My $125M Kickstarter Campaign Strategy (beginner tutorial)

LaunchBoom
12 Mar 202413:39
EducationalLearning
32 Likes 10 Comments

TLDRThis video script reveals a marketing strategy that has helped creators raise over $125 million on Kickstarter, highlighting the platform's unique benefits over traditional product launches. It emphasizes the importance of a pre-launch email list, online advertising, PR and influencer marketing, and leveraging the Kickstarter platform itself as the 'Four Horsemen of Traffic.' The speaker shares success stories and offers a step-by-step guide on building a reservation funnel to create 'Super Fans,' ultimately leading to a successful crowdfunding campaign.

Takeaways
  • 💡 Nearly 60% of Kickstarter campaigns fail due to poor marketing strategies, but a well-executed strategy can lead to significant success.
  • 🏆 Successful campaigns like those of Simon and Kelvin demonstrate that following a proven marketing strategy can turn a failed launch into a successful one.
  • 📈 Kickstarter is a powerful platform for launching products with unique benefits: needing only a prototype, pre-selling products, validating market demand, and using pre-sale revenue for manufacturing.
  • 🚀 The success of a Kickstarter campaign hinges on four main traffic sources, known as the 'Four Horsemen': pre-launch email list, online advertising, PR and influencer marketing, and the crowdfunding platform itself.
  • 📧 A strong pre-launch email list can lead to immediate funding success, as seen with the board game Botney, which raised over $105,000 in its first day.
  • 📰 PR and influencer marketing can provide bursts of sales, contributing significantly to a campaign's overall revenue.
  • 🌐 Online advertising builds on pre-launch momentum and can drive consistent daily sales throughout the campaign.
  • 👥 Understanding and targeting your 'Super Fan' is crucial for effective marketing and helps in creating tailored ads and offers.
  • 💰 A reservation funnel, which collects both email addresses and $1 reservations, is more effective than traditional funnels, increasing the likelihood of backers by 30 times.
  • 📊 Using Facebook (Meta) ads strategically during the pre-launch phase is key to building a list of potential backers and ensuring a successful campaign launch.
Q & A

  • What is the main focus of the video script?

    -The video script focuses on teaching a marketing strategy for Kickstarter campaigns, emphasizing the importance of the right strategy for success and sharing examples of creators who have raised significant funds using this strategy.

  • Why do many Kickstarter campaigns fail according to the script?

    -The script suggests that nearly 60% of Kickstarter campaigns fail because they do not use the correct marketing strategy.

  • What is the success story of Simon's product 'Midr Num' as mentioned in the script?

    -Simon initially failed in his Kickstarter launch for 'Midr Num', but after following the presented marketing strategy, he relaunched and made $159,000.

  • What was Kelvin's experience with launching the 'Oku Desk' before learning the new tactics?

    -Kelvin initially failed in his attempt to launch the 'Oku Desk' on Kickstarter due to the wrong strategy. After learning the tactics shared in the script, he achieved success.

  • What are the four unique benefits of launching a product on Kickstarter mentioned in the script?

    -The four benefits are: 1) You only need a prototype to launch. 2) You can pre-sell your product and get real revenue. 3) You can validate market demand for your product. 4) You can use pre-sale revenue to manufacture your product with confidence.

  • How does the script describe the role of a pre-launch email list in a Kickstarter campaign?

    -The script describes the pre-launch email list as the first of the 'Four Horsemen of traffic', which is crucial for driving initial funding and momentum for the campaign.

  • What is the significance of the 'reservation funnel' in the pre-launch phase?

    -The reservation funnel is a method to collect email addresses and $1 reservations during the pre-launch, which helps in identifying potential backers who are more likely to support the campaign.

  • Why are the 'Four Horsemen of traffic' important for a Kickstarter campaign?

    -The 'Four Horsemen of traffic'—pre-launch email list, online advertising, PR and influencer marketing, and the crowdfunding platform itself—are the main sources of traffic that drive nearly 100% of the funding for a Kickstarter campaign.

  • What is the role of online advertising in the script's marketing strategy?

    -Online advertising, particularly through platforms like Facebook ads, is highlighted as a key component to build momentum after the pre-launch email list and to drive consistent sales throughout the campaign.

  • What is the script's advice on targeting the right audience for meta ads?

    -The script advises using the concept of the 'Super Fan' to identify interests and create targeted audiences for meta ads, ensuring that the ads reach people who are most likely to be interested in the product.

  • How does the script define the 'Super Fan' and its importance in marketing?

    -The 'Super Fan' is a fictional representation of the ideal customer for the product, complete with interests, preferences, and behaviors. Understanding the 'Super Fan' is crucial for effectively targeting marketing efforts and ads.

  • What is the significance of the $1 reservation in the reservation funnel strategy?

    -The $1 reservation serves as a commitment from potential backers, making them 30 times more likely to support the campaign on Kickstarter compared to those who only provide their email address.

  • What is the script's final call to action for viewers interested in launching their own product?

    -The script encourages viewers to connect with the team by clicking the link in the video or description to get help with their product launch, emphasizing the importance of understanding how to drive traffic with Facebook ads.

Outlines
00:00
🚀 The Power of the Right Marketing Strategy on Kickstarter

This paragraph introduces a unique marketing strategy that has been instrumental in raising over $125 million on Kickstarter. It emphasizes the high failure rate of Kickstarter campaigns due to incorrect marketing approaches. The speaker shares success stories of Simon and Kelvin, who turned their failed campaigns into successes by adopting the right strategy. The paragraph also mentions the 'Four Horsemen of Traffic' as key drivers of sales and hints at revealing these sources later in the video. Additionally, it outlines the benefits of launching on Kickstarter compared to traditional startup launches, such as needing only a prototype, pre-selling for revenue, market validation, and using pre-sale revenue for production.

05:03
🌐 The Four Main Sources of Kickstarter Traffic

The second paragraph delves into the concept of the 'Four Horsemen of Traffic,' which are identified as the primary sources of funding for Kickstarter campaigns. It tells the story of Dusty and Amy, first-time creators who raised over a million dollars for their board game 'Botney,' highlighting the effectiveness of a pre-launch email list in achieving rapid funding. The paragraph also discusses the role of online advertising in sustaining campaign momentum, the impact of PR and influencer marketing in driving revenue in bursts, and the importance of the Kickstarter platform itself in attracting visitors and potential backers.

10:05
🛠️ Mastering the Pre-Launch: Strategies for Kickstarter Success

The final paragraph focuses on the importance of the pre-launch phase in ensuring a successful Kickstarter campaign. It outlines three main components of the pre-launch: identifying the 'Super Fan' to understand the target audience, utilizing a 'reservation funnel' to collect email addresses and $1 reservations, and leveraging meta ads to drive traffic to the reservation funnel. The speaker illustrates the effectiveness of these strategies with the example of Tyler Bushnell, who raised over $1 million within 24 hours of launching his campaign by following the 'Launch Boom System.' The paragraph concludes by emphasizing the significance of understanding how to drive traffic with Facebook ads for a successful launch.

Mindmap
Keywords
💡Marketing Strategy
A marketing strategy is a comprehensive plan that outlines how a business will reach its target audience and achieve its goals. In the context of the video, the speaker discusses a specific marketing strategy used to help creators raise over $125 million on Kickstarter, emphasizing its importance for the success of crowdfunding campaigns.
💡Kickstarter
Kickstarter is a crowdfunding platform where creators can launch projects to raise funds for their ideas. The video highlights Kickstarter as a preferred platform for launching products due to its unique benefits, such as requiring only a prototype and allowing pre-sales, which validate market demand and reduce risk.
💡Prototype
A prototype is an early sample or model of a product that is built to test concepts and functionality. The video mentions that for a Kickstarter launch, creators only need a functional prototype to begin their campaign, which is less capital-intensive than producing full inventory.
💡Pre-sell
Pre-selling involves selling a product before it is manufactured or available, allowing creators to gauge interest and secure funds for production. The script describes how Kickstarter enables creators to pre-sell their products, which is one of the platform's key advantages.
💡Validation
Validation in a business context refers to confirming the viability or potential success of a product or idea. The video script explains that Kickstarter provides a way to validate market demand for a product by achieving sales before the actual production begins.
💡Indiegogo
Indiegogo is another crowdfunding platform similar to Kickstarter, where creators can raise funds for their projects. The speaker mentions their team's experience in helping creators raise funds through both Kickstarter and Indiegogo.
💡Traffic Sources
Traffic sources are the channels through which visitors arrive at a website or campaign page. The video introduces the 'Four Horsemen of Traffic' as the main sources of traffic for Kickstarter campaigns, which are crucial for driving sales and funding.
💡Email List
An email list is a collection of contacts that can be used to send out communications, such as newsletters or promotional materials. The script emphasizes the importance of building a pre-launch email list for Kickstarter campaigns, as it can lead to rapid funding post-launch.
💡Online Advertising
Online advertising refers to various forms of marketing and advertising that use the internet to reach potential customers. The video mentions online advertising as one of the 'Four Horsemen' that can drive consistent sales throughout a Kickstarter campaign.
💡PR and Influencer Marketing
Public relations (PR) and influencer marketing involve promoting a product or service through media coverage and endorsements by influencers, respectively. The script describes how PR and influencer marketing can bring significant attention and revenue to a Kickstarter campaign.
💡Crowdfunding Platform
A crowdfunding platform is an online service that facilitates the raising of funds for a project or business venture. The video explains that Kickstarter itself is a significant traffic source, as it has millions of monthly visitors looking for new products to back.
💡Reservation Funnel
A reservation funnel is a marketing strategy that involves collecting email addresses and securing $1 reservations during the pre-launch phase. The script illustrates how this method is more effective than traditional funnels, as it identifies potential backers who are more likely to contribute to the campaign.
💡Meta Ads
Meta Ads refers to advertising on platforms owned by Meta, such as Facebook. The video discusses the importance of using Meta Ads to drive traffic to the reservation funnel, highlighting it as a primary method for attracting potential backers.
💡Super Fan
A 'Super Fan' is an ideal customer or enthusiast who is highly engaged with a brand or product. The script suggests creating a persona for the Super Fan to understand the target audience better and tailor marketing efforts accordingly.
Highlights

A rarely used marketing strategy has helped creators raise over $125 million on Kickstarter.

Nearly 60% of Kickstarter campaigns fail due to incorrect marketing strategies.

Simon's product 'midr num' failed initially but succeeded after following the right strategy, making $159,000.

Kelvin's 'oku desk' also experienced failure before adopting the correct tactics, leading to success.

The speaker's team at Launch Boom has a decade of experience in Kickstarter and Indiegogo campaigns.

Four unique benefits of Kickstarter include needing only a prototype, pre-selling products, validating market demand, and using pre-sale revenue for manufacturing.

Kickstarter creators are four times more successful than normal startups.

The story of Dusty and Amy, first-time creators who raised over a million dollars for their board game 'botney'.

The 'Four Horsemen of Traffic' are the main sources of traffic to a Kickstarter page, driving nearly 100% of the funding.

Horseman one is the pre-launch email list, which can lead to rapid funding success as seen with Dusty and Amy.

Horseman two is online advertising, which builds on the momentum of the pre-launch email list and can drive significant sales.

Horseman three is PR and influencer marketing, which can bring in bursts of revenue and attention.

Horseman four is the crowdfunding platform itself, which can drive a large portion of funding if other traffic sources are utilized.

The importance of the pre-launch phase in ensuring a successful Kickstarter campaign.

Creating a 'Super Fan' profile to understand and target the ideal customer for marketing efforts.

The 'reservation funnel' strategy, collecting $1 reservations during the pre-launch to gauge interest and secure future backers.

Using meta ads to drive traffic to the reservation funnel, targeting audiences based on the 'Super Fan' profile.

The success story of Tyler Bushnell, who raised over $1 million in 24 hours on Kickstarter using the Launch Boom system.

The emphasis on understanding how to drive traffic with Facebook ads for a successful Kickstarter launch.

Transcripts

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