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Benchmark of 100 crowdfunding videos reveals what works and how much to spend

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51–57 of 57 posts

Re: Benchmark of 100 crowdfunding videos reveals what works and how much to spend

#51
post #44
post #42

Earlier quoted context omitted.

>You never really explain how you can set that up easily and use it efficiently . Conesus, apologies if I'm wrong, but I suspect you might not have understood the core issue Daveguy is raising here. I don't think its about pairing devices. When I watched the video, there was this huge awkward tension I felt: "How can all this functionality work with just 4 buttons?" which made me think "This product is probably a was…

I'm glad I put myself out there for feedback because it was your comment that caused me to see my campaign in a new perspective. I actually shot two videos. The founder interview at the end cost $4k because it was originally a longer video where I explained how the remote worked. But it didn't have any of the action shots, so I re-shot it, eschewing an explanation in favor of demonstrating its use, relying on people…

> relying on people to be intrigued and then read on

People have an extremely short attention span these days . You have to grab their attention right away and strongly guide them through the buying process. Intriguing doesn't work. It's a sales pitch, not an artistic short film.

You can't expect that people figure it out for themselves why they should buy the product, how it works, why it's something that they need. You have to communicate that very clearly and right away.

And honestly, whoever produced the video should have told you that.

Re: Benchmark of 100 crowdfunding videos reveals what works and how much to spend

#52
post #4

Ok, there's a chance I'll gain some valuable insight from posting this, which beats the cost of putting myself out there, so here goes... I just completed a 30 day hardware Kickstarter last week and spent $22k on the video ($18k for main video, $4k for founder interview) and raised $57k, which is an outlier to this data. I can tell my campaign is not in the Video Budget / Amount Raised graph because it would stick ou…

If your goal was 25k, why didn't you just work a few months on whatever for the remaining 3k, then spend those 22+3 on the project instead?

Re: Benchmark of 100 crowdfunding videos reveals what works and how much to spend

#53
post #3

Author here! happy to answer questions, and curious to hear about your own crowdfunding video stories.

Did you have any thoughts regarding the attractiveness of the people in the videos?

E.g. the video in another commenters post (the wooden remote) obviously hired models to appear in them.

Re: Benchmark of 100 crowdfunding videos reveals what works and how much to spend

#54

I never saw the economics of crowdfunding before, but this confirms what I suspected: crowdfunding isn't really about getting your project funded by the crowd, but about buying a structured platform to launch from. It looks like a 10% non-refundable deposit is the entry ticket, plus a bunch of non-refundable marketing work on top. And you can't tell the truth about how much money you actually need for fear of not hit…

No argument here, but I can tell you that this kind of market research was absolutely impossible for such small sums in the pre-internet age.

Re: Benchmark of 100 crowdfunding videos reveals what works and how much to spend

#55
post #41
post #19

Earlier quoted context omitted.

Whoa, that Morse code idea was meant as a joke. Edit: ahh ok that's not how Knocki works. Anyway, conversion is all about what percentage of people seeing an advertisement want your product. Having a great pitch only goes so far.

> Whoa, that Morse code idea was meant as a joke. Edit: ahh ok that's not how Knocki works. It sort of does. Look at this advertisement: https://knocki.com/images/3dhouse.jpg I don't know if the idea of using patterns as control is genius or stupid. That said: Compared to this Knocki thing a wooden house remote with four buttons looks a bit boring. My guess is that people who have home automation (and are surfing kic…

That...that looks like a usability nightmare...

Re: Benchmark of 100 crowdfunding videos reveals what works and how much to spend

#56

Does anyone else feel that Kickstarter has turned from helping cash strapped startups and individuals raise funds for interesting projects into a low-risk small business pre-order system? I feel it's a shame people are spending $20,000+ to try and convince you to donate them money, I don't feel it was in the original spirit of Kickstarter earlier on.

The little guy can still succeed on Kickstarter/Indiegogo. We saw many bootstrapped campaigns do well (60% success rate), with videos made in-house or in the $1-$3k range. It's just that the amounts raised aren't as impressive, on average, $25k vs. the Millions attained by glossy campaigns with deeper pockets and expensive videos. Getting in the crowdfunding hall-of-fame has gotten harder, but crowdfunding is still an effective tool for small projects.

Re: Benchmark of 100 crowdfunding videos reveals what works and how much to spend

#57
post #44
post #42

Earlier quoted context omitted.

>You never really explain how you can set that up easily and use it efficiently . Conesus, apologies if I'm wrong, but I suspect you might not have understood the core issue Daveguy is raising here. I don't think its about pairing devices. When I watched the video, there was this huge awkward tension I felt: "How can all this functionality work with just 4 buttons?" which made me think "This product is probably a was…

I'm glad I put myself out there for feedback because it was your comment that caused me to see my campaign in a new perspective. I actually shot two videos. The founder interview at the end cost $4k because it was originally a longer video where I explained how the remote worked. But it didn't have any of the action shots, so I re-shot it, eschewing an explanation in favor of demonstrating its use, relying on people…

Feral nailed it. It is not a pairing issue. It's a question of whether it will be a pain even after it's all set up.

This 1:20 video is definitely better. For the sole reason that you include the fact that four buttons are mapped to four buttons. One press for the app and one for the function. Personally I think you should simplify the operation or only explain how it works for 4 apps. Let people who are intrigued find out you can program it to do a special sequence of functions across apps with a single special touch.

Those 1M+ campaigns all had a very simple functions and operation and with knocki you easily know what the 2-3 different knock types do because your knocki is in a very specific context (kitchen table, bedside, bathroom, etc).

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