Something people spend lots of time/money on that they shouldn’t:
Areas people should spend more (as in all) of their time/money:
Video Quality Does Not Matter
We’ve met several people who have spent thousands of dollars on a video for their crowdfunding campaign. That’s not a bad thing, but those dollars could be much better spent in other areas. Why, you ask? Because video quality simply doesn’t matter much on Kickstarter and IndieGoGo. Here are a couple examples of projects that did over $100,000 each with terrible videos:
Kerfluffles Marshmallows: $104,667
Precision Machined Dice: $153,328
And here are a couple examples of projects that failed with phenomenal videos:
Humanoid Wake Boards: failed.
Flip’n Grip Wallet: failed.
How to Spend Your Budget
Given that video quality is irrelevant, you should shift your video budget to two things that do matter: photography and marketing.
Your product needs to look awesome for two reasons:
1. Which of these two big macs would you rather buy / eat?
This doesn’t mean that you have to hire a photographer, but seriously, take the time / spend the money to get some really, really good pictures for your project. If you’ve already taken them, and they’re bad, take them again. And again. Until they’re awesome.
2. Media will not post bad pictures. Their product is a visually appealing blog or news site, and the really good ones won’t compromise that to feature your project. For example, the Linear Calendar project we launched was featured by Fast Company, and check out what it looks like:
You’ll notice there isn’t even any text for more than a full page until you scroll down. Pictures are the great bulk of the content in this case, and they simply won’t post bad pictures, so if you want to get media attention, be sure to have really, really high quality images.
Kickstarter will generate some traffic, but if you want to do more that a couple grand, you’ll need to pull in traffic from other sources. Almost every project that has gone really big on Kickstarter ($25k +) gets there because they get featured by relevant blogs.
This is a very simple equation: traffic = pledges (times conversion rate).
Media = more traffic = more pledges.