Six Tips for a Successful Kickstarter Campaign
Aram Chavez started a Kickstarter campaign last March to fund the creation of the Gnombre (Gnome + hombre), the world’s first Hispanic gnome. His campaign was a hit and he raised over three times his $3,500 goal.
“We’ve sold over $20,000.00 of product and counting,”Chavez said in an email interview.”We ran out of Gnombre’s and had to make more. We stopped advertising over one month ago because we couldn’t fill the orders.”
Chavez, who is the chief garden officer of his company, shared six tips with Dos Lives for entrepreneurs who are considering a Kickstarter campaign:
1. It’s up to you to make it viral. Kickstarter provides very little support, over 80% of the funding is going to come from your efforts–meaning, get as many friends, family and acquaintances to spread the word…continuously everyday you have to direct traffic to your video.
2. A confused mind says no. Don’t provide more than six levels of rewards. It’s like a menu at a restaurant, too many items and people get confused. Sure, there are exceptions and you can have 20 levels of rewards, but sometimes less is more.
3. To niche or not to niche: Be proud that your product is not necessarily for everyone, so don’t worry that your product is not mainstream. Most likely your product is in a niche and that’s your audience–try to appeal to this group, don’t worry about the rest. Cater to your audience.
4. Don’t quit your day job. The money raised through your rewards is going to be primarily used to fulfill the orders, it’s a beta (test), and not meant for salaries or overhead. If it’s successful you can start to think about these things.
5. Beginning in January you will be able to raise money from investors through crowdfunding, not just product.–exempt from SEC filings, not SEC regulations, up to $1mm in debt or equity. This is huge!!!
6. Have fun. Let it hang out, be able to laugh at yourself a bit.