Have you ever looked at a product and thought, who exactly decided that was a good idea?
I know I have.
Even with the best research, there are no guarantees that a new product will be a success.
Imagine if there was a way to capture that demand, find out if that project is really worth all of that time and effort before investing so heavily into it.
Well, now there is.
You’ve got to love the internet, don’t you? After all, it has given us so much.
Crowd funding sites like Kickstarter allow people and companies to raise money for projects through a rewards-based system.
This is a chance to show project ideas, and then see if people are willing to back it.
The genius part is that you can assess the demand.
Before you’ve even gotten off the ground you have established a community that are committed to your idea and want to see it succeed.
This was the case for one of Kickstarter’s biggest success stories – The Veronica Mars movie.
The TV series was cancelled after only 3 seasons, much to their fans’ dismay. Although there had been talk of a movie, the ‘small’ viewer numbers made this project unattractive.
Within 11 hours, the movie project had reached its goal of $2 million.
The project closed with over 90 thousand backers, and $5.7 million, almost three times their goal.
This movie would not have gotten made without Kickstarter.
The people have spoken.
Demand-driven projects like this are a win-win for both consumers and marketers.
Personally, I’m excited to see the movie. Veronica Mars was one of my favourite shows and it was heartbreaking when it got cancelled in 2007 after only 3 years. This movie feels long overdue.
Let me know in the comments –
- Do you think this is the way of the future for launching new products?
- Would you ever consider using a crowd funding site to get a project up and running? Why or why not?
- Are there any risks or issues that you can see with using this type of funding?
Until next time,