The failure to launch after all the hard work is something that happens to more campaigns then most would realize, after spending thousands of dollars and constructing the perfect email to send to your list telling them about the launch, and then only a few convert into sales.

It happens to a lot of campaigns, most don’t understand why and question their product. Kickstarter represents less than 1% of sales compared to e-commerce. Ask yourself how many times have you made a purchase on Kickstarter?

Most people don’t trust Crowdfunding in general, so no matter how good your product is you still won’t get the sale.

Most project creators focus on building a list and think people sign up is going to generate sales, this is a huge mistake.

We go through a deep process of qualifying people who sign up, making sure they will be able to purchase.

• We target only developed countries
• We are targeting only the audience that is most likely to purchase Kickstarter projects
• We are coordinating efforts according to potential PR campaigns, i.e we may target Digital trends audience if we expect an article from them covering our project
• We are targeting audiences that are used to buying Kickstarter projects, targeting the interest of Kickstarter is not enough
• We tell people the price of the project before they sign up
• We educate people about the product through email drip campaigns

We have now introduced a new layer: Medium Level Deposit ( MLD)

To make sure your project has at least 200 sales day one we have bought in Medium Level Deposit ( MLD), this is vital for any project over $79 otherwise you could build a list of 10,000 and get conversions lower than 1%. Here you would tell potential supporters to place a Medium Level Deposit ( MLD) i.e if the product is $100 you’d ask for $20 as a deposit.

What we have added to our 300 step funnel to success is a way to check audiences and make sure they convert.

1. Create a landing page that informs them upfront of what the project is and provides not just a snapshot.
2. Offer various sections for them to sign up
3.  Once they sign up to connect to a thank you page that offers a Medium Level Deposit ( MLD)

We are now getting not only sign ups but we can check an audience and whether it will convert. This example demonstrates perfectly what we mean:

Watches Audience = $100 spent and 100 leads

Rolex Audience  = $100 spent and 50 leads

Fitbit Audience = $100 spent and 10 leads

Based on this example you might turn off the Rolex audience and Fitbit audiences as they are delivering costly sign-ups, but wait we need to assess the quality.

What may happen once you have added the Medium Level Deposit ( MLD) is this:

Watches Audience = $100 spent and 100 leads but 1 Medium Level Deposit ( MLD)

Rolex Audience = $100 spent and 50 leads and 1 Medium Level Deposit ( MLD)

Fitbit Audience = $100 spent and 10 Medium Level Deposit ( MLD)

So as you can see from the example above, Fitbit might be the most costly lead generation audience but it will lead to the most sales when you launch your Kickstarter.

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Kickstarter is an ever changing world, as more and more people use Facebook to build audience people are also becoming used to filling in email addresses but don’t end up buying. As marketers and project creators we have to constantly adjust our strategies.

The post Turning Your Audience Into Backers appeared first on samitpatel.

Keep Rewards Straightforward

It’s best to give your crowdfunding rewards basic. For instance, in the event that a basic reward is a T-shirt, offer may be only a few choices rather than five. This makes it quicker for backers to decide on what reward to settle on, and saves you and your suppliers a lot of time and effort as well as making the turnaround from supplier to backer much easier, keeping everyone happy.

Don’t Underestimate Overhead

Some first-time crowd funders neglect to factor overhead costs into their financing. However, it can be difficult to calculate the true costs of packaging and shipping. This can bring a harsh reality check when it comes time to send rewards!

We normally suggest 20% of your budget should be for reward fulfillment. This should take care of the expenses of post & packaging. Your financing needs to take the production and shipping of the items into consideration.

If you don’t be careful about your overhead post & packaging costs you may wind up paying out of pocket when it comes time to reward your backers. Also, make you take into account the number of backers you have received internationally, there are many extra charges! Including taxes and duties.

Gather your Backers Information

The more data you gather from backers, the easier it will be to send them their rewards later one. It can be difficult to establish contact with some backers for information, adding more unneeded stress to your after campaign efforts. Getting their information straight away will save you a headache later on.

Keep International Backers In Mind

Most crowdfunding campaigns are worldwide, which means you will probably have some out of town backers. It is SUPER important to budget for delivery expenses and international shipping will be the most expensive.

It is difficult to know what percentage of your backers will be out of towners, but the budgeting that you will have done will save you from being sucker punched later on. It is best to consult a specialist when tackling the tax rates of sending internationally, studying up a little on harmonized tariff system will aid you in your efforts.

Be Straightforward

Transparency is key before, during and after your campaign, it will build customer loyalty and equity. When your campaign is underway, communicate about any extra costs your backers may need to cover if they are international or national. Give updates on the campaign, the production of the product, the shipping, expected delivery dates, etc. There are fulfillment providers that can give real-time updates every step of the way, allowing you to pass on specific shipping dates and tracking numbers to customers.

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Turning Your Audience Into Backers – SAMIT PATEL

Organizing the rewards of backers can seem overwhelming, it doesn’t have to be, these tips should help you in your crowdfunding campaigns fulfilments, and help you to build loyalty and equity with your customers.

Need help? Contact our crowdfunding marketing agency today!

The post What To Do, And What Not To Do, When Fulfilling Backer Rewards appeared first on samitpatel.

Apple has just hit us with the launch of the iPhone 7 and 7 Plus and the internet is buzzing. In the months leading up to the launch, speculation was rife. Would they finally remove the headphone jack? How can we cope without it? What other exciting features will be revealed? We will be looking at how Apple uses product launch strategies and how you could do the same.

The iPhones, Apple Watches and AirPods themselves will be spoken about for just as long. Reviews and debates will go on and on. All of this despite the fact that to most consumers the iPhone 7 looks and feels pretty similar to the iPhone 6S.

There’s no reason for the launch to have been such a big deal. Tech sites have already discussed the upcoming features to death and there were few surprises.

Apple has clearly perfected the product launch, generating a massive buzz even when they’re launching something less than revolutionary. While Apple has a reputation that you can only dream of – which is obviously a major factor – most of the marketing techniques they use for their launches will almost definitely work for your product too.

Let’s look at what Apple gets right, and how you can follow their lead.

1. Focus on the audience, not the product

What Apple does particularly well is focused on how the product will benefit the users, not on how great its features are. Most customers don’t care about the exact speed of the processor. They don’t know the difference between 10 and 12 megapixels. What matters is that the selfie camera will take high-quality photos and that the rear camera can separate the foreground from the background. product launch strategy

Yes, Apple’s technical specs are what’s most impressive about their new products. But it doesn’t matter to the average person. You need to speak the language of your target market, not the language of your developers.

When you’re getting ready for launch, don’t worry about describing every last detail of the product, no matter how impressive. Instead, care about how people will react to it, and how you can convert those reactions into buy in.

2. Build a community

No matter what product launch strategy Apple uses there will be a horde of people lining up to get it first. They have a huge fan base made up of loyal users, who hang on every word of every press release.

They haven’t built that fan base simply by having an amazing product. After all, Samsung products do nearly all the same things. It takes more than that to build a community.

When I worked on the Blocks modular smartwatch launch, I spent months getting people hyped. We built a community of nearly a hundred thousand loyal customers – and the product will only be available this December! You can find out more about that here.

By using my three-stage strategy of Imagine, Excite, Get Backing, we let our fan base do half the work for us. Sometimes we hosted discussions on our social media pages, but often they came about organically. Once you have a dedicated community, your launch is guaranteed to generate hype.

3. Keep Product Launch Strategies Simple

Don’t spend hours on a complex marketing campaign that will take as many hours to decipher. Stick to simple problem/solution marketing for the masses, and leave the intricacies for those who have some level of expertise.

Apple does this incredibly well. They recognize the power in a simple image of an iPhone. If you head to the Apple website now, you’ll see an image of the new iPhone with the words, “This is 7”. It’s not even a great font. But they know that does not matter. And for those who are interested, the finer details are just a few clicks away.

While images of your product will not evoke the same thoughts and feelings that an iPhone 7 does, you can learn a lot about keeping your own marketing simple. If your product looks really cool, don’t overload the page with text. If not, find a way of expressing the most attractive features without over-explaining.

4. Play to emotions

In a 2015 study, researchers found that content that evokes a high level of positive emotional arousal is most likely to go viral. In particular, the most effective product launch strategies evoke laughter or awe. Or both.

Apple has always used awe as a way to get people hyped. They’ve been so reliable at wowing us for so long, that we expect our minds to be blown at every launch. Tim Cook is perhaps not as good at it as Steve Jobs was, and it’s been a while since Apple turned the world upside down. Nevertheless, we want to be awed and wait in anticipation every September.

5. Make nice with the press

Long before and after the launch of any Apple product, you’ll find journalists, bloggers, and reviewers discussing all the best and worst features. And while they don’t always shy away from criticisms, they’re generally more focused on talking about the exciting new innovations.

Apple has an incredible reach, and getting access to the good press is not hard for them. Furthermore, they can afford to distribute samples of their products in exchange for reviews.

But if you manage to get at least some of the press talking about your product, your launch will create a buzz. By press, I’m not just talking about the BBC or CNN. Features on any authority websites, such as Mashable or TechCrunch, give your brand a huge boost.

And don’t discount internet personalities, either. Bloggers and YouTubers have hundreds of thousands or even millions of followers. If they review your product, there will inevitably be a large sector of their followers who are interested.

6. Make your launch an event

One of the things that Apple have truly perfected is the art of a launch event. They don’t have a shoddy slideshow with a marketing executive trying to talk up their products.

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Rather, they have CEO Tim Cook on stage, broadcast via streaming around the world. Some people are content for just a summary of the main points. But many others want to be part of the event. They want to find out about the new iPhone at the same time as everyone else, with all the pomp and ceremony.
Make your launch into an event, and you’re guaranteed to build excitement. You’re showing that your product is glamorous. That it’s press worthy. And that it’s well worth the wait. Want expert help? Get in touch with us to see how we can help you launch your Product on Kickstarter & Indiegogo!

The post Product Launch Strategies & How To Do Them Like Apple appeared first on samitpatel.