Hello!I wrote a few times in here about a multitool i was launching, and promised to make a post when launching. ¨ now finally having launched on Kickstarter i wanted to share some things i learnt.FIY, the campaign has been running for about 30 days and have raised 16k USD. While this might sound positive I am a bit disappointed (by my own stupid decisions)I have experience in E-commerce and product development so my plan was to combine these skills and create something original that i could launch a brand with - i don't need to profit on the first product, but to use it to kickstart a brand.I chose to launch a multitool because i had some knowledge in this "niche" and the product development costs are low (no electronics etc..)Everything was going well after a few weeks of researching the market i had designed and made prototypes of the tool i called Bit-buckle and hired a film-crew to help create an video.By the way the in short, product research consisted of checking what was currently hot selling, both on Kickstarter but also on Amazon etc and then identifying the features and mixing them, so i saw that multitools were doing very well, and belts were doing very well so i combined it.So still on time - 2 months in i had product, video. The Kickstarter sales page an itself took a few days.Now here is when i fucked up.To get a Kickstarter rolling you have to get a strong launch, which usually means having a list of people that you can email that then will buy when you launch.Everyone i talked to that had launched kickstarters told me this was crucial.I took this list WAY to serious and tunnel visioned on getting lead acquisition cost down, optimizing etc this landing page to get more leads, because in my mind: more leads = better launch.What i should have done: Spend all the budget over 3-4 weeks and then launch.What i did: Drip feed the budget over a year, ending with a really optimized landing page but all the leads being cold.So in the end, of the funds raised, only $2k of sales came from the list and the rest organically through the kickstarter platform.I had also much improved the design in this time but as i had already shot the video i couldn't show this.Meaning that i would have gotten the same result had i just launched asap.The second fuckup:As mentioned i have E-commerce and media buying experience but guess what, you can't use any form of pixel on Kickstarter, that means that's it's close to impossible to get sales with Facebook. I tried Instagram influencer marketing instead as a quick plan b, total failure.If i had sticked to the plan the $15k funding would have been a great success because it would have prooved that my long term plan was possible: to launch a product on a 3-5 month turnover in a specific niche, because each launch will "boost" the next.Funny note: In the meantime i launched another E-commerce store with a very very simple product i made that did 4x the sales that the kickstarter did - and that was with ZERO pre-launch efforts.So to summarize what i learned:Play to your strengths - The Ecom store launch did much better in shorter time because i knew what i was doing. I had never done prelaunches before and apparently i sucked at it. Alternatively: Hire someone.Stick to your plan. Launch FAST. - I read this all the time it's almost an cliché but it is very true.You are free to check out the Kickstarter campaign herehttps://https://ift.tt/3bSir4P see hubwealthy.com/wealthy
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