YOU WILL LEARN:
- How many team members to run a successful campaign
- What PR & Ad agencies to hire & which ones to not
- Resources used to raise $800K on a Kickstarter campaign
- How to listen to your backers and show them you’re listening
- Which blog posts to read and not read
- 1 Tip that helped their Kickstarter page conversion rate go up as much as 50%
Backers – 3,426
Amount Raised – $832,523
WHO ARE WE INTERVIEWING?
Behrouz, founder of Nora. Begin his professional career as a communication designer building web apps. Since then he went into consulting with helping set up clinics in third world countries. After 6-7 years of consulting Behrouz decided it was time to start creating something of his own….. Nora.
- Behrouz father was the original inventor of Nora.
- Nora was in the making for 15 months from the first prototype to the launch of their Kickstarter campaign.
- Nora works by detecting sounds of snoring and then a small device underneath the pillow will slightly rise the pillow to stop snoring.
- By launching a Kickstarter campaign for Nora, this allowed Behrouz and team to gather data from over 3,000 backers like, the types of bedding people use, understanding the distances and acoustics that people use in their bedrooms.
- By launching a Kickstarter they can now retrieve that information straight from the backers instead of paying for market research
- Behrouz previously showed a demo on their campaign. But mid-campaign backers wanted to see the pillow actually move overnight.
- After releasing this demo their conversion on their Kickstarter page doubled.
- Often being so close to your product you miss small things like the previously mentioned demo above.
- Nora’s Kickstarter campaign took about 3 months to build and plan.
- If you have it, use it! Don’t externalize all the decision making!
- Nora’s team breakdown. 1 PR person, 1 Logistics person, 1 Overall person, 1 Support person. A team of 4.
- Know your market! Nora was originally designed for individuals over 40. Before launching their Kickstarter campaign Behrouz realized that backers are typically younger. Therefore they had to tailor their campaign to match the younger demographic.
- Find Kickstarter campaigns you want to be like. Research the articles written about those campaigns. And create a list of authors and writers and start outreaching.
- Nora already had a $100,000 crowdfunding goal. Simple to say they crushed it.
- Don’t read blog posts and tutorials from people that were running a Kickstarter campaign that is a different product than yours.
- Nora had to create a second early bird because the first early bird sold out so quickly after the launch party. Which lead to a Kickstarter popular project
- 50% of the pledges on the first day came from people they knew.
- Avoid email and pick up the phone.
QUESTION: What is the one thing you wish you knew before launching your Kickstarter campaign?
The one thing I wish I was more familiar with was the level of support and the well-meaning or skepticism you receive from your backers. We were lucky to quickly learn from it and respond. We looked at it as a gift that we received. We want to see a different demonstration, or we want you to explain your product in this or that way. I see some interactions become defensive. And once that happens you close the conversation. In fact, that is the beginning of a long conversation that you’re going to have with your backers before you ship your product. Partly due to our extensive consulting experience, we knew that was the real stuff right? Once somebody is skeptical, and you take the time to understand their perspective. Basically, you found someone that is obsessing about your product as much as you do. That’s the best thing that could ever happen. And those same people who were asking the hard questions; immediately became our biggest advocates as soon as we understood their questions and responded with patience. You’re often sleep deprived and answering a thousand questions coming in. But going forward with a positive attitude and understanding that someone is sitting somewhere and reading something online. They should be skeptical. So they’re actually giving you a chance to improve your messaging and improve your campaign. Take that and go with it.
QUESTION: What is the best tip for crowdfunders looking to launch a successful crowdfunding campaign?
One of the things that we had the benefit of, is having really wise and experienced team members who have done a lot of business outside of the crowdfunding scene. I think something that happens to a lot of campaigns is because we are newer to this. Putting our first few ideas on this platform for all the right reasons. But there is a little bit of aura or mystery of how campaigns succeed and what you should do and who you should engage to make it a successful campaign. I think one of the strengths for us was only make business deals or collaborations that you would do under normal circumstances. There isn’t something supernatural about running a Kickstarter campaign. Only work with PR agencies that you want to work with after the campaign. Work with an advertising agency you want to work with after the campaign as well. Don’t over extend yourself, you will plan your finances before the campaign. But once you’re in the urgency of the number of campaign days ticking down, you will be approached with unreasonable requests. Make sure you look back at your business principals. The best thing that can happen is not put you in a situation where you owe people more money. If you do that miscalculation giving the benefit of the doubt that the future will fix itself. You will end up in a situation where you owe a lot of people a lot of money. It’s maybe better to owe a few people. Don’t go out of your way, don’t change your financial forecast mid-campaign. That’s something we were approached with a lot of unreasonable requests and offers but we managed to stick to principles and go with it.
Hootsuite – Social Media Publishing
Slack – Communication
Trello – Task Management
Google Drive – Cloud
Behrouz Blog Post – Crowdfunding & Raising Money for a Snoring Solution