Crowdfunding Campaign

The pooling of small contributions of funds from a group of people for the purpose of making something larger happen.

On Tuesday, April 23, 2013 Waveborn launched a crowdfunding campaign to raise money and generate pre-sales for our summer inventory of shades. The Waveborn team has spent 2.5+ months researching and prepping for this campaign to ensure we are successful. We are sharing all of our research here, so other companies/organizations/groups/teams/individuals can launch successful crowdfunding campaigns of their own. Email Mike McCormick, our crowdfunding expert, if you have any specific questions about the Waveborn campaign or your own campaign.

Indiegogo is an open and global crowdfunding platform where anyone, anywhere can raise money for anything — whether creative, entrepreneurial, or cause-related. We want our community to make theirs and others’ dreams come to life — and therefore, we are committed to giving them every tool possible to do so.

Our friend, Mike Del Ponte, from BC raised $100,000 in 10 days on kickstarter. Read his post on Tim Ferris's blog for a step by step template on creating a successful campaign.

Lessons learned from various sources in no particular order:
45 day campaigns work best
Start the campaign on a Mon-Wed
Finish the campaign on  Thurs-Fri
Set the goal lower than desired to reach it faster
People want to contribute to a winner
Video is the most important component
Allow 2 weeks after campaign is completed to receive the funds
Jonathan and Malloy should star in the film to make it more personal
Need a lot of funds to come in as soon as we launch to start with good momentum
Get pre-launch commitments for at least 33% of the goal
Tipping point is 42%, after you reach that, 95% chance you reach goal
Want to get to 50% within 2 weeks
You can add more perks as the campaign progresses - sometimes leads to repeat backers
Engage contributors with the "update" feature to send email blasts/thank yous/etc.
Study other campaigns with similar products
Study other super successful campaigns
Reach out to other people who have run successful campaigns to get advice
Extra sets of eyes to review your campaign pre-launch are always helpful

We've attached some articles and best practices that you might find useful.
  • Here is a pretty rad step-by-step plan IGG developed to help you optimize your campaign
  • Another sample project plan to help you raise lots of money
  • 7 Ways to Craft a Kickass Crowdfunding Video
In addition, attached please find some resources (including a sample IGG campaigner dashboard), as well as articles and best practices from our campaigner happiness and insights blogs:
  • What Makes a Campaign Successful?
  • Six Key Actions to Take to Raise More Money
  • Sample campaign plan from a former campaign owner
Here are some great campaigns and why:
  • Who Gives a Crap - Inventive campaign that went viral.
  • A Girl Walks Home Alone at Night -- Great perks, updates
  • Robot Dragonfly -- check out the gamification they incorporated through their perks. Worth noting, they had traction before implementing this strategy.
  • Misfit Shine -- Beautiful, well-designed, well-executed campaign. They had their campaign planned to the minute. Reviewed at least 30 campaigns before launching to determine best practices.
  • StickNFind -- much more raw campaign. Spent little on the development, but worked his but off promoting it to press. Also, incorporated gamification through the updates.
  • 50 for 50 -- A passionate leader can take you a long way/ great updates
  • The Can Van -- A little cheeky, but this was my company's campaign

Top 12 Campaigns:
Top 12 Campaigns of 2012
Top 12 Pitch Videos of 2012
Top 12 Insights of 2012
Top 12 Perks of 2012
Top 12 Entrepreneurial Campaigns of 2012
Top 12 Creative Campaigns of 2012
Top 12 Cause-Related Campaigns of 2012
Top 12 Gadget Campaigns of 2012
Top 12 Film Campaigns of 2012
Top 12 Community Campaigns of 2012
Top 12 Music Campaigns of 2012
Top 12 Gaming Campaigns of 2012

Relevant Links:

Sample Campaigns: (failure)
Mike Malloy,
Apr 19, 2013, 3:52 PM
Mike Malloy,
Apr 19, 2013, 7:18 AM
Mike Malloy,
Apr 19, 2013, 7:19 AM
Mike Malloy,
Apr 19, 2013, 7:19 AM
Mike Malloy,
Apr 19, 2013, 7:20 AM