You might have heard the common adage “if you fail to plan, you plan to fail.” If you’re starting a company, this rings especially true.
Whether you’re building software or a physical product, there are a lot of strategies to take into consideration, especially if you’re crowdsourcing funding.
If you’re planning on fundraising on Kickstarter, take a look at BiggerCake.
Created by Tross, a crowdfunding data and consulting firm, BiggerCake allows you to take a deep dive into the analytics behind a variety of Kickstarter campaigns.
(Author’s note: we normally don’t write about companies using Kickstarter because scams are rampant, but we know Kickstarter has been a useful tool for a lot of companies.)
So here’s how BiggerCake works. Campaigns are separated into categories by industry, like art, design, journalism, and technology. From there, you can see within each category like most funded, most backers, and highest average pledge:
Let’s take Salsa for example, a photobooth built to help you make money — it’s already raised over 817% of its goal and almost $250k.
You can see the data behind the backers and pledges from a daily and hourly standpoint, as well as a favorite feature of mine: the ability to view average funding per day and average funding pace, since you don’t want to end your campaign too early.
Don’t be an idiot: always look at the data. Seriously though, if you’re planning on using crowdfunding to finance any of your company, please take some time to look through this resource.
It’s an easy way to learn from other makers’ successes and failures from objective, data-based standpoints. And you know how we love some good data.
Besides the funding pace and average pledge, take a look at common themes among the most successful Kickstarter campaigns on BiggerCake, and ask yourself some of these questions:
-What time is best to release my campaign?
-Is there a common thread among the copy or graphics/videos?
-What are the most successful incentives?
-How can I emulate the best campaigns?
The best part? It’s free. And after taking a look at the ToS, it doesn’t look like there are any big catches, so take advantage of this free resource while you can.