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The Anatomy Of A Successful Crowdfunding Campaign

April 7, 2018Marketing

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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August 29, 2020Marketing

As the Pandemic Lingers, Brands Master the New Normal

COVID-19 has upended consumer behavior like nothing else. Lockdowns have created homebodies who cut back on discretionary spending, embarked on a gardening binge, and remodeled and renovated to the point that American saw mills ran out of lumber.

The challenge now for brands is to understand their role in the new normal. Several, like the below, are finding novel ways to position their offerings and stay relevant during turbulent times.

Getty Museum Challenge: Bringing the Museum Experience Home

Getty Museum Challenge Psyche Opening the Door into Cupid’s Garden by John William Waterhouse

One of the most popular Getty Museum Challenge entries on Reddit was u/moorelei's take on Psyche Opening the Door into Cupid's Garden by John William Waterhouse

Like retail, restaurants and airlines, museums lost consumer patronage during COVID-19. The American Alliance on Museums estimates that US museums are losing $33 million a day due to closures. Can these institutions stay relevant at a time when everyone is hunkered down at home?

The Getty Museum proved that they can. In late March, it issued a challenge on social media to recreate famous works in their collection using household items. Thousands of entries later, the Getty Museum Challenge has kept boredom at bay, given home schooling-stressed families a creative diversion and, most importantly, made art accessible to a wider swathe of people.

Successes like this campaign have inspired other museums to experiment with live streamed tours, virtual visits, Zoom lectures, and other digital ways to experience their collections. For organizations that have traditionally relied on foot traffic in the past, how can you bring the experience to users’ homes? What assets can you leverage to draw in users?

You can find more entries to the Getty Museum Challenge on Instagram with the hashtag #betweenartandquarantine.

OffLimits Cereal: Rejuvenating a Tired Category

OffLimits cereals

OffLimits cereals for morning larks and night owls

With dining out a distant memory, how did people’s eating habits change during COVID? According to food manufacturers, households stockpiled flour, canned soup and cereal. The last has undergone a dramatic turnaround during COVID. After years of sales declines, the once moribund cereal sector is having a renaissance as homebound consumers appreciate its convenience and price.

It may have taken a pandemic for cereal to make a comeback but for new brand OffLimits, cereal is nostalgic yet ripe for reinvention. The cocoa-and-Intelligentsia-coffee flavored Dash is meant as a morning booster while vanilla-and-pandan Boost is designed to help wind down the day. In an old school throwback, all purchases are eligible for tickets that can be redeemed for toys. The toy range at the moment comprises key chains, custom Sharpies, and spray paint.

When Vogue asked OffLimits founder Emily Miller why she focused her efforts on a new kind of cereal, she answered, ‘Why couldn’t there be something fun like Tony the Tiger mixed with the healthy ingredients Mom would approve of?’ As more homebound consumers rediscover packaged goods, brands that innovate in this space will be the new grocery winners.

Stella Artois: Giving Back to the Sector it Knows Best

First written up in Marketing Dive, beer brand Stella Artois created a social media campaign that is true to its roots and hones in on a sector it knows best: bars and restaurants.

Anchored by messaging that said ‘there is always an after’ to a crisis, the campaign encouraged consumers to purchase vouchers for use at these small businesses. Stella Artois will match the value of the vouchers once they are used after the health crisis is over. According to Marketing Dive, the beer brand raised over $2.5 million across 10 countries where the campaign ran.

What made Stella Artois’ campaign so different from the generic COVID commercials that were widely panned in this video supercut was positive, measurable impact on stakeholders with which it had deep relationships. McKinsey, back in 2009, wrote a seminal piece on how companies should choose corporate social responsibility initiatives, and of the principles it outlined in that article, smart partnering holds true in this COVID case study. Small bars and restaurants benefited from the beer brand’s size, presence, and knowledge of their space while the benefit to Stella Artois was enhanced corporate reputation.

KEPT: Luxury in the Most Unexpected Places

KEPT Cleaning Supplies

KEPT's cleaning tools are meant to be displayed

As consumer categories waxed and waned during the crisis, one has exploded beyond expectations: home cleaning products. Packaged goods giants Reckitt Benckiser, Unilever and Procter & Gamble have said that they expect consumers’ heightened cleaning habits to continue beyond the pandemic.

Which makes brands like KEPT not only prescient, but poised for success. KEPT gives the lowly dustpan, broom and feather duster the designer touch, making them unexpected luxury items. The utility set pictured above, consisting of an inky black broom, feather duster, dust pan, brush and pegboard, costs $458. And it’s out of stock.

‘I wanted this collection to hit the sweet spot of products that are thoughtfully designed and made — buy once, buy well,’ said Kara Mann, interior designer and the brand founder, to Silicon Valley magazine. ‘It’s a broom that you don’t have to hide away; you can hang it on a pegboard and use it because it feels good in your hand and sweeps beautifully.’

With consumers stuck at home, the whole construct of luxury has changed. Investing in a $2,000 designer bag makes no sense when there’s no opportunity to show it off; instead, the new must-have is a Peloton bike. Luxury brands might want to take a leaf from KEPT’s notebook and understand how it can still inject that little bit of luxe in a home setting.

One brand that has understood this, years before COVID, is Armani. Its dark chocolate and hazelnut spread is the designer version of Nutella.
August 1, 2018Style

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 chine would become a uniform for women, a concept that was radical in itself. Vogue argued that one would not hesitate to buy a car that looked similar to other cars on the road if it was known for its quality. ‘Here is a Ford named Chanel,’ Vogue said.

The reception to the little black dress was as divisive as drop waist dresses, bobbed hair and pants on women. Male journalists bemoaned the loss of bosoms, waists and bums. Two more Chanel LBDs were featured in French Vogue in 1927, both dropwaist, knee-length and sleeveless, spurring one of the biggest names in fashion then, Paul Poiret, to utter his most famous lines:

‘What has Chanel invented? Poverty de luxe. Formerly women were architectural, like the prows of ships, and very beautiful. Now they resemble little undernourished telegraph clerks.’

5. Costume jewelry

Verdura cuffs for Chanel

Original Verdura Maltese cross cuffs from 1930 created for Chanel. Photo from Vintage Jewelry Design by Caroline Cox.

With the advent of the little black dress, a new canvas was born that begged for adornment. Wearing full-on jewels though was a hallmark of the past; Chanel’s brilliant idea was to use glass instead of real gems. One of the quotes attributed to her on the subject was ‘I love fakes because I find such jewelry provocative, and I find it disgraceful to walk around with millions around your neck just because you’re rich.’

Chanel’s boutiques started selling fake jewels in 1921, but really came into their own when the designer collaborated with Maison Gripoix, a firm known for its glass jewelry. The poured glass gems were striking, designed to evoke different stylistic periods from Byzantine to Art Deco.

One of the most recognizable costume jewelry pieces made for Chanel were the Maltese cross cuffs created by Fulco di Verdura who started his career at Chanel as the head of textiles. Chanel had passed him jewels given to her by Grand Duke Dimitri, her former lover, to be reset. Verdura crafted the gems into dramatic, hinged cuffs that became a Chanel signature.

6. Sunbathing

Chanel sunbathing

Chanel sunbathing with sister Gabrielle in 1918 (left) and ‘elegant internationals’ sunning themselves in Tangier in 1964. Left photo from Chanel and Her World by Edmonde Charles-Roux and right photo from Look Magazine, January 1964.

Tans were a no-no in young Coco’s time. Brown skin implied that you had to labor outdoors for a living, while a lily-white complexion indicated an aristocratic existence where zero work was involved.

This view changed in 1923 when Chanel, now a confirmed celebrity, accidentally got sunburned on a cruise in the Riviera. The photographs of her with bronzed skin gave rise to a new beauty ideal. Tanned skin now meant wealth and status — only the rich could hang out on beaches throughout the year while the masses shivered at home.

Sunbathing became so fashionable that even Vogue back in 1927 had their say on it. ‘One has to be sunburned smartly, and to be so, one must needs make a serious business of it: First of acquiring it, then of dressing for it. And those who don’t recognise the importance of this credo are apt to be more sunburned than smart.’

7. Shoulder bags with chain straps

Catherine Deneuve Chanel

Catherine Deneuve with Johnny Hallyday. That’s a Chanel bag nestled under her arm.

The most coveted It Bag in the world is Chanel’s iconic 2.55 flap bag, named after the date that she unveiled it in February 1955. Legend has it that its bordeaux lining was inspired by the clothing she wore as an orphan on charity, yet this seems quite curious given the extent the designer went to in concealing her origins. Young women of means at the type of boarding school that Chanel attended, however, wore fine cashmere garments in a distinct garnet shade. Could the bag’s interior color have been inspired by them?

1955 was a memorable year for Chanel. The year before, she had launched her first collection after an absence of 15 years, an absence where Christian Dior was now the star of couture after introducing his New Look in 1947. Chanel’s designs seemed antiquated and severe in comparison, and the French press gave her 1954 comeback savage reviews.

Across the pond, it was a different story. Chanel’s new collection was warmly received by the American press and sold out on Seventh Avenue. Against all odds the out-of-touch couturiere was back in demand, her style philosophy — ‘A garment must be logical’ — making complete sense to a new generation.

The 2.55 bag she launched in 1955 embodied the chic functionality Chanel sought in every thing she produced. Every feature was thoroughly thought through. For example, the chain straps acted as jewelry while their shoulder length freed up women’s hands.

Through its many iterations through the decades, Chanel’s quilted bag remains a constant style aspiration, proof of the enduring genius of its design. Only perhaps Hermes’ Kelly and Birkin bags are as recognized and coveted, having also stood the test of time.

8. Tweed suits

Chanel tweed suits through the ages

Chanel tweed suits through the ages, left to right: Snappy ensembles featured in Vogue, January 1964; an abbreviated pastel jacket and skirt from Vogue, March 1990; style blogger Alexandra Lapp in the modern incarnation of jeans and Chanel jacket.

Another great example of Chanel’s appropriation of an unassuming medium and repurposing it into a timeless creation is her signature tweed suit.

Tweed is a sturdy woolen fabric normally associated with outdoor pursuits such as hunting, shooting and cycling. When Chanel took up with her English lover, the Duke of Westminster, in the mid-1920s, she liberally borrowed his tweed jackets for outdoor activities. It must have been these tweeds that inspired her to create her first tweed garments in the 1930s, and eventually the skirt suit that became a hallmark of her design house.

Charming as it is, Chanel suits are designed with engineer-worthy functional rigor. For example, a slim chain is sewn into each jacket’s lining at the hem, weighing down the garment for a perfect silhouette. It’s just one of the many fastidious details Chanel introduced that put her designs in a league of their own.

9. The two-tone shoe

Chanel two-tone shoes

Chanel’s two-tone shoe is both versatile and flattering.

The little tweed suit. The cascades of faux pearls. The quilted flap bag with chain handles. All these are elements in a quintessential head-to-toe look that, although aped by many, will always be attributed to Chanel. And that look is punctuated by the two-tone shoe that she introduced in 1957.

Sporting a sensible heel, the shoe had a beige body that seemed like an extension of the foot, ending in a black cap toe. The silhouette was immensely flattering, visually lengthening the leg. ‘We leave in the morning with a beige and black, we lunch with beige and black, we go to a cocktail party with beige and black,’ Chanel reportedly said during the shoe’s launch. ‘We are dressed from morning to night!’

Like the 2.55 bag, the two-tone shoe sports a new look season after season while retaining its core stylistic elements.

10. Synthetics in fragrance

Catherine Deneuve for Chanel No. 5, 1977

Catherine Deneuve in a Chanel No. 5 ad from 1977

Before the 1920s, women’s fragrances were powdery, floral, single-note concoctions that were at stark odds with Chanel’s bold designs. She teamed up with premier perfume blender Ernest Beaux in 1921 to create a fragrance that would be like no other.

Beaux played around with multiple notes and, among the samples he provided the designer, one was truly unique. It contained aldehydes, synthetic compounds that added a mesmerizing sparkle to the natural essences. This scent didn’t smell like a rose or a lily. It smelt complex and memorable, like a woman.

It was this sample, the fifth that Beaux presented, that captivated Chanel. Hence the name Chanel No. 5.

Chanel broke tradition not just with the use of aldehydes, which kick started the great aldehydic florals in history, but also with package design. No. 5’s rectangular bottle was minimalist, almost severely so, and square, like a whiskey flask. It was the complete antithesis of the elaborate, sculpted crystal fragrance bottles that were characteristic of the time. Designed for the machine age, the bottle remains fresh and current nearly 100 years after its conception.

‘Elegance is refusal,’ is one of Chanel’s most famous quotes. Perhaps it is this maxim that is at the heart of her success, and why the looks she championed continue to endure.

Photo of Alexandra Lapp in Chanel first appeared on her fashion blog.

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