A crowdfunding campaign is nothing more and nothing less than a full-time job. Ideation, preparation, strategy, execution and follow-up are as crucial to crowdfunding as they are to any other project.
It takes anything between 6 and 1 months to set up a made-to-succeed campaign, and it’s much more about planning, calculating, and community building than a kick-ass video and well-orchestrated page on Kickstarter.
In fact, it’s a masterpiece in its own right, with its specific repertoire of rules and know-how.
If you want to meet your target, you’d better have a uber plan that makes your goal attainable.
39% of the 195,569 Kickstarter projects ever launched (data from 18/12/2014) were successfully funded. Indiegogo, Kickstarter’s rival, has a slightly lower statistic.
Comparison of platforms and stats is all over the web, and no doubt: It’s imperative to make an informed choice and investigate each platform you consider thoroughly; but in the end it’s not the platform to blame if you fail.
So, what about the 61% that make it to the finishing line with dissatisfaction? One of their biggest challenges is passing the 20-30% funding threshold. Kickstarter statistics page reads the following: “While 12% of projects finished having never received a single pledge, 79% of projects that raised more than 20% of their goal were successfully funded.”
Another big challenge is, provided you happen to be a hardware startup and once you’ve reached your goal, are you prepared to actually manufacture and ship a thousand products to your backers? Timeless delays in shipment befall the majority of the crowdfunded projects, just like the recent setback of the "Coolest Cooler".
The moral: Choose your battles and weapons wisely. Your product, team, supply chain, and manufacturing need to be mature enough to crowdfund.
Question: what makes the soul of a crowdfunding campaign?
Your backers, of course. Easy, right? Bear that in mind, however, as we talk planning; it’s so easy to give way to your campaign’s content that you might feel tempted to neglect your fans, once in a while.
Crowdfunding advice is abundant all over the world of the wide web. In fact, you’ll need a forklift to dig among the tons of articles, survival guides, and bibles about how to successfully crowdfund your startup.
Luckily, I won’t be bothering you with any of that. I wasn’t sure what’s on your Christmas wish list, so I made you a Crowdfunding campaign checklist instead to keep you from ending up as one of the sad stats mentioned above.
So, this should keep you busy. It’s a long list, hm? Well, no one said a crowdfunding campaign was a piece of pie.As read on the StartupBootCamp blog.