Hacking Kickstarter: How to Raise $100k in 10 Days
Tim Ferriss, author of The-4-Hour-Workweek, made a detailed and great guide for being successful on Kickstarter and getting the money you need to start a startup.
If you face the obstacles like most of entrepreneurs “I don´t have the money to even get started” and “What if it fails?” – you need to read the full article which includes templates, E-mails and a lot of inspiring and helpful ideas!
This article is great for entrepreneurs who are interested in raising money, for people who are interested in crowdfunding and also for people who are interested in a great social media marketing campain!
Tim Ferriss uses Mikel Del Ponte, inventor of Soma – a high end competitor to Brita water filters – as a successful example.
He launched Soma on Kickstarter and raised over $100.000 in just nine days using exactly these templates, E-mails and strategy/ guideline.
Ferriss´ 9 steps:
Step1: Start with principles that require less work and yield better results
Start with a Minimum Effective Dose – it´s the smallest input needed to produce a desired outcome. Outsource and automate – These two steps allow us to get results by delegating tasks and setting up automated systems so we can focus our energy on more valuable projects. Ferriss strongly recommends using virtual assistants. Prep and pick up – we should do most of the work and adminstration in advance before starting our campain.
Step2: Find the MED for Kickstarter traffic
We need to drive a lot of traffic to our project. To find out where we get the most traffic from Ferriss recommends using Bit.ly as a tracking tool. They found out that the most traffic came from 1. Facebook, 2. Direct traffic via email, 3. Twitter, 4. Kickstarter and 5. blogs.
Based on this data, they decided to focus all of their attention on just two goals:
- Getting coverage on the right blogs
- Activating our networks to create buzz on Facebook, Twitter, and email
Step3: Use the 80/20 rule to foxus on the best media targets
The 80/20 rule teaches us that 20% of stories will yield 80% of our press results. Therefore, when making our media list, these are the four things to look for:
- Relevance – will their readers LOVE your project?
- Readership – how much traffic does their site get?
- Relationships – do you know at least one person who can make a strong introduction?
- Reach – will the blog reach prospective backers by promoting your post via email newsletter, RSS feed, Facebook, Twitter, and other channels? [TIM: This is the most neglected checkbox. Blogs that expect you to drive all traffic to their posts are a waste of time. Remember: big site-wide traffic does not mean each post gets much (or any) traffic.]
5 step process for making the world´s greatest media list:
- Find relevant bloggers using Google images
- Reach site traffic on compete.com
- Identify relationships on Facebook
- Discover each blog´s reach on email, social media and RSS
- Review your media list and turn it into a dossier fit for a Seal Team 6 secret mission
Step4: Turn bloggers into buddies
The key is to genuinely form friendships with bloggers. They get pitched every day by strangers who don’t care about them and only want publicity. Do the exact opposite. Really care about them. Figure out ways to be helpful.
Step5: Get the story and make specific requests to maximize your reach
Once we connect with a blogger, we should make it as easy as possible for them to write a story about us. We have to give them information (even though most of the information can be found on Kickstarter anyway) and pictures bloggers would need to make a story about us and our product easily.
Step6: Segment and activate your network
Involve friends! Asking friends for advice, ask for feedback, offer sneak peaks, throw a launch party. Friends can introduce us to bloggers, promote the product to their personal network, do word of mouth and so on. Friends are a powerful tool for pushing a project.
Step7: Use landing pages to spark sharing
Use landing page to make it easy for visitores to like or share your project. We have to maximize sharing on social media.
These landing pages were critical when it came to creating the surround sound effect. We know because every time we launched one, we got flooded with texts and emails saying, “Dude! I’m seeing you guys everywhere. Congrats!” When you get a lot of people sharing the same link on Facebook, it’s displayed to more people, who share it with even more people, and you get this virtuous viral burst that keeps growing.
Ferriss offers a free download for an opensource code for his landing page as well.All in all besides his recommended tools and templates to create a successful Kickstarter campain, you can use his strategies and idea in many ways. I think some of his ideas are essential to push different projects on social media. That´s why I strongly recommend reading his full article. I just put a quick overview of his article together – without his examples and details.