One of the most common and successful Kickstarter campaigns in Singapore are of innovative travel bags. This is likely because Singaporeans travel more than citizens of other countries in Southeast Asia. However, even though many entrepreneurs share similar projects, some campaigns are more successful than others. Considering most of the backers of the various campaigns do so based on the product and not who is initiated the concept, why do some campaigns fail to raise the required funds?
Your pitch was poorly executed.
How you pitch your campaign on Kickstarter matters when it comes to drawing the attention of backers. It can be frustrating when you realize you are offering a better Kickstarter travel backpack than another person, but that person’s campaign brings in more funds and backers than yours.
It is vital to note that the response of backers is often based on their perception of the campaign. For example, if you mention your product is an innovation, you will likely attract people interested in unique products. You could also put off some people who wouldn’t want to invest in products that have never been tried or tested.
You exaggerated the product attributes.
When marketing a new product, you should ensure you don’t oversell it because this could be a problem for skeptical potential backers. Try and find a balance between being optimistic without greatly undermining the risks.
Most backers weigh every angle before opting for a particular campaign. It would be best if you didn’t lie in a bid to get people to back your campaign quickly. Most backers are taking a risk financing your project. They know your business venture might work or not. The least you can do is be honest about your product.
Absence of a great marketing strategy
Kickstarter may have removed barriers, especially when it comes to access to capital, for your business, but you still have to work hard to make sure your campaign gets all the backing and funds it needs. For this to happen, you need to have a budget for marketing.
Posting your campaign on Kickstarter is not enough. You should let people know that you need their support to look at your campaign and help raise funds. Have a budget for marketing in various places, including social media platforms. You should also consider using an influencer, banner advertisements, and press releases.
Poor campaign design
If you have never carried out such a campaign before, dit is critical that you get a mentor willing to direct you. Your product might be incredible and worth every cent you raise, but if your campaign is poorly done, you might miss out on a great opportunity to convince people to back your business venture.
The images you use should have high resolution, and if you are using several shots, ensure you get different angles. You should also use images of people using the product because this tends to prove the product is authentic. In addition to the product specifications, ensure you highlight the benefits of some of the features. You can also add music to your campaign to make it more enjoyable.
Having a great idea for your travel bag business is not enough to get people to support your campaign on Kickstarter. It would help if you did more to get the attention of as many backers as possible. This is how some Kickstarter stores get all the funds they need. You can raise more than you expected, but only if you take measures to create a worthwhile campaign.