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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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Going For Woke: How Brand Activism is the New Path to Profit

‘These creatives are trying to make their toilet paper save the world.’
 
So opined fellow creative Rob Baiocco of BAM Connection, who was wryly commenting in a Guardian article about marketers’ new pursuit of social justice cred.
 
Is endowing the most banal of products with meaning as ludicrous as one would think? In October 2017, because the subject intrigued me as a marketer, I conducted my own research using SurveyMonkey.
 
The findings showed that, increasingly, consumers choose brands that are aligned with their values and shed those they perceive as a mismatch.

Use This Handy Asset Checklist For Branding or Rebranding

The exciting thing about branding is starting a new identity from scratch. In the case of rebranding, it’s giving something old and tired a new lease on life.

What’s not quite as fun are the million-and-one fiddly details that go into the exercise.

Stuff like:

  • Are the design team and me talking about the same thing? Like, is a stacked logo a square logo?
  • Are we covering all the items we truly need? Are we forgetting some that are actually important or, conversely, overdoing it and thereby incurring more expense?
  • Are we all on the same page about approval circuits and building in approval time before launch?

There are many excellent and free branding brief templates to furnish your agency or designer, such as this one from FreshSparks. What’s not so common is a laundry list of all the assets that should be covered by the process. A list sets the foundation for budgeting, timing and organizing. A list grounds you.

So here’s my version that I’ve used several times, from rebranding a 44-country international firm to creating a brand new identity for a digital agency. You can download it as a Word doc as well.

It’s a rare case where all items on this list will be checked off. B2B companies would require more of the digital templates while an e-commerce outfit would need a fuller range of ad formats. Feel free to adjust as necessary.

Logo/brand mark

Tesla logo guidelines

Tesla’s brand guidelines specify the amount of clear space required around the brand mark, as well as where it should appear. For example, the logo should never be placed on a highly patterned background or photograph is

  • Landscape
  • Portrait
  • Square/stacked
  • Black and white
  • Reverse
  • Favicon

Files should be in as many formats as possible: JPG, PNG, EPS, AI. Include sizes that can be used for larger formats such as outdoor signage and as small as a favicon. The wide range of measurements will test the skill of your designer, as the brand mark has to look good at 16px (a favicon’s size) as it would wrapped around the side of a building.

Fonts

Beats By Dre typography example

Beats By Dre’s typography embodies its brand: Solid and contemporary, almost masculine.

  • Serif
  • Sans serif

A normal number of fonts to start with would be two, a serif and a sans serif that complement each other. Depending on the brand’s needs, you may also want to commission a script or another distinct font for headlines.

Exercise good sense in choosing fonts. The more fanciful or rare ones require a license which can be cost-prohibitive when purchasing it for multiple users.

In addition, clients who do not have these fonts in their systems will find that any documents you sent them have defaulted to Times New Roman or Arial, not to mention the formatting has all gone off. Remember that Google Fonts are good looking and free!

Color palette

AirBnb color palette

AirBnB’s color palette has 9 shades but 6 shades is a good number to start with.

  • Dominant color 1
  • Dominant color 2
  • Accent color 1
  • Accent color 2
  • Accent color 3
  • Accent color 4

Picking brand colors must be one of the most enjoyable parts of a brand exercise. If you want to play around with colors yourself, have a go using these tools.

Digital templates

Future Prospect Powerpoint template

From cover slide to bullet styles, your PowerPoint presentation should be consistent with your brand. Future Prospect PowerPoint template by Jumsoft.

  • Letterhead
  • PowerPoint or Keynote presentation
  • PowerPoint or Keynote charts – Pie, bar, stacked bar, line, etc.
  • Infographic
  • Icons
  • One-page brochure
  • White paper
  • Invoice
  • Receipt
  • Email signature
  • House ads – Leaderboard, mobile leaderboard, wide skyscraper, large rectangle, medium rectangle, billboard

Digital templates are the workhorses of your brand asset library. In the absence of guidelines, users tend to put their own creative stamp on common documents. Nip these in the bud by providing a full spectrum of branded applications.

Social media assets

Aman Instagram account

Aman’s Instagram account is serene and luxurious, just like the resort company itself.

  • Headers – Facebook, Twitter, Instagram, Pinterest, LinkedIn
  • Profile photos
  • Social ads

Normally social media assets are cobbled together internally by the marketing or social media team. If so, it never hurts to run mockups by the brand steward or designer to gauge brand cohesiveness. Future iterations can then be created with pointers in mind.

Stationery

Jukebox Print cards

Print can be a surprisingly strong way to anchor your brand. Cards by Jukebox Print.

  • Business card
  • Letterhead
  • Letter envelopes
  • Window envelopes
  • Catalog or document envelopes
  • Invoice
  • Receipt
  • Note card or compliments slip
  • Presentation folder
  • Mailing label
  • Brochure

We like to think that print has gone the way of the mastodons, but marketers are discovering that in the mad rush to go digital, emptier mailboxes mean better opportunities to showcase your brand. Did you know that direct mail as a percentage of all mail went up in 2016? And never underestimate the power of the humble receipt to carry brand messaging.

Corporate signage

Slack offices Toronto

Lobby signage doesn’t have to be boring. Slack offices in Toronto, courtesy of Office Snapshots.

  • Lobby signage
  • Directional signage
  • Glass vinyl graphics
  • Exterior signage
  • Event signage

Think of signage as another canvas for your brand. How can you use that space to communicate your brand’s key attributes?

Trade show assets

Ray Ban tradeshow booth

This Ray-Ban tradeshow booth certainly turned heads at an ophthalmology conference in Milan. Photo courtesy of Trive Digest.

  • Retractable banners
  • Trade show booth
  • Table drapery

Apart from their networking benefits, conferences and trade shows are prime opportunities to build brand awareness. You may not have the budget of Ray-Ban in creating a stunning booth, but never underestimate how a well designed retractable banner can stop traffic.

Other applications

New York Post gummy bears giveaway

People are still talking about this bucket of gummy bears that the New York Post gave away during Advertising Week 2014.

  • Branded premiums
  • Branded attire
  • Vehicle wrap
  • Photography
  • Other application 1
  • Other application 2

Want to make this list yours? Download it as a Word document.

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