When to Drop-Kick Kickstarter
To Kickstart, or not to Kickstart? Crowdfunding platforms like Indiegogo and Kickstarter have proven to be really effective ways to raise money quickly, test the market interest of a product and market that same product simultaneously.
Kickstarter has gotten so good at the latter, that some companies that don’t even need funding are running Kickstarter campaigns just to market themselves. And it works.
But the myriad of failed Kickstarter projects should also be considered. And one blog, Drop-Kicker, is doing just that.
Drop-Kicker specializes in featuring failing or failed crowdfunded campaigns. They write about the missed ship dates, confusing upgrades and more. It’s a worthy service and everyone considering crowdfunding should read it just to see what mistakes to avoid. The editors also post comments from the entrepreneurs they write about as well like in this post about Dash headphones.
Of course crowdfunding isn’t for every project, and sometimes founders realize that mid campaign. In this great post, “Why We Cancelled Our Kickstarter and Funded It Ourselves,” the makers of Draft (now Mod Notebooks) detail why they decided to cancel their crowdfunding campaign even though they were on their way to “shattering” their funding goals.
During the campaign, Draft started to get some attention from successful companies like Evernote and Microsoft. That along with a consistent customer complaint forced the founders of Draft to rethink their product. Eventually they cancelled the campaign, but ultimately Kickstarter did help them test their product, get feedback, and collect emails to use when they relaunched as Mod Notebooks.
As the founders of Draft/Mod Notebooks found out, one of Kickstarter’s strongest assets is its ability to gauge market interest in a product, which is a valuable service even if you don't end up meeting your funding goals.