Kickstarter or Indigogo

Discussion in 'General Business Forum' started by jibbajabba, Jan 24, 2018.

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  1. jibbajabba

    jibbajabba UKBF Contributor Free Member

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    I am in the planning stages of my crowdfunding campaign and am trying to make a choice between the two platforms. I have a gender neutral dolls house with interchangeable backgrounds.

    I have spoken to Indigogo and they are happy to go ahead with it. Not spoken to Kickstarter but they are bigger (comes with an extra 2% cost).



    Has anyone experience with both and could give me any tip's/stories/pitfuls.
     
    Posted: Jan 24, 2018 By: jibbajabba Member since: Dec 29, 2017
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  2. ethical PR

    ethical PR UKBF Legend Free Member

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    It really depends on which one is likely to attract the sort of investors that want to invest in your business.

    Do you have a clear idea of who you want to target (age, demographic, interests etc? ) Have you road tested the incentives you want to offer with your target market to make sure they are ones they would be interested in?

    Do you have a marketing campaign (and budget) to drive interest to your campaign and encourage people to sign up?

    I am sure there must be blogger and business sites out there who compare the various crowdfunding sites - have you had a look to see what's out there?
     
    Posted: Jan 24, 2018 By: ethical PR Member since: Apr 19, 2009
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  3. Sam Drury

    Sam Drury UKBF Contributor Free Member

    63 10
    Both seem to be good platforms, but as the previous poster said you really need to plan the marketing campaign. A lot of pitches fail because insufficient attention is paid to the marketing aspect.

    You may also want to consider Crowdcube.
     
    Posted: Jan 25, 2018 By: Sam Drury Member since: Sep 15, 2017
    #3
  4. fisicx

    fisicx It's Major Clanger! Staff Member

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    Build prototypes and give them out for people to try. Use SM to talk about the products (not just on your page), get people to put images up on Instagram and pinterest. Ask questions on toy and child forums and mumsnet (but do not self promote). In other words, build interest in the product before crownfunding.

    Make sure you have a solid business plan. Cost up the materials and production. Ideally you even want interest from the chains to stock your product as this will give investors confidence you have a viable product.
     
    Posted: Jan 25, 2018 By: fisicx Member since: Sep 12, 2006
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  5. jibbajabba

    jibbajabba UKBF Contributor Free Member

    35 1
    the prototypes are £200 each, first one due in a couple of weeks
    the budget is a sticking point I have about £800. I have had a focus group and price concept and product was validated with a few small changes.
    Marketing campaign is difficult as its a learning experience as I go. I'm ready a lot and trying to put it into perspective and I have a few courses next week and a couple of meetings with crowdfunding consultants. its all theory though. I have a marketing graduate on an internship to help out.

    I have checked out the bloggers but they seem to be for tech product's. I have emailed a couple of similar campaigns to see what they have and have some advice from indigogo.

    Target market is female, 2 kids, 25 - 35 income between 25k and 45k living in a densely populated city and lives in a flat. I have a bit more details but its still assumptions.

    im going to check which of the two platforms has better suited target market.

    I have a rough plan but theoretical, posting regularly across the forums, email blogging setting up a official page to engage from as well as me and the intern. not done crowd cube but they keep popping up in my feeds. its worth a shot. the main thing attracting me to indigogo is that they have a guy in Europe whereas kickstarter doesn't.
    PR is an issue, I dont know how to do it so I am just going to start emailing the jorno's and see.
    I have been trying to think a few stunts. Eating a brussle sprout (kids most hated food) for every £10 raised and posting every one i eat. Out and about I get £100 i stop and live feed eating 10 raw sprouts.


    We have a list of around 200 resoruces (bloggers, forums etc) and just refining the ones we can put the effort into. I have one blogger willing to do a freebie but without the product being able to be reviewed its a tough sell. Pintrest is a good one but its a whole different platform to anything i have used. It fits the target market though and I have been trying to learn it.


    Thanks for the advice so far.
     
    Posted: Jan 25, 2018 By: jibbajabba Member since: Dec 29, 2017
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  6. ethical PR

    ethical PR UKBF Legend Free Member

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    If you are looking at PR stunts they should relate to your product, which brussel sprouts definitely aren't.

    @fisicx is absolutely right in order for you to be successful you need to build support and interest with your target audience.

    You need;

    1. high quality images and video content
    2. a strong back story why are you doing this? what is your personal background - did you have doll's houses as a child? what is the advantage of having one? has having children made you think about the advantage of having a doll's house?
    3. Engage those on Doll's House forums - there are loads out there - what work have you done with them?
    4. Research and come up up with a list of target media and bloggers - and make sure you are targeting the right bloggers and media. - think about the media your target audience read?
    5. Don't just email bloggers and journo's. Focus on your personal story and the story of what doll's houses mean to children. Send them a well written summary with high quality images and video content. Highlight what you are offering investors. Include information on celebrities who have been quoted as saying how much they valued having a doll's house as a child.
    6. Look for relevant FBs/Pinterest and other social media and build and audience that you can talk to one you have your campaign up and running.

    There is lots of information already out there on marketing crowdfunding campaigns use it to help you build your marketing campaign.
     
    Posted: Jan 25, 2018 By: ethical PR Member since: Apr 19, 2009
    #6
  7. jibbajabba

    jibbajabba UKBF Contributor Free Member

    35 1
    Thanks it's really useful.
    i went for brussel sprouts as its focused on kids. kids hate brussles. I get it though, will try to think of some more stunts.
    1 definitely.
    2 Ok will get the back story down, essentially its about my boy playing with my daughters dolls house but it being pink. And this one closes up so it looks like a sideboard meaning as parents we can have our front room look like an adult space when the kids go to bed..
    3. The ones i have found have been dolls house ornamental's and hobbiest rather than kids playsets.
    4. I will think about the media perspective as we refine our list.
    5 Ok, I will focus a bit more, offering is crowdfunding perks, so far we have discounts only.
    6. should I start commenting on these as me or the company?

    thanks again.


     
    Posted: Jan 25, 2018 By: jibbajabba Member since: Dec 29, 2017
    #7
  8. fisicx

    fisicx It's Major Clanger! Staff Member

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    Forget crowdfunding for now. It's far too early in the process.

    Get some the prototypes made - they don't have to be perfect. I know someone that made theirs out of fibre board and sellotape. Then give them to children to play with. This will help generate interest. Get pictures - loads of them and start showing them on various fora. Focus groups are great but unless you have got a deposit from them their opinion has limited value. and you want the product to get broken. You need to find the weak points and the favoured bits to help refine the product. The more finished the design (and the production line established) the better the chance of getting investors.

    The idea is you go to crowdfunding with a whole bunch of warm leads from people who have seen or heard about the product. Once you start the crowdfunding exercise you can contact everybody and start getting investment. You will need far more leads than you need investors.
     
    Posted: Jan 25, 2018 By: fisicx Member since: Sep 12, 2006
    #8
  9. jibbajabba

    jibbajabba UKBF Contributor Free Member

    35 1
    I don't think I added how far along in the process we are, although the conversation has gone (rightly) a lot more into the marketing route. Target date for crowd funding project launch is 15th March. For the next 20 days it's building the audience and the pre buzz. then its the big marketing/pr push for it before the actual launch.


    I have some pics with the earlier alliteration of the product's with the kids playing and in its development stages. I shall put them about on the forums. I guess i should do that as the company rather than a parent?

    production line is established, got a couple of factories bidding on a 300 run (of which the crowd funding is for). My engineer and I are popping over to get the "gold standard"prototype done when we are over there.
     
    Posted: Jan 25, 2018 By: jibbajabba Member since: Dec 29, 2017
    #9
  10. fisicx

    fisicx It's Major Clanger! Staff Member

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    Aha!

    Then it looks like you are on the right track.

    A 'story' website can help. There are lots of sites that will use your pictures and story so publish them on a simple site. You will get the 'Dad builds doll house for his son' posts and shares.
     
    Posted: Jan 25, 2018 By: fisicx Member since: Sep 12, 2006
    #10
  11. godoit

    godoit UKBF Regular Free Member

    325 26
    I don't have experience of both but i did a bit of a check and a few projects raise a bit on kick starter then go on to indigogo and raise a bit more.
     
    Posted: Jan 26, 2018 By: godoit Member since: Oct 8, 2014
    #11
  12. jibbajabba

    jibbajabba UKBF Contributor Free Member

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    does anyone else have any direct experience?
     
    Posted: Jan 29, 2018 By: jibbajabba Member since: Dec 29, 2017
    #12
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