We are funded!
We finally made it and it was not easy! Yesterday night, with the order of SARA, we reached our funding target, 6 days before the end of the funding campaign. What a sensation! But what is the story behind?
Every (Crowdfunding) story has a beginning..
Our funding story starts about 3 months ago, when we decided to really start the crowdfunding campaign. We spent many months in developing MR. ORANGE. We tested it and we collected many impressions of our friends about it. Check out our article about how we developed our idea.
The enthusiasm for MR. ORANGE was growing quickly and we decided to bring it to live. But how? Our product is relatively simple and it does not need huge investments. We do everything by our self (3D design, prototypes, photos&videos, the website, the patent activity, etc..) to reduce as much as possible the costs and to learn as much as possible form this experience. Nevertheless we need a first capital to finance the start of the production.
We considered many way of financing, like bank financing, investors, crowdfunding and even to finance with our own money. We chose to try with the crowdfunding, since we heard a lot about this and it looked very promising and low risk. Especially we liked the idea of rising up the necessary budged using pre-orders. No risk for us, no risk for the customers and immediate feedback if there is market space for the product.
The product is ready to be launched. Is the community read to receive it?
This is the first thing that we learnt about the crowdfunding. Starting a campaign without a minimum network of potential customers that are already informed about the product and about the campaign is a must. So we start building up a network on different social media. We started with the Facebook page, LinkedIn page and a YouTube channel. In parallel we organized various events to promote MR. ORANGE and we brought it together with us in our vacation to expand even more the visibility.
Shooting photos and videos was a very demanding activity, but we had a lots of fun in making and we are very happy about the result.
It was very rewarding to see our community growing every day. Check out our articles about the events that we organized. You ma want to join our next!
Building up the campaign
So, product ready, community ready. What´s next?
We invested a lot of time in checking various crowdfunding platforms, the funded projects and at the end we decided to use Kickstarter.
We set up the page and we wrote the story line. It was not too difficult, with all the photo and videos that we created to build up the social community! The definition of the rewards was not easy. It is not trivial to find the balance between simplicity of the rewards and number of variation. Of course each customer would like to have a custom reward, which fits perfectly to his situation. but offering too many variation and combinations could mislead the customer and block the purchasing process.
We come up with 5 color variation, 2 of them unlocked only after reaching a specific grade of funding. we offered MR. ORANGE in in single packages or in package of 2, 5 and 10 items.
Last, but not least, we set up the funding target that we needed to finance all the expanse.
Launching the campaign
We launched on gg.mm.aaaa and we programmed a series of post on our social network to promote the campaign. Every hour we checked the progress of the funding holding the breath every time the funding progress was slowing down and exploding of happiness at every increase.
It was a very intense month! an experience that I recommend to everybody. Finally, with the support of 451 backers we reached the target, 6 days in advance!
The campaign is still running and we hope we can reach the 150% of the funding within the last 5 days.
Help us in reaching this goal and holding the breath with us!
Has all this inspired you to start your own business?
Lets us know and leave a comment here below!