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MenuHow do I successfully raise money and awareness for my new company (BoatTests101.com) on Kickstarter or Indiegogo?
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First thing to do is to research other crowdfunding sites other than the big two as neither was really meant to raise funds for startup businesses. I would suggest something in the nature of www.crowdfunder.com or www.seedinvest.com might better suit your needs.
Completely understand the need to raise funds in order to move forward with the vision of your business, but I'm not convinced kickstarter or indiegogo (or any other donation-based platform) is your best route.
Do some research on ways to conduct pre-sales, which is essentially what you need. I believe there are some nice wordpress themes + plugins that would allow you to start collecting leads and converting them to paying customers on a waitlist until you hit a specific number. That might be a good option. I believe bigcommerce and shopify also have apps that make that possible as well, if you want to go a more traditional ecommerce route.
Have you thought about just moving forward in a grassroots way-- signing people up one at a time face-to-face, until you have enough paying customers to get going?
Good luck!
Crowdfunding is a great method to build a customer base, get feedback on the product and provides a targeted marketing channel. In your case, it appears the product is already available so I do not see the appeal/anticipation of the crowd in this case. I agree with the earlier experts here that this may not be your best avenue and you may end up expending more resources for limited gain.
You require a great pitch video/message for your audience that is simple, engaging and would ignite interest. Throughout the effort you will have to constantly maintain contact and update your supporters and backers. You will need a dedicated, pre-seeded general and social media strategy and have prizes or specials through the campaign to keep interest going. Not all campaigns strike gold from day one and others have an ebb and flow as interest wanes and returns so you will need a dedicated marketing team setup months ahead of time working prior to the launch.
Related Questions
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What will be the pros and cons of equity crowdfunding? Will crowdfunding give a startup a higher valuation? How will valuations be determined?
After shepherding 300 equity crowdfunding raises through our platform I'd say all of them have a higher valuation. Reason is it is the entrepreneur that is calling the shots. It is the entrepreneurs offer on their terms on an equity crowdfunding platform. Once you get outside investors involved shaping the deal the valuation will most certainly go down. Agreed it may then be more realistic as everyone believes their company is more valuable than it is. My advice? Treat early investors fairly. Money is the lubricant to get your idea into reality. Give them a fair share of the business and they will reinvest when need be.PN
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Any opinions on raising money on Indiegogo for an app?
Apps are difficult to fund on IndieGoGo as few are successful, and we rarely take them on as clients. Websites like http://appsfunder.com/ are made for that very reason, but again, difficult to build enough of a following willing to pay top dollar for an app that could very well be free, already existing in the marketplace. A site that is gaining more traction you may want to look into would be http://appsplit.com/. Again, Appsplit Is Crowdfunding For Apps specifically.RM
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When launching a product on Kickstarter, how and when do you get press coverage?
It's all about building a relationship with these journalists and bloggers. You want them in your pocket long term. Ultimately, they are usually interested in the same things as you, which gives you a chance to connect on a deeper level and make an online friend. If you make a friend, then maybe they can even introduce you to their other journalist friends when the time is right. Ps: when you finally do send them your stuff, keep it short and make sure your visuals get the point off without them needing to read a description. Visual storytelling is huge. Remember: people don't like to readJM
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How do I raise money for my small e-commerce business on Amazon?
I'd need to understand a bit more about your business, but I suspect one answer is to work toward getting an accounts receivable-based credit line. Amazon is a good company that pays it's bills. Lenders will either loan against the Amazon receivables or buy them from you at a discount. This approach is expensive but if cash flow is your issue, worth exploring.CY
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Is it foolish to post a Kickstarter campaign for a SaaS that is primarily for businesses (not consumer oriented)?
It's not foolish, but it's going to be extremely hard to pull it off. I would consider starting with a beta program so you can have some paid clients to pay for the company's expenses. After you have some traction, you can raise a seed round.RD
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