Download - Crowdfunding with Kickstarter
Created By Julie Coniglio
@awkward_hug
9/28/2011
Crowdfunding with .
noun /kikˈstärtər/
1. An online threshold pledge system for funding creative projects.
2. A path to funding your creative project.
3. An pre-sale platform for your widget.
4. A soapbox for DIY creators and Indie artists.
+noun /ˈôkwərd həg/
1. An uncomfortable embrace
2. A kick-ass game studio (Julie is the most female co-founder of AH)
Socks, Inc. was among the first game projects to be funded on Kickstarter.
In the summer of 2010, with no access to brands or traditional funding, we went to Kickstarter to make a whacky online sock puppet game.
Source: http://www.kickstarter.com/blog/10000-successful-projects
Stats (as of 7/17/2011)
Launched Projects: 26,620
Successful Projects: 10,388
Unsuccessful Projects: 13,113
Live Projects: 3,119
Success Rate: 44%
Since then, Kickstarter has become super popular and is full of success stories.
These are the things I’ve learned from running the Socks, Inc. campaign and watching Kickstarter grow.
This is not a Kickstarter bible, it simply illustrates my experience.
• family, friends + co-workers
•your community / contacts
You only have one Mom.Who else will contribute?
• Peeps who need or want the product or service
• Peeps who admire the project’s goal / are aligned with its ideals} ‣ their communities
Our Gaming Community, Friends, + FamilyOthers
Contributors to Socks, Inc.
GET MONEY
The best thing people can do for
your campaign, after contributing,
is evangelize.
GET MONEY
It is all about community.
GET MONEY
Have an outreach strategy.
Find creative ways to
break through the
digital noise.
Reach out both digitally
+ in the real-world
Be personal
Making promotional swag
for you campaign
}
GET MONEY
Have an outreach strategy.
Reach out both digitally
+ in the real-world
Be personal
Making promotional swag
for you campaign
DIGITAL
• Blog outreach
• Email campaign
• Social Media
REAL-WORLD
• Industry Meetups
• Call publications
• Flyers + Post Cards
Find communities of people who share your interests.
GET MONEY
Have an outreach strategy.
Reach out both digitally
+ in the real-world
Be personal
Making promotional swag
for you campaign
Tap your industry leaders
We DMed thought leaders in overlapping industries and personally asked them to
share our campaign.
GET MONEY
Have an outreach strategy.
Reach out both digitally
+ in the real-world
Be personal
Consider making
promotional swag
Postcards and patches were mailed to people who had played our previous games.
Create interesting artifacts that are unique to
your project... or make some post cards to leave
in public places.
GIVE REWARDS
Design a reward system. Make sure each reward cost less than 5% of the pledge, including delivery.
GIVE REWARDS
Design a reward system. Make sure each reward cost less than 5% of the pledge, including delivery.
Felt / Wood /Bird / Sock
Googly Eyes /Hot Glue
Stuffing / Wire
} $23.75TOTAL COSTS
This reward cost 4.75% of the pledge to make. Add the average packaging and delivery costs, and the reward went slightly over the 5% rule.
The sweet spot for your project is the contribution level that earns the most money.
GIVE REWARDS
Decided Sweet Spot.
Push to the sweet spot.
Aw
eso
me
ne
ss o
f G
ift
Past the sweet spot, rewards
acknowledge the contributor’s
awesomeness in some way.
The Socks, Inc. Reward Strategy(aka. the proverbial carrot dangle)
$5 $15 $25 $50 $100 $200 $500 $1,000
Wilson may have expected to sell around 300 of his watches, but ended up with over 3,500 pre-orders. Good thing he is a seasoned and serial entrepreneur with the tools to deliver.
GIVE REWARDS
Be prepared for an unexpected volume of pledges.
The Sweet Spot for merchandise is effortlessly the pledge level at which you can manufacture
and deliver the product to the contributor.
Contact all the vendors and collaborators to get estimates and quotes. Rack your brain for any hidden costs that are not immediately obvious.
Base Cost
+ 5% for Rewards
+ 5% for Kickstarter
+ 5% for Amazon
= Campaign Goal
CAMPAIGN GOAL
You don’t get any money if your goal isn’t reached. A great campaign can always go over.
Ab’s thinkin’ cap
CAMPAIGN GOAL
Most successful Kickstarter campaigns ask for less than $5G. Need more? Consider your options.
Think about your goal
objectively, will it seem
reasonable to your audience?
Be Bold
Re-evaluate
Re-structure}
CAMPAIGN GOAL
Most successful Kickstarter campaigns ask for less than $5G. Need more? Consider your options.
Ask for it.As Kickstarter becomes more popular, campaigns are setting higher goals
and are getting the contributions. Your campaign is good enough,
smart enough, and doggone it, people like it.
Be Bold
Re-evaluate
Re-structure
CAMPAIGN GOAL
Most successful Kickstarter campaigns ask for less than $5G. Need more? Consider your options.
Determine your MVP.Simplify your project down to the Minimum Viable Product. Eliminate all
of the fluff and dedicate your time and other people’s money to just the
juiciest bits.
Be Bold
Re-evaluate
Re-structure
CAMPAIGN GOAL
Most successful Kickstarter campaigns ask for less than $5G. Need more? Consider your options.
Break it down.Re-structure your project into phases. If phase one is complete before even
going to Kickstarter, you can establish credibility. Run a small campaign for
the MVP, and, afterwards, a second campaign for the re-iterations.
Be Bold
Re-evaluate
Re-structure
Your video should...
SHOWTIME
If you can’t be bothered making a video, don’t bother starting a campaign.
• be honest, sincere, and charming
• get straight to the point
• establish your credibility
• be under 5 minutes
At the end of the day, people are giving you money; you need to establish trust and emotional connection.
RESEARCH
Kickstart your pitch process with a healthy dose of preparation.
Read the Kickstarter blog, it is full of tips and good analyses of successful campaigns.
Ask for help! Contact people who have done it
before and pick their brain. Get your friends to
pitch in too. DIY is exciting and people may be
more excited to pitch in than you think.
Learn from other people’s successes
and failures. Study the reward
design, outreach strategy, and the
video pitches of projects like yours.
BYE BYE
Ok peeps, go make something awesome!
Want to know more about Julie?
Check out awkwardhug.com and
follow her @awkward_hug.