Making a product that no one wants will surely lead to financial failure. But there are multiple other equations that lead to failure. Example: awesome pictures + awesome video + awesome price points + awesome product + no project exposure to the public = failure.
Project creators should have a marketing strategy that will give their project the most exposure (e.g. blogs, newsletter, etc.). Here we’ll explain how to hack Kickstarter’s browsing system to increase your pledges by about 15%.
First, it is not necessary to have a large goal to use crowdfunding as a viable source of funding. Thousands of projects set small goals, and many far surpass them.
However, due to the amount of projects launched each day, smaller projects often get pushed down project search algorithms due to their inferior popularity compared to larger projects with momentum. Indiegogo seeks to solve this issue by allowing potential backers to browse projects by applying a “small business” filter. Kickstarter also seeks to solve this issue by providing a protected space called “small projects.”
The requisites to have a project found in the “small projects” section are the following:
Goal smaller than $1,000
Less than a 30-day funding duration
Have a video produced
If a project complies with the previously mentioned guidelines, Kickstarter will automatically detect the project project and will automatically feature it in the “small projects” section–in addition to displaying it in the regular respective category (e.g. “food”).
The theoretical benefit of being featured in the small projects category is getting more exposure. The tangible benefits are displayed by Gary’s Old Fashioned Caramel project.
As of March 25, 2013, the project had 43 backers, 6 of which came through the “small project” section (~14% of total backers).
The Hairbun + Wristband = Buntastic Band also exemplifies the benefit of being found in multiple categories. Being 601% funded with 214 backers, 15.49% of the backers had been referred from the “small projects” category.
In short, know your crowdfunding platform. Seek to understand how people browse and find projects and strive for your project to be there. The more marketing venues the merrier!