How do some businesses find gold on Kickstarter with the crowdfunding efforts and others find zero success? What is it that these successful businesses are doing differently that leads them to success time and time again? There are 6 secrets that your business can take advantage of today to help bring about a greater chance of Kickstarter success. Here’s what you need to plan on doing.
1. Solve Problems For People
If your idea isn’t going to be able to solve a problem for someone, then it isn’t going to have any true value. Your job will be not only to innovate an idea that solves problems, but then effectively communicate to your potential backers how what you have is the best way to solve that particular problem. Bottom line: no problem solving aspects, then no value – which means no money.
2. Get Your Homework Done
Sometimes Kickstarter isn’t the right platform for crowdfunding. Sometime crowdfunding isn’t the right way to raise money. You’ve got to do your homework with the backers in your industry to see what it is that they are interested in. If you don’t have this information, then you can’t engage people on a core level and create affinity for what you have.
3. Bring the Money
Crowdfunding is seen as an essential source of cash, but it shouldn’t be your ONLY source for cash. The best crowdfunding campaigns today do dual marketing. They’ll work on creating backers, but they’ll also work on finding backers that can create a lot of buzz for a campaign with a high value investment. In reality, these high value backers should be located before your crowdfunding campaign so you can generate more excitement.
4. Set Realistic Funding Goals
You might need $400,000 to get your next project off the ground, but there’s a good chance you won’t raise that amount. It’s better to set expectations low and then shoot for stretch goals than it is to set your expectations too high. Keep in mind that people love to get involved with campaigns that are already successful. If you’ve reached 400% of your goal, you’re more likely to get viral recognition and investment than if you get 4% of your goal.
5. Have a Solid Pitch
People support ideas because they can relate to them. Tell your story about how the idea came about and you’ll further develop affinity with your backers for this idea. Here’s the best part: it costs virtually nothing to create great content.
6. Make It Your Top Priority
If Kickstarter isn’t your top priority when you’ve got a crowdfunding campaign going on, then why should your backers make it a priority? Make sure your team is 100% focused and you’ll be ready to get 100% results. If that means you answer 5,000 emails and phone calls a week, then do it.
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