objects, devices and games are the most popular. It enables you to draw more attention and funds for your project than any other tool. Make sure you really need Kickstarter Kickstarter is, of course, the most widely known platform for crowdfunding. Petcube raised $250k on Kickstarter and is a Y Combinator alumni.Īs usual, a detailed step by step project plan comes with each story. This story is based on Yaroslav Azhhnyuk's (CEO of Petcube) experience on Kickstarter. Get a pre-made project plan based on this how-to guide on In this how-to we will tell you all the secrets to run a successful Kickstarter campaign.
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