Can Your Product Succeed On Kickstarter? | How To Run A Successful Kickstarter Campaign
Can your product succeed on Kickstarter? We’ve been going over different tips and tricks on how to run a successful Kickstarter or IndieGoGo campaign, but it’s time to talk about your product itself. It doesn’t matter how well-prepared your campaign is – you first need to see if your product is a good fit for crowdfunding in the first place.
Crowdfunding is an amazing tool for raising money, but it simply can’t be done for any and all products – at least not easily. People who support the various fundraising campaigns on Kickstarter, IndieGoGo and other platforms don’t do it out of sheer altruism, nor do they only care about the material incentives they’ll get from supporting it. These things matter, but the main rule here is that crowdfunding supporters tend to gravitate toward interesting, new, and unique products that manage to impress them. So, when wondering how to run a successful Kickstarter campaign, the first thing to do is consider the following three things about your product:
What’s your product’s selling point? What’s unique about it, what niche can it fill? It doesn’t have to be a “never-before-seen product”, but there needs to be something new and different about it.
Is your end customer a consumer or is your product intended for a business-to-business model? Can your product succeed on Kickstarter if it’s intended only for social media managers or CEOs? In theory, yes, but generally there are other fundraising platforms and methods that better suit B2B products. For a platform such as Kickstarter or IndieGoGo you want your product to be something that can catch the interest of a wide consumer base.
Does your product have market validation? Sure, your product has a unique twist, but is it truly one of a kind or are there other similar products out there? The best way to know how to run a successful Kickstarter campaign for your product is to check out how other similar campaigns have fared. A big mistake a lot of people make is taking notes from the campaigns for different products from different niches. This is risky because what works for products from one niche is counterproductive for others, and vice versa. The best case scenario is having a product with existing market validation that still has something unique about it to make it interesting.
For more tips and strategies about how to plan your Kickstarter campaign be sure to grab the Crowdfunding Product Launch Field Guide by clicking here.