All posts for Tag: indiegogo

indiegogo: Validating Your Product’s Market Potential

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Successfully crowdfunding your project on indiegogo will validate your project idea to VCs. The willingness of those to spend their hard earned money demonstrates the presence of a market. This was amongst one of the many teachings from Ayah Norris, Marketing & Community Management at indiegogo.

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Earlier this week, the CFC Media Lab hosted an indiegogo workshop for ideaBOOST cohort 3 companies. They were taken through a presentation about the platform’s various services and benefits, as a well as a rundown of what factors lead to a successful campaign.

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While talking at ideaBOOST, Ayah offered some of the following insights:

  • Your Networks: At the beginning of your campaign, most fundraising will take place within your own networks. Completed campaigns were successfully able to acquire contributors outside of their immediate associates.
  • Mitigate Risk: indiegogo can be utilized as a tool to gauge the market’s interest in your product. If your campaign fails to reach its goal, that can be a sign that your idea doesn’t have a substantial market at this time.
  • Cost Out Your Perks: Before launching your campaign, don’t forget to cost out the perks offered to contributors and incorporate it into your total ask. These are often accidentally overlooked, when they in fact require time and money to execute.
  • Be Realistic: Setting an ambitious goal doesn’t necessarily mean that you’ll raise more money. Instead, it’s often the case that a modest amount is more surmountable. A large ask usually requires the campaigner to already have a substantial online profile.
  • Promotional Mistakes: Campaigners sometimes take part in rookie mistakes hindering their performance. This can include the following: Starting your campaign at $0, over-promoting too early on, spamming your networks, panhandling and only taking part in one-way communication.
  • The Three Ps: For an indiegogo campaign to be successful, the following three elements should be perfectly in-line: Pitch, perks and promotion. It is more difficulty to succeed if you lack in one area.

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The CFC Media Lab recently partnered with indiegogo to launch an ideaBOOST campaign page. Stay tuned, as in the near future we will begin populating this page with campaigns to assist cohort companies in their continued growth and development.

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Support the First ideaBOOST Cohort!

We would like to send a special congratulations out to all of the amazing participants of the first cohort of ideaBOOST.  If you are interested in learning more about their products please read about them here: http://ideaboost.ca/program/current-cohort.  Also, feel free to check out our amazing photos from the ideaBOOST Launch Pad on our flickr page.

Now that the program has officially concluded we wanted to send out a little update to let you know that three of these companies need YOUR support:

Phantom Compass’s Rollers of the Realm is hoping to be green-lit on Steam Greenlight, if you would love to play an RPG style pinball game be sure to support them by clicking the YES button below their video.      

Ramen Party is raising funds on indiegogo, their perks are adorable so be sure to donate now!  

YOUR TASK // SHOOT THINGS is also raising funds on indiegogo, if you’re a fan of YAMANTAKA // SONIC TITAN be sure to support the development of their new app!  

 

Do you have a product that you would like to submit to ideaBOOST?  If so, we are now accepting applications for our next cohort and we invite you to apply online. Also, feel free to browse and BOOST all of the existing products that have been submitted!

Follow along on twitter to keep up with all of the #ideaBOOST fun!

 

Support the First ideaBOOST Cohort!

We would like to send a special congratulations out to all of the amazing participants of the first cohort of ideaBOOST.  If you are interested in learning more about their products please read about them here: http://ideaboost.ca/program/current-cohort.  Also, feel free to check out our amazing photos from the ideaBOOST Launch Pad on our flickr page. Now that […]

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