5 Tips For Crowdfunding Success From True Winning Stories
We live in the information age and at a time inventive minds have become more valuable than ever. Everyone has ideas but, lately, crowdfunding has become the most lucrative venue to get great ideas to cross boundaries. However, the road to success is not easy as less than a third of crowdfunding projects actually reach the finish line at all. Despite that, there are some that thrived and ended up being worth millions of dollars. Here are some of them.
BAUBAX LLC – The World’s Best Travel Jacket with 15 Features
This genius creation was created by BAUBAX LLC in 2016 and was funded with over $9,192,055. The average pledge per backer was $204 and the crowdfunding period only lasted for 59 days.
It is not too surprising that this campaign has been very successful because a jacket is a travel essential. It gets even more exciting when you add 15 features to it that you would be using with other items anyway. It includes virtually anything that a traveller could think of, including earphone holders, a neckphone pillow, warming pockets and much more.
It includes virtually anything that a traveller could think of, including earphone holders, a neckphone pillow, warming pockets and much more.
Kindom Death – Monster 1.5
Kindom Death – Monster 1.5 is a horror board game that features miniatures and cards and where cooperation amongst players is needed for survival. While some might not find this as innovative as other crowdfunded projects, this is actually the fourth most funded project in the history of Kickstarter.
One vital key to its success is that the makers had repeatedly failed with many other projects before this one. However, with each failure, they kept learning and adapting as they improved for what they had in mind next. This also means that they keep close attention to the detail and updates of each game and there is great communication among them, so they are able to keep in touch with almost every player.
This project went from viral video to something that can be seen almost anywhere really quick. The idea was built on something very attractive and lucrative, which is relaxing and achieving focus. This cube can let you manage stress and focus better by what you would do anyway — fidget. You can push buttons, roll a joystick, play with switches and a lot more. What makes this even better is that it gathers all different kinds of stress relieving activities in just one small cube that fits in the palm of your hand.
While the quick success of this product cannot be denied, this is not actually the first project by the creators. They have also done previous campaigns before in which they have acquired success. This has also pushed them to make their own community.
A crowdfunding platform that capitalizes on what it offers, Crowdcube has also become a success story of its own. Since it was founded, this UK-based platform raised hundreds of millions of pounds in pitches, 531 successful raises and 404,980 registered investors. The amount raised by businesses through Crowcube has increased by more than 50 percent last year.
This campaign has been raised with more money. This is actually the third crowdfunding campaign with another iteration of the intelligent watch, so this means that there are already people who have contributed money in its previous campaigns. This line of smartwatches has already developed a fan following of its own who call themselves “pebblers.” They even have a community where they share their experiences and update one another regularly.
With each iteration of the Pebble watch, the creators take into account how happy their consumers are with the product and what they want to see improved. After taking into account the demands and preferences of the market, Pebble has risen to be one of the most successful start-ups by the end of 2016. It would later be acquired by Fitbit.
Whether it’s an intelligent watch, a practical jacket or anything else that addresses basic human needs, you can see from all these that perseverance is the key. Most of these creators did not get it the first time, but their failure worked for their ultimate success. What do you think of this list? Share with us your thoughts in the comments below.
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