Our Kickstarter has been fully funded! Here is our ‘guide’ to launching a successful Kickstarter Campaign
It’s all over. After 31 days of our Pyjama (and Bed Sock) Kickstarter, we hit our £8,500 target (well, £8,617 to be exact!). We want to thank all the backers and bloggers that have helped us get to our goal so that we can now go into full production. We so appreciate your support. We have learnt a great deal during our Kickstarter Campaign particularly about our products and our customer base. We are now applying all we have learnt to our online store to make it even better for our new and returning customers!
Kickstarter was a very interesting experience, there were highs and lows like any business project but ultimately it was well worth doing. Numerous people have contacted us asking whether we would recommend launching a Kickstarter Campaign and our response is that it depends on the type of product you are launching. Kickstarter plays very well to tech and gadgetry products, less so to fashion (it has only a 26.76% success rate for fashion projects). That being said, your fashion product still can be funded (like ours) but you will have less organic visits from Kickstarter itself, meaning greater effort is required from you to drum up support. Fashion products with a tech element seem to do well and especially if they originate in the U.S, being the home of the Kickstarter.
Brand exposure and market research are the main reasons you should do a Kickstarter Campaign, however, do not assume that it will provide you with free traffic to your website and Kickstarter page. There is a lot of preparation to do before launching a campaign; emailing potential customers, emailing media, bloggers etc. You need to create hype about your Kickstarter before it launches. We had a very restricted budget with regards to advertising and although in the end it turned out fine, I would recommend having some sort of advertising budget in respect of Social Media (facebook ads, Instagram, twitter). Keeping the momentum going during the campaign is also key, so every day you need to come up with a creative way of getting more people to pledge.
It’s important to create a captivating video of the story behind your company. Most potential backers will have never heard of your brand. Creating a video is a way of convincing the consumer that you are a reputable brand and that your product is worth investing in. On Kickstarter, video budgets vary considerably, from people spending next to nothing to others spending tens to hundreds of thousands of pounds (which we would not recommend!). The video should be kept short and to the point (our video was under 2 minutes long)
You want a happy medium between not having enough rewards and having far too many. Keep the reward system as clear and as concise as possible for your backers to pledge. Offer good discounts (on the anticipated RRP) as an incentive for backers to pledge, Kickstarter Campaigns are very price sensitive so bear this in mind. Remember that backers are taking a gamble on you actually delivering the product plus there will be a waiting period whilst production takes place before they take delivery of their reward. We offered free shipping worldwide as an additional incentive. In hindsight, our products were probably too luxury for the average Kickstarter backer.