003 Right PSI – Kickstarter
ZacBob: Welcome back Crowdfunders! Or if this is your first episode, thanks for tuning in. My names ZacBob, and I will be your host today for episode 003 on CrowdFund Genius. Todays show we will have Jack from Right PSI who was looking to raise $20,000 on Kickstarter for his new tire cap invention that shows when your tires are under-inflated, saving you money, keeping you safe, and!! Helping the environment. Thanks to Jacks awesome crowdfunding skills he was able to raise over three times that amount!
You can check out the images of Right PSI’s campaign and the crowdfunding video in RIGHT HERE on our website CrowdFundGenius.com. While your there don’t forget to sign up for our email list so I can send you phenomenal crowdfunding tips and insights along with awesome crowdfunding campaigns! Also I would be extremely grateful if you left a review on iTunes. Also, if you leave 5 star rating, I will give you a shout out on the next show!
Okay, now without further ado, lets start the interview! I have Jack here from Right PSI. Jack tell us about you and your crowdfunding campaign Right PSI, Tire pressure at a glance!
Jack from Right PSI: Right PSI if you don’t know, we make tire assistant pressure caps. If your tires could talk to you they would tell you that I’m too full or I need to be filled up. That’s the two things they would tell you, and that’s what our caps do! You can fill right through them and you don’t even have to take them off your tires. Maintaining tire pressure helps you save money and makes your drive safer.
ZacBob: Jack At the beginning of the show I was filling the audience in on your success. On how you not only hit your goal, but you were able to surpass by a pretty large amount. You want to tell all the entrepreneurs, or Crowdfunders listening about your final numbers.
Jack from Right PSI: Yea absolutely, we ended up with about 1570 backers, with over 70,212$ dollars which is a little over 350% of our original goal. So we were very excited about that result.
ZacBob: That’s Amazing! One First thing I noticed on your crowdfunding page was you had some really nice photos of the product being tested, as well as some close ups. And given the size of your product the close ups really show what your getting. Did you hire a photographer to come in? If not what type of equipment did you use for those photos?
Jack from Right PSI: We have a nice cannon SLR that we did a lot of the photos with. But the video we did have a professional company do that for us.
ZacBob: I noticed you had stretch goals as well. But you came about $5,000 short of reaching the App that works with RIGHT PSI. Are you going to be able to make that app anyways?
Jack from Right PSI: Yea absolutely that’s always been in our plans. There’s really no good place to go. People really don’t know what PSI their tires require.
ZacBob: Your right, I have no idea where the PSI is located. Is it on the tire somewhere?
Jack From Right PSI: Its right inside the driver’s side of your door on a placard. Its manufactured, and standard by the federal government that its there. Most people don’t know that, they think with a quick Internet search that they can find a tool that will tell them their tire pressure. But that doesn’t really exist. In order for us to sale this we are going to want to build that app. Maybe not an app but a mobile enabled website will probably be the best solution for that.
ZacBob: Why did you decide to use Kickstarter instead of the other platforms out there?
Jack from Right PSI: Kickstarter really offers a huge built in audience. If you look at the numbers that came out when they mentioned they had over a billion dollars in pledges. They’ve got millions of people backing projects. And if you look at any project and you look at the backers, a lot of the backers on projects that back hundreds of projects. 100s might be the outliers but people have backed 10-20 projects that are kind of just on Kickstarter looking for cool stuff. They have seen it as a venue to get the next cool thing. That makes up a huge chunk of what the value ad is for Kickstarter. They do charge quite a bit of money. 5% for raising money on their site but you really get a ton of value for that. Indiegogo doesn’t have that type of built in audience. Especially for a project like ours that’s launching without any sort of built in audience at all or really any publicity behind it. It was a good way to tap into an existing market and offer our product.
ZacBob: Now is your product considered a tool or a automobile accessory?
Jack from Right PSI: Its more of a part accessory. Were technically a tire cap accessory is the space where in. So oddly specific.
ZacBob: oddly specific, extremely specific, we like them both on CrowdFund Genius. How many pledge amounts did your campaign have?
Jack from Right PSI: Over 20 we ended up with a lot. That something going back, that I would’ve streamlined the pledging system. I mean we got everything from $1 dollar all the way up to $1500. And we had people pledge at every single level.
ZacBob: Well let’s pick your three best pledge amounts and talk about those.
Jack from Right PSI: $25, $50, and $100 in terms of dollar volume were our largest. $25 was one set, $50 was two sets, and $100 was four sets. And we had a lot of people at all those levels. Obviously individual cars, two cars, a family fleet, or mix and match. We have people buy for motorcycles, two cares and a motorcycle. Two cars, two bikes and a motorcycle, we had a lot of people at that level as well.
ZacBob: Your highest pledge amount was $1500 dollars. And you did have a backer for that as you pointed out. What was included with that $1500 dollars?
Jack from Right PSI: Were based out here in Bosom, Montana. I don’t know if you’ve ever been out here or not. It’s a large outdoor activities area. So we thought it would be kind of fun to offer some trips out here. Sort of a curated trip out to Bosom without airfare included. And the $1500 dollar trip was a 2 day professionally guided fly fishing trip on, either Bighorn, Yellowstone, or Madison rivers which are all within an hour or two of here.
ZacBob: Are you doing the guided tour or someone within the company?
Jack from Right PSI: John our founder is from out here and he knows a ton of people. So were going to have somebody John knows do that does fly fishing tours. And they will be doing that.
ZacBob: Was this your first Kickstarter campaign?
Jack from Right PSI: We did do a previous Kickstarter. Because John (founder) had launched one of the Christmas season. Which was kind of difficult with people getting gifts and stuff. He didn’t really have the time at the time to put in the PR effort that needed to go into it. It failed and he only ended up with $9000 dollars out of a $30,000 dollar goal. The first time around I think he cancelled after about a month. So this time around we lowered the goal a little bit and we really had a huge PR push behind the launch. A huge help was a lot of the people from the previous Kickstarter jumped on within the first day. That helped us get a lot of momentum in the launch.
ZacBob: Where you able to get the backers from the previous campaign to help you with your new crowdfunding campaign?
Jack from Right PSI: Yea absolutely and the other thing that’s nice that they allow you to do is update your old Kickstarter sight as well. So we sent updates from our old Kickstarter site to the previous backers the day before we launched. We said hey were re-launching the campaign and would love if you guys came on and we lowered the price and etc.… We had a lot of people migrate over very quickly. The first day was something like $5000 dollars and the second day was like $6000 dollars. The really nice thing about those big days is you get up in the rankings on things like KickSpy, or Kicktraqs. Then you get popular on the Kickstarter website that drives even more traffic to your site. That was really crucial to getting to where we got.
ZacBob: I see you had previously won an award. 2011 Popular mechanics best new design is that right?
Jack from Right PSI: Best new product design yes.
ZacBob: Best new Product design; you were featured on Motorcycle.com, Tree hugger, popular websites like Tech Crunch! Was all this media coverage before the campaign or after the campaign had launched?
Jack from Right PSI: No all that was after the campaigned had started or in conjunction with the launch of the campaign. We had a media list we attacked with individual emails to journalists at the separate publications. We sort of went along and found different/more websites and we would send out press releases and just kind of hammer on it. Making sure people knew we were out there. If your not going to tell people there not going to know your there. That was a huge part to our success. If you look at a chart of what we raised and how much it was per day. You can see tech crunch was huge and getting on there was really nice. That was probably another 10-15 thousand dollars for us. That was a huge kudos.
ZacBob: Can you do a sort of quick breakdown of what was inside the press releases you sent out to everyone? I’m sure my audience would love that.
Jack from Right PSI: Yea absolutely. You know we tried a few different strategies, sending out press releases was kind of the least effective. One of my friends runs a website called press friendly, and they aid in a way to contact journalists. And give you a few names to contact. There method that we kind of ended up uses was when you contact these people you don’t want to send out mass emails. Sending out mass emails is a quick way to get ignored. Make the subject of the email have their publication in it, that’s something I did every time. Or make sure it has a name of the person its going to. And at the very least make sure you have an understanding of what the publication does. Because that’s the quickest way to get ignored and never talked to again. Is to send an email out to a biking website that is touting RIGHT PSI as a great thing for cars. It just really rubs people the wrong way. The formula that ended up being most successful with us is customize the name in the subject line and a quick two little paragraphs. “Hey we got a Kickstarter going It’s a really cool product, here’s what it does. And here’s some more information below.” Then you kind of end the email there and have some bullet points below that they can copy for an article for them. Then obviously your contact information. Then attach your press release to that email. We did end up getting a lot of responses from that which was great. Tech Crunch, Digital Trends, We got a ton of media from those. Which was what really kind of drove page views and conversions. Which was nice.
ZacBob: Where you sending these press releases in advance? Or the day of launch or what?
Jack from Right PSI: We sent a lot the week before we launched. We actually had a couple of articles come out inappropriately before we launched. Which was a little annoying. Especially because we had the previous Kickstarter people would go on and be like “oh they already raised $9000 dollars.” But we were like no we haven’t even launched yet. Even though we were very clear that hey were not launching yet, were just letting you know its coming up and wondering if you would be interested in writing an article about that. Be extremely clear and making sure journalists understand when your launching is extremely important too.
ZacBob: This is really great stuff. My previous show we had gentleman who talked a lot about his Facebook and Instagram and social media marketing in general. And now I have you on here talking and sharing all these great secrets and tips for press releases, and targeting the media. But what about social media? How big of a roll did that play into your success?
Jack from Right PSI: You know quite frankly I was looking at that on the questions you sent me and we could’ve done a lot more with it. I’m not super savvy on the social media as I should be. But by the time you launch its way to late to try and get your act together on that. The most you could do is kind of tweet or Facebook the milestones. Or something like that which is kind of what we ended up doing. But building a following on Twitter and Facebook I think that would’ve bumped us up to the next level. I mean another $10,000-$15,000 dollars if we would have done it properly I think.
ZacBob: But you did Use social media during your campaign right?
Jack from Right PSI: Yeah absolutely. I think people don’t trust you if you don’t have a social media account these days. You can go look at our Twitter page @RIGHTPSI or our Facebook Page RIGHT PSI so you can kind of see the type of stuff we put up. Another thing was both John (founder) and I were kind of putting stuff on there. So it wasn’t really a consistence voice with the account. We were behind the ball in putting the time on twitter and Facebook like we needed too. I think having a consistent voice or having that being somebody’s job to run those (social media accounts) is important.
ZacBob: Did you use any paid channels on Facebook and Twitter?
Jack from Right PSI: We boosted a couple posts on Facebook but we didn’t see a ton of results out of that. We probably spent maybe 25$ through the whole course of the campaign.
ZacBob: I know some of our guests on the show are fortunate enough to make it on staff picks or the popular projects part of Kickstarter. Where you able to make it in any of those sections?
Jack from Right PSI: I wish! We check it everyday to see if where there. But it would’ve been nice. It’s kind of disappointing; I don’t really know how they pick that stuff. Because some of the projects are obviously not going to fund that they picked. Some of them are not even that cool. It seems so super random. I think we were a perfect fit for Kickstarter. It’s a product category that they don’t normally cover. If you go look on Kickstarter. There’s not a ton of automotive on Kickstarter. In fact it was pretty funny, one of the first articles we got was from a smaller auto blog. And down in the comments we had people saying. “A lot of Kickstarters always fail,” “I see this ones already failed,” “Its terrible.” Just a lot of haters all over the Internet. But yea it was a new idea and something that’s not on the market yet. It’s something that’s really cool and I think people are going to like. I don’t know why we didn’t get on the popular projects. I don’t blame them because they get millions, tons of projects going at one time. They obviously cant plug them all. But it would’ve been nice… It would’ve been really nice. If you look at the daily raises for the projects that get on the popular section, you can go on Kicktraqs, or Kickspy and they break down the stats for you. You see an appreciable bump when stuff goes up there.
ZacBob: Okay now that were back, Was there a turning point in the project when you seen that you were going to make it? If so tell us about it and what it felt like.
Jack from Right PSI: It was kind of wild; the first couple of days was sort of unexpected. Because the way the last one went we were kind of very pessimistic. We lowered our goal and weren’t sure we were going to hit it. I had an excel spreadsheet laid out with what we needed to make everyday to hit $20,000. But after the first day it was just like Whoa. I think we kind of knew after we raised $15,000 in 3 in a half days that we were getting there. Then it was kind of a question of “well how big can we make this?” And when your averaging over $3,500 a day and you average that over a whole project you can get some numbers very quickly. At that point is was more of making realistic expectations of were we are going to get. After the first week I set a goal to hit $1,500 dollars a day for the rest of the project on average. That ended up being almost exactly what we did. My estimate had us ended around $67,500. By which we beat by two in a half thousand. It was kind of nice to sort of figure out where it was going. But another turning point would’ve been that Tech Crunch article. It was pretty wild I was on the phone with somebody and I got the Kickstarter alerts on my phone. My phone just started beeping, new backer, new backer, new backer. I told the person on the phone I got to go I have to figure out what’s going on. I did a Google search and thought oh wow that’s big news. So that was kind of a turning point too. Especially since we were kind of starting to hit that slow middle. So right when that article came out that gave us another good week. So that was awesome.
Jack from Right PSI: I do a lot of everyday, when I get in. I do a lot of Google searches related to Right PSI, Right PSI Kickstarter, Right PSI Kickstarter raised. Just a lot of different combinations of Right PSI and Kickstarter. Then you just kind of go down the mini ten pages of each one just to see if there’s anything new. Because I do it everyday and I’ve clicked on everything its easy to see. If its blue, we gotten some new media.
ZacBob: Did you have a coach, or attend any Kickstarter schools or webinars?
Jack from Right PSI: No not really I just did a ton of research. There are a lot of great resources online. I’m a member of this group on Facebook called Kickstarter best practices. Obviously large portions of the Kickstarters that get launched are gaming or video gaming related. So there’s a lot of the RPG creator crowd on there as well as a smattering of other people on there. They’ve got a lot of great resources on there for people that are kind of learning about Kickstarter. And it’s a great place to go and ask questions. So kind of using that. It was sort of the first thing I found. So I kind of used that as a base and built out from there. Just in Google searches and looked around message boards and blogs. Kind of whatever I could find to just sort of get my head around of kind of what we needed to do.
Jack from Right PSI: Ye absolutely. Kicktraq is great; Kickspy is slightly different but also good. Then I have this giant excel web sheet with more data points from a Kickstarter than you really want. So we had a bunch of stuff to track it.
ZacBob: All these tools are great and Ill have links to them in our show notes on our website CrowdFundGenius.com So with all this tracking and excel sheets, tell me where did majority of your traffic come from?
Jack from Right PSI: If you break it down by source, and I’m kind of going off the dashboard I’m kind of looking at. It’s around 64% from Kickstarter sources. Than 34% from outside sources. A lot of those outside sources were straight from news sources like the Tech Crunch article or the Digital trends article. We got an article in a magazine called “Overdrive” which is big in the trucking industry, which we got a ton of truckers from. We did a level (pledge) specifically for truckers and we got a few people on that. A bunch more people kind of called just to check it out. For us we didn’t have a social media presence really. A huge one. So keeping the PR going was what was kind of driving page views. That’s really at the end of the day that some people when they get to the page are going to want to buy the product. We had about a 10% conversion rate on video plays. So it was just the more people we can drive there the more people were going to get.
ZacBob: How could Kickstarter have made your experience better on their website?
Jack from Right PSI: Leading up I had a couple of questions about how its going to work with the old project and re-launching. I would’ve like to talk to somebody. Call me old fashion. But were engaging in a major financial situation with this company and they don’t really have an email address or phone number on the entire website. The only way you can get in touch with them is through there five pages deep how can we help you section that’s not very helpful. But once we were live they were pretty quick with reviewing the project. I was pretty happy with. It took three days which I think is a reasonable amount of time. After we were live they were very responsive. I would’ve preferred a little bit more soft blogs instead of big blogs before the project. Because it was the first time I’ve done anything like this so that would’ve been nice.
ZacBob: What is the best tip, or best advice, you can give to any Crowdfunders out there listening?
Jack from Right PSI: You know it varies so much from project to project. I think for any project social media is vitally important. Building an audience before you launch so you have people at launch pledging. Because people will back a successful project. So getting that huge boost up front is huge! I think that is the most important thing that we had. Also setting the goal as low as you can. And still complete the project is a hugely important thing. Because when we say we raised 350% of our goal that sounds super impressive. And when your project is over 200% funded its way easier to get PR when you’re funded and when you’re successful. I think those two things are kind of the big things. So do your research and kind of know what your doing when you get into it.
ZacBob: There you have it Crowdfunders. Jack from Right PSI. So before we end, tell me where can people get their Right PSI after the campaign?
Jack from Right PSI: We have a continuing pre-order section on our website. If you go to RightPSI.com Then click the product right up on the navigation bar. There is a big pre-order today and you got a few options. We decided to shoot people over to our website instead of doing like a backer kit.
ZacBob: And where can people connect with you Jack?
Jack from Right PSI: I’m on all of the social medias. You can go to my website JackZampolin.com There’s nothing on it. Or you can find me on Facebook Jack Zampolin. I am on LinkedIn Jack Zampolin. And I am on Twitter, Jack Zampolin. The nice thing about having a name like Jack Zampolin is you always get your user name everywhere!
ZacBob: Well thank you for coming on the show Jack. The information you shared today is phenomenal and I’m sure my audience is rewinding and jotting down notes. If not, They should be, 350% over your goal is genius.
Jack from Right PSI: Yea Zac thanks for taking the time to chat with me.
ZacBob: Anytime Jack. Well that does it for episode 003. If you get a chance please leave me a 5 star rating on iTunes. I will give you a shout out on the show if you do so. Make sure you check out the website CrowdFundGenius.com and be sure to enter our free Beats by Dre contest by signing up for our email list. Plus you get tons of great crowdfunding advice and tips from me! That’s almost better than beats by dre right lol. Thank you for listening and whatever your doing today remember to start working on your project. As always. Happy Crowdfunding. ZacBob out!
Right PSI Kickstarter (And VIDEO)