Kickstarter has seemed like a dream come true for many entrepreneurs already, but there is reason to believe that quite a few are not making the most of its potential. As Danny DeMichele noted in a recent blog post, Kickstarter and other crowdfunding platforms are more merely ways to raise money.
Funding Helps, but Exposure Can Be Even More Valuable
Raising a hundred thousand dollars or more to bring a new product to market could seem like everything an ambitious entrepreneur might need to succeed. While the cash to which Kickstarter, Indiegogo, and other platforms can afford access might come in handy, that is only part of what they have to offer.
In practice, the exposure that a strong crowdfunding campaign can generate often turns out to be every bit as valuable as the money itself. With a potentially huge audience ready to get excited about a new product before it even becomes available to buy, a special kind of opportunity is often awaiting.
Turning Crowdfunding Buzz and Exposure Into Business Building Results
Even so, many of the most apparently successful campaigns have not necessarily translated into long term success. Even when a Kickstarter proposal is so well crafted as to attract attention from major media outlets and the like, the buzz that builds up can easily fade out before the related product reaches market.
Entrepreneurs who refuse to accept this as inevitable have some effective ways of making sure that their own projects will not come up short in this respect. One proven tool is simply to bring all of those who express interest into the loop by keeping them updated as a project progresses. While some Kickstarter alums have focused exclusively on pleasing their backers, casting the net quite a bit wider can help.
Even when a tremendous amount of buzz has been generated, it is also always necessary to be sure of seeing to the fundamentals. Of all the ways by which Kickstarter projects sometimes fail today, practical considerations like delays and under-delivery remain the most common. When the exposure that a Kickstarter campaign produces can lead to feelings of giddiness and excessive optimism, staying well grounded should always be a priority.