The Invisible Interview Pt. 2
I can see you. Can you see me? Image: Universal Studios
By Alex Greenwood
(Cross-posted with Goodreads)
A prominent business publication flattered me a few months ago by asking for an interview about my bestselling ebook (and now audiobook) Kickstarter Success Secrets and seminar on how to succeed at crowdfunding.
The reporter wanted to do an email interview–she sent questions, I sent back answers. Well, I guess my answers weren’t all that interesting, as the interview never made it to print or online. But you, dear reader, can read this “invisible interview” and decide for yourself…
And now the conclusion. If you missed part one, click here.
What types of businesses/business campaigns benefit the most from crowdfunding efforts through Kickstarter and why?
A flawed stereotype assumes only “artsy” types benefit from crowdfunding. I’ve seen brilliant ideas for everything from an ingenious minefield-clearing device to films to books along with loads of innovative Smartphone accessories. Manufacturers of “tech eye-candy” devices can do well, just as many writers, artists and musicians do. However, it’s not always about product; I’ve also participated in a crowd-fundraiser to help a fellow author pay for his son’s cancer treatment.
What types don’t?
Crowdfunding is probably not a great platform for businesses that don’t offer a tangible final product. I also can’t see it being much of a help to a business that can’t explain its product, service or mission in 140 characters or less.
What are some specific ways a business can convey it is credible on Kickstarter?
Be transparent and authentic. Make a contract with your backers. To those ends, I created a humorous video. It was amateurish and corny, but it showed I’m an earnest, real guy who probably wasn’t going to take backer cash and flee to Costa Rica. I also provided links to my Facebook page, the Amazon pages for previous books in my series and a positive review of one of my books. I posted a “date certain” when the book would be delivered. People saw proof that I’m a serious writer and that they would get a book out of me. If you’re vague about who you are or how and when you’ll deliver your product, you create doubt. That doubt can make the difference between new backers or people taking a pass.
What are some key bullet points entrepreneurs should include in the timelines you’re recommending they keep?
• Start with a solid platform of engaged social media followers. It doesn’t have to be thousands, but it should be populated with people who believe in you and feel that you’re part of their tribe. I Tweeted, Facebooked and emailed hundreds of people for three weeks; ultimately, it was 38 generous backers who funded 106% of my goal.
• Establish good perks. Offer some fun, “sexy” things. If you’re a writer, offer to name a character in your book for high-paying backers. If you’re selling an iPhone accessory that will eventually go into mass production, make sure you offer a “Kickstarter-only” model exclusive to backers. People want to feel special–part of an elite group–and they deserve to be treated that way if they’re there for you on the “ground floor.”
• Give your campaign the proper amount of time. I raised my goal 25 hours shy of three weeks. My campaign ended just as “victory lap” backers started contributing; nothing breeds success like success. Unfortunately, I turned off the campaign just as word was spreading that my project would make it. In retrospect, I wish I had given it 28 days; I might have made more “bonus” money for my project.
• Communicate. Before, during and after the campaign, let prospective and pledged backers know what’s going on. If you succeed in getting funded, update backers frequently on production and delivery dates. If you’re running late, let backers know. Consider also padding your delivery date by a week or so. Trust me on that one, especially if you’re depending on printers, manufacturers or shipping services.
• Deliver. Most crowdfunding is “buyer beware.” There are successful projects out there that failed to ship. The project creators kept the money and that’s that. If you succeed but get in the weeds and don’t think you can fulfill your promises, refund as much money as you can. Once ruined, you can’t buy back a good reputation.
