Crowdfund Genius Live 1.8 Crowdfunding Q&A

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Q1: How much will it cost to hire someone to run my Kickstarter campaign?

A: It gets quite pricey! First I recommend that you try it yourself the very first time. It’s free! It’s not going to cost you very much. You may feel a little bit of shame if you fail or something along those lines but you never know. You might hit it out of the ballpark your very first time. If you do the work, do the research, do the studying, If you listen to this show; you’re doing it already. if you listen to this podcast. that’s another forum. There’s other podcast out there. There’s tons of podcast out there. I recommend you do it yourself. Now if you try it and it’s not successful, or if you get into it and you feel it’s too much for you then you go look for a consultant or a campaign manager to run your crowdfunding campaign. It’s not going to be cheap. Why is that you say? If you do that you have to realize that they are launching a business for you. They are launching a Public Relations, Media Relations, and getting the outreach you need for your campaign. They will be designing your marketing plan and running your marketing plan. Their completely building a business and it doesn’t happen overnight. Crowdfunding campaigns are not designed for you to just go out and hire a consultant that can run your campaign within two weeks time period prior to launching a campaign. If they can run it in two weeks then one: Let me know who that is because that’s amazing and two: It’s probably not going to be that good of a job since it was thrown together last minute. Nobody is going to work on your campaign as hard as you. That’s why we do these shows. That’s why we have this content. Yes we manage campaigns but we also want you to try it yourself. If you do it yourself it’s just that much more fulfilling. Now far as the actual cost it varies. It depends on how much you have your stuff together. It depends if you have an email list, a following, social media channels already set up, and if you don’t it can get up there in price. It can be as much as 50 percent of your net funds and if you want to give away 50 percent of your net funds than by all means contact a crowdfunding consultant. Now I’ve seen averages that are lower around the 20 percent margin of your net funds but that’s still a lot to be losing when your running your campaign. This is your idea and this is your baby. Again 3rd time, nobody is going to work as hard on your crowdfunding campaign as hard as you will.

 

Q2: Is there a website designated to selling your Kickstarter product after it gets funded?

A: There are websites out there! One that comes to my mind is www.tinylightbulbs.com. Check them out on Instagram as well. That’s one store. There’s a few other stores just like them but at the same time if this is a long term plan and your planning on building this business yourself you should probably throw up your own website and use a plug in like Woothemes or Paypal to start accepting those pre-orders because your campaign is finished. You’ve already been funded and it’s going to be a while before you get to those new order you’re going to be getting. Let them know and be transparent. Let them know in advance hey I’m going to pre-order this now but we have to fulfill to our Kickstarter backers first. That’s probably what you should be doing. You’re Kickstarter backers were there from the start. It should probably be a little bit more after your Crowdfunding campaign. Maybe your raise that price by 10, 15, 20 bucks. It’s completely up to you. I highly recommend you start your own website because of branding. It’s your business and you’re doing it yourself. You’re starting to grow it. Another option is Indiegogo. I’ve seen Kickstarter creators jump over to Indiegogo after their campaign has been funded because Indiegogo will allow you to continue on selling after your campaign has ended. So that’s another avenue you might want to try.

 

Q3: When is the best day to launch your Kickstarter campaign?

A: First off stay away from trying to launch your campaign around the holidays times. Namely around Halloween, Thanksgiving, and Christmas time. Many people are around their homes away from their computers or spending there money else where and not backing campaigns all together. They are saving money for gifts, food, Christmas trees, lights, ornaments, decorations, odds and ends, etc. Christmas time is a very rough time to try and run a crowdfunding campaign. If you were trying to run a campaign around that time I would recommend that you put it off until January or February instead so you can avoid the main holiday time frame all together. Now far as best day; I’ve seen people launch on all types of days for various reasons or another. Maybe it was the first day they launched their business or it was the anniversary of their businesses conception. As for my best advice I can give anyone. I would avoid trying to launch your campaign on a Friday at all cost. You’re going to be trying to reach out to media. You’re going to be trying to get publications. You will be asking for exclusives letting them know that your campaign is live and asking them if they will cover you now. Chances are if it’s a Friday they’ll be extremely busy or they won’t have enough time to hit their time line with their editor with other things they might be already working on. They will more than likely be bogged down already. On top of that it’s Friday! TGIF! Everybody wants to get out of there on Friday! They won’t want to go in depth and do the research that is required for a brand new article in respects to your campaign or product. Most people will already have their articles into their editors already and they’ll put you on the back burner. Their mindset is most likely else where thinking of what they are going to do on the weekend. Same thing goes for Saturday and Sunday. It’s the weekend! Football is on ( GO RAIDERS ). There’s just so many distractions when it comes to trying to launch on the weekend. So with that said we’ve marked off Friday, Saturday, and Sunday as bad days to try and launch a campaign. So you would think that Monday would be the ideal day to try and launch your campaign! WRONG!! Everybody is just getting back to work and those same bloggers and editors that you’re trying to get a hold of are going to be trying to get caught up with their emails from other campaigns such as yourself or other individuals who are trying to get an article written about their ideas or business as well. So this leaves us with Tuesday, Wednesday, or Thursday as being the best days to launch your campaign (Tuesday being the best day to launch). Tuesday or Wednesday are the preferred days to launch a campaign with Thursday being the 3rd option. I would still try to avoid launching on a Thursday as well because the bloggers or editors might be bogged down again with Tuesday and Wednesdays workload and they might try and put it off until Friday and then it gets pushed back to the following week if they are too busy to work on it come Friday morning. So there you go! You’re best bet is to launch on a Tuesday or a Wednesday. Those are the universal days to launching campaigns.

 

So to all of my viewers and all of my fans I’m going to leave you with a question. What is the most recent blog post or most recent article that you’ve read in regards to Kickstarter, Indiegogo, or Crowdfunding that you’ve found interesting or extremely helpful? Make sure you post it down in the comment section of your Youtube channel. I’m going to post the most recent article that I’ve found on Crowdfunding that I’ve found some use out of or actionable advice. I’m going to put that down in the comments section. Make sure you check out the comments section. Check out the articles I’m reading and let me know the articles that you are reading. Remember ask us questions on Twitter @Crowdfundgenius! CANADA!!!! (Let’s go Quebec). We’ll continue to answer your questions on our show! Happy Crowdfunding! ZacBob out!