Finding funding for a new product can be difficult, if not downright impossible. There are many ways of approaching it – from seeking out venture capitalists, to diverting funds from different departments and budgets, to crowd funding. Founder and CEO David Kahng of Davek Accessories, NYC decided to take the latter route with a Kickstarter Campaign. The new product is a smart umbrella – one that can be tethered to your mobile device and one that you can never lose.
What’s the Big Deal?
Davek Inc. already makes amazing products. Their umbrellas are engineered for strength designed for comfort and beauty, and built for a long life of keeping you dry. These are the kinds of umbrellas you never want to leave behind in the café, under the seat in the movie theater, or on the train you just stepped off. By building umbrellas with a smart chip, they can make you an umbrella that will never have to be lost again.
A kickstarter Video: One Component in the Funding Strategy
David knows the statistics about online video, and he knew video needed to be a strong component in his arsenal. Kickstarter recommends creating a video for any new project. 80% of projects on the site have videos, and those that don’t have a much lower rate of success. If you're ready to take the plunge with a Kickstarter campaign and create your own video, it's important to keep a few things in mind:
- Quality over quantity - Should your Kickstarter video be a 30 second video, or a 2 minute video? This question becomes less and less important as the quality of the video increases. What makes good quality? Read on.
- Be yourself - Viewers are being asked to give their money to someone they see online, probably someone they've never met. So it's important to just be yourself when on camera. It doesn't matter if you're quirky, quiet, loud, or funny. Just make sure it's you, and make sure you're used in the video in a way that complements who you are. Most importantly, be personable.
- Talk about your company or yourself...but not too much - There's a fine line here. Talk about who you are, what you do, and why you do it. This makes a connection to your viewer and, if done correctly, builds trust.
- State the challenge, and be the solution - This needs to be very clear. You must answer the question "Why is this needed?" If your video speaks to this, your chances of funding will surely increase. Davek Accessories did this very well.
- Be creative - Some people make the mistake of sitting in front of a camera and speaking for the length of the video. Please don't do that. In a world where online video is popping up everywhere, you need to stand out. We don't mean explosions and crazy graphics. We're talking about visual interest. Davek's video combined a CEO message, scenes in a coffee shop, some animation, and shots in the city. This keeps things moving, and helps ensure comlete views.
- Don't rely solely on your video - Coming from a video production company, that might seem odd to say read. But as a video production company that understands marketing, we definitely suggest a strategy of connecting social campaigns, word-of-mouth, print ads, and reaching out to others (bloggers, authors, fellow business owners, etc.) who share interest in a product like the one you're talking about. For Davek, that meant collaborating with tech blogs, lifestyle publications, and media outlets like Bloomberg.
The Result: SUccess!
David let Storyboard Media Group know the outcome from the backend - 20,000 complete views of their Kickstarter video, and successful funding of more than the $50,000 they sought. We were very proud and fortunate to be a part of that success for a client!
If you're interested in creating your own Kickstarter campaign video in the NYC, NJ or CT area, we're here to help. Contact us today to tell about your project.