Alicia Kan | SEO-driven content | Marketing

The Anatomy Of A Successful Crowdfunding Campaign

With crowdfunding transaction values expected to hit $1.04 billion in 2018, it’s tempting to think that with a bit of elbow grease and a lot of social buzz that any entrepreneur could have a slice of that enormous pie.

There are reams of information on how to create a successful crowdfunding campaign, how to pick the best crowdfunding platform and the most successful crowdfunding projects. They’re packed with detail and offer so much great advice that you don’t need another blog post regurgitating what was said.

You may, however, want to take a closer look at a current (2018) case study of a campaign that worked. This campaign is Wado, a line of sustainable sneakers created by a trio of Barcelona-based entrepreneurs. The Kickstarter campaign goal in March was to raise 11,000 euros or about $13,500. Instead the campaign raised 363,761 euros or nearly $447,000.

A lot of what the Wado team did will reiterate the points raised in this excellent piece by seasoned crowdfunder Khierstyn Ross. In fact if there is only one article about crowdfunding that you are willing to read, by all means choose hers because a) it’s grounded in experience and b) it doesn’t sugar coat.

I discovered the the Wado campaign not on Kickstarter, which I seldom visit, but through the daily email sent by Inside Hook. First lesson of successful crowdfunders:

The imagery was flawless

‘Pictures are worth a billion pixels.’ That’s the money quote from a Thrillist story about how Netflix’s new algorithm was serving up images based on viewer behavior and preferences. The entertainment behemoth’s research showed that artwork made up 82% of a viewer’s focus when scrolling through choices to watch.

The same principle applies to crowdfunding platforms where there are lots of distractions. Quality visuals elevate campaigns from the noise. Analyses of the most successful crowdfunding campaigns show that they all had compelling imagery in common. A UK study of Kickstarter campaigns found that a project with a video was 85% more likely to be funded.

Wado had shot after shot of the shoes, all beautifully taken, with or without models. It also had photographs of the founders, the factory, the shoes in production. There was video of the founders and video of the shoes. In short, there was no shortage of eye candy to tempt and convince. On the Inside Hook email, Wado’s imagery made me click through to their Kickstarter campaign.

They used other media, not just social

The Wado team had obviously diversified its marketing portfolio to spread the word through sites like Inside Hook which has a significant audience. It’s interesting to note that the media coverage spanned the globe, with articles in French, German and Dutch.

In her piece, Ross said having a social media strategy was fine, just don’t rely on it completely. ‘While having thousands of Twitter followers and likes on your Facebook page is great for social proof, it will not move the needle the way you need it to.’

She champions a good, not purchased, email list in getting much-needed traction during the crucial first few days of a crowdfunding campaign. It’s likely Wado’s email list played a part in achieving the next point:

The campaign reached 92% of its goal in less than 24 hours

Ross says it’s essential that a campaign raises 30-40% of its funding goal in the first three days for it to be picked up by Kickstarter or Indiegogo’s ‘popularity algorithm’. A hot campaign will be picked up and featured prominently on the site, where it will be enthusiastically funded by more people. Success breeds success.

On Kickstarter, Wado’s campaign was featured on ‘Projects We Love’, a popular section of the crowdfunding site, halfway through the campaign. On Indiegogo, where Wado was 3,307% funded on March 31st, the campaign lives on in Indiegogo’s InDemand while also being featured on the first page of the Fashion & Wearables category.

Wado on Indiegogo

There was an element of gamification

To entice donors to spread the word and maybe even purchase another pair, the team created stretch goals during the campaign:

  • If funding reached 25,000 euros (a little over $30,000), one more color choice would be added, with followers empowered to pick from three variants. The goal was reached in three days and the winning color, beige, was unlocked.
  • If funding reached 250,000 euros (approximately $307,000 and change), the team would throw in a cotton drawstring shoe bag for every pair. As the campaign surpassed this target, the shoe bag is now a certainty.

All throughout, the team posted updates on Kickstarter in addition to email updates, keeping the shoes very top-of-mind for funders and increasing the likelihood of them amplifying the campaign. This note, for example, was meant to clarify shoe sizes but a link was included for recipients to share on Facebook. Who hasn’t gone onto social media to crow about his or her latest find?

Wado sneaker email for funders

The timing was impeccable

Timing is critical in a campaign’s success — you want to catch your funders when they’re most in the mood to open their wallets. And the Wado team, whether by design or accident, couldn’t have chosen a better time to launch a retro-inspired sneaker.

Sneaker sales have been soaring, thanks to the athleisure trend. According to the NPD Group in 2017, lifestyle running shoes grew more than 40 per cent in the third quarter alone. All major, mid-market and mass fashion brands have launched their own versions of sneakers. The best proof yet that sneakers are hot? Gucci’s current cult footwear is not its signature loafers but its Stan Smith-like Ace sneaker.

Wado is also tapping into the current zeitgeist for retro footwear. There’s been a general wave of nostalgia for the 70s and 80s which hasn’t crested yet. You can see it in the popularity of Netflix’s Stranger Things, the re-emergence of bowl haircuts and scrunchies, and a renewed fervor for vinyl and mixed tapes.

Sustainability was a key message

Mindless consumption brings on the guilt, but conscious capitalism makes shoppers feel virtuous. In all of Wado’s material, sustainability was as important a message as the retro inspiration:

  • Every purchase of a pair means two trees planted in northeastern India
  • Wado sneakers are constructed from chromium-free leather
  • Manufacturing is done in Portugal; no sweatshop labor in Asia

The Wado team even adopted a hashtag, #playgreen.

The takeaway from all this? It may not seem obvious but there had been months of preparation behind the scenes before Wado surfaced on Kickstarter, something to remember if you are ever in the mind to crowdfund your next big idea.

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The Little Black Dress And 9 Other Innovations Credited To Coco Chanel

August 19 marks the 135th birthday of Coco Chanel, the milliner-turned-fashion designer whose style ethos remains uncannily modern year after year.

Everyone is familiar with Chanel, the brand, but not everyone knows that the house’s founder was behind some of the 20th century’s most iconic classics. Below are just 10 of these innovations credited to Coco Chanel.

1. Dropwaist dresses

Marion Morehouse

A Chanel-clad Marion Morehouse, the third wife of poet e.e. cummings, photographed by Edward Steichen in 1926. She was said to be the first true supermodel.

At the turn of the 20th century, women’s fashion was both ornate and uncomfortable. Hats were enormous, embellished with flowers, feathers and gauze. A stylish silhouette meant corsets maids had to lace one into, whaleboned bodices and triple-strapped pointed shoes that could only be fastened with a button hook. Walking was a struggle with yards of fabric getting entangled in legs.

In 1916, Chanel debuted a new silhouette that was positively rebellious. Her dresses were shorter, revealing a woman’s ankles, and had no waists. Instead, there was a scarf or belt that was loosely tied at the hips, making corsets obsolete and allowing women to breathe free.

Chanel reportedly said ‘I gave women’s bodies their freedom back’, but ironically the dropwaist dress gave rise to a different, equally tyrannical species of shapewear. Breast-binding bras came into vogue as women tried to achieve the sleek, lithe profile necessary to carry off the ‘charming chemise’, as American fashion editors called it.

2. Bobbed hair

Chanel's bobbed hair through the years

Chanel sported a bob pretty much throughout her life. Photos from Chanel and Her World by Edmonde Charles-Roux and A Matter of Style by Valeria Manferto de Fabianis.

In 1917, Chanel adopted the polarizing haircut that took the female world by storm when Irene Castle had her hair shorn. Bobbed hair was a radical departure from the long tresses of yore. It was frowned upon by the older generation, who assumed that women with bobbed hair were ‘fast’ and disreputable. Flappers took to it as they took to the drop waist dress, driving and smoking.

Chanel stuck to her signature hair style throughout her life, accenting it with head gear like cloche hats, berets and ribbons. A bob was liberating, modern and a very visual break from the past, themes that were consistently reflected in Chanel’s fashions.

3. Trousers for women

Coco Chanel 1929

Coco Chanel and her friend, opera singer Marthe Davelli in trousers, circa 1929. Photo from Chanel and Her World by Edmonde Charles-Roux.

If bobs were polarizing, women wearing pants was an outrage in Chanel’s younger years.

As early as 1912, Chanel was wearing jodhpurs that she had borrowed from a groom and copied by a tailor. At that time, women who rode horses did so wearing their long hair fully coiffed under a top hat, clad in society-approved apron skirts that concealed breeches. They also rode side saddle, as befitted ladies of good breeding.

Chanel had started wearing sailor’s pants in Deauville, where she opened a boutique in 1913, as a modest alternative to the cumbersome swimwear of the Edwardian era. At the cusp of the 1930s, Chanel introduced trousers for women that were loose and elegant, yachting pants as they were soon to be known.

4. The little black dress

Chanel little black dresses

The little black dress that started it all in 1926 and Chanel working on its reincarnation in the 1950s. Left photo via Chanel and Her World by Edmonde Charles-Roux and right photo from A Matter of Style by Valeria Manferto de Fabianis.

Arguably the most famous little black dress would be Audrey Hepburn’s Givenchy sheath in Breakfast at Tiffany’s. The distinction of creating the little black dress in the first place though, belongs to Coco Chanel.

The illustrated black dress on the left was featured in Vogue’s American edition in 1926. The magazine predicted that this sheath of crepe de