keys to hacking crowdfunding
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© Copyright Indiegogo. All rights reserved...
Keys to Hacking Your Crowdfunding Campaign Kate Drane Senior Director of Midwestern Outreach [email protected] | @katedrane
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What is crowdfunding?
The collective effort of individuals who network and pool their money, usually via the internet, to support efforts initiated by other people or organizations.
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Who is Indiegogo?
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Why Crowdfund?
• Validate market
• Capture data
• Interact with customers
• Identify influencers
• Raise money
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Global • 200K+ campaigns from
224 countries/territories
• 5 currencies
• 4 languages
• People: DE, UK, CA, AU
• Offices: NY, SF, LA
Open • Entrepreneurial,
creative and cause campaigns
• No application/approval
• Merit-based
Customer Focused • Customer Happiness 24-
hour response time
• Numerous educational materials
• Flexible & Fixed funding
Why Indiegogo?
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Why crowdfund hardware with Indiegogo? • Open to all categories – not afraid of security, health tech, baby or
even adult; and the rules don’t change!
• Test market early (or late) – CAD designs not required so less competitive information shared; post-production campaigns welcome
• Capture loads of data – our dashboard shows you where your activity comes from so you can tailor accordingly
• Interact with customers – contributions, not pledges means you know who is contributing (referrals); and money can be in the bank today (PayPal)
• Have flexibility – Come from nearly anywhere in the world, flexible funding option, add/hide perks, offer multiple units, etc.
• Raise more money – we give you the tools to be successful, and then we use our resources to amplify your campaign
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Keys to running a successful campaign: • Pitch • Perks • Promotion
Let’s do this!
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Pitch
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“Green Bar Effect” People want to give to successful projects. …“Who eats in empty restaurants?”
Goal: Higher Goal Doesn’t Mean More Money!
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And they keep on giving!
• 87% of campaigns that hit their goal exceed it – by 30%+
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• Answer the who, what, when, where, why, and how
• Keep it under 3 minutes
• Include a strong call to action
• Show use use cases
• Show off your team
Honesty, Transparency, Authenticity….Brevity!!
Pitch Video: Quickey
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Pitch Text: Luuv
• Plan your real estate • Show your project/product • Tell more, sell more • Use infographics • Address any doubt upfront
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Perks
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Perks
• What are perks?
• Do I need them?
• Do they matter?
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Perks
• Physical goods • Digital goods • Experiences • Access • Recognition
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Perks can create:
• Passion • Pride • Participation
• Campaigns with perks raise 143% more money!
• 70% of successful campaigns offer 5-8 perks
• $25 is the most popular price!
• Limited quantities create demand
• Perks launched later build excitement
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Personal Focus Group
• Price Point • Bundling • Features • Market reach • Brand evangelists
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Do you want an activity tracker? How would you use it?
Misfit Shine
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$846,675 7,957 funders from 85 countries
…30% wanted a bracelet or a necklace
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Perk Tactics
• Targeted Discounts • Upselling • Partial Buys • Participation • Referrals
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Perk Fulfillment
• Do the math on perk pricing (your time counts)
• Know how you’ll fulfill 10 and 10,000 units
• Research international shipping
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Promotion
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• Team Campaigns with a team raise 339% more than campaigns that run solo
• Inner Circle Friends, family, people passionate about the project
Pre-Launch
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• Only one chance at a first impression
• Utilize a soft launch, 30% inner circle
• Build out a team • Have a schedule; wait on
press!
Don’t leave your campaign to chance!
Pre-Launch
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Launch
• Run your campaign 21-45 days
• Launch on a Monday or Tuesday
• Email brings 20% more $$ than other channel
• Social media accounts for 22% of contributions
• Reach out to press, bloggers and do live events
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Live: Don’t Get Discouraged
Almost always a “dumbbell effect” – contributions weighted heavily at beginning and end of campaign.
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Live
• Send updates • Celebrate milestones
• B-roll from video
• New perks
• Maximize social media • Tweetchats, Thunderclap
• Contests • Referral
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Campaigns that send at least 3 updates raise 239% more than those that post fewer But don’t spam your friends!
Live
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Campaign Completion
Finishing Strong • Update frequently until deadline
After deadline • Customer Service • Use your campaign for
marketing • Thank your contributors • Become part of the Indiegogo
community!
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Indiegogo is here for YOU! Hardware Handbook: Specialized tips http://landing.indiegogo.com/hardwarehandbook/ Blog: Insights, tips and ideas: https:/go.indiegogo.com/blog/ Indiegogo.com: View successful campaigns: http://indiegogo.com/explore/ Help Center: answers to specific questions: http://support.indiegogo.com/hc/en-us Additional Questions? Customer Happiness Team is here! [email protected]
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Together Do Anything. Name Kate Drane Senior Director of Chicago Outreach [email protected] | @katedrane