Kickstarter vs. Fundable: Part 2
Having just completed our first week of the Fundable campaign it has become clear that there is one word that has the ability to determine success or failure. This word keeps you up at night and drives your mind damn near the point of insanity. Here’s a clue: it’s hard to get, and even harder to keep. Any guesses?
Momentum, momentum, momentum. As I’ve recently learned, momentum comes with the excitement of the launch and it happens early. Not a surprise, right? Then, while you scramble to figure out how to keep it up, it inevitably tapers off. Here’s an example; BottleCamo went from 0-40% funded in the first 4 days, to 66% funded with 58 backers in the first 6 days, then had only 3 backers total in next 2 days. The spigot nearly completely turned off.
The fact that momentum has the ability to shift like this means that, if you are launching a crowdfunding campaign, ongoing public relations and media exposure are going to be incredibly important. You can’t just post your campaign and expect hundreds to come to your support, even if it’s a great product or project.
The good news is that there is a major difference between Kickstarter and Fundable that applies directly to this point; although Kickstarter has more people thumbing through their site on a daily basis, Fundable has an entire media/PR division that’s sole purpose is to get your campaign exposure and funded. Fundable takes the stance that their company is not successful unless the campaigns on their site are successful. This might sound trivial, but let me assure you, it’s quite nice to work with a company that actually practices what they preach. It also helps that they have a pretty significant following through various social media channels and, yes, you have access to them.
With 37 remaining days in the BottleCamo Fundable campaign, it will be interesting to see how the momentum shifts as the upcoming media and PR efforts come to life. More to come as the days pass and the campaign evolves…