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07-15-2019, 05:26 PM | #11 |
Cobra Viper
Join Date: Jul 2009
Location: Charlotte, NC
Posts: 112
|
Another thing to fully understand is the Kickstarter community.
Kickstarter has different types of backers. You have to play to the “Action Figure Supporting” group. Kickstarter IS NOT a retail store, it’s a funding utility. Your campaign is not about selling action figures, your campaign is about funding a project. The “Valaverse” campaign probably could have set a funding goal of 95k and finished 20k higher than it did, simply by playing to the group....around 15% won’t pledge till a project has funded. -LV |
07-15-2019, 05:38 PM | #12 |
Crimson Guard
Join Date: Jan 2011
Location: Brazil,Rio de janeiro
Posts: 3,005
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Should Kickstarter support Hasbro to revitalize the joe brand ?
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07-15-2019, 06:04 PM | #13 |
I.O. SpecOps
Join Date: Nov 2007
Location: In a secret underground bunker.
Posts: 4,404
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Quote:
Kickstarter doesn't support projects. Hasbro would have to start their own project on kickstarter. Not likely to happen with Haslab still in operation. Why pay fees to KS, when you have your own crowdfunding operation.
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07-15-2019, 07:34 PM | #14 |
Cobra Viper
Join Date: Jul 2009
Location: Charlotte, NC
Posts: 112
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Quote:
Now its 0% funded and a funding source might have been squandered. |
07-15-2019, 08:45 PM | #15 |
I.O. SpecOps
Join Date: Nov 2007
Location: In a secret underground bunker.
Posts: 4,404
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You assume he didn't already have other funding sources, when he came up with that number.
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07-15-2019, 08:54 PM | #16 |
Iron Grenadier
Join Date: Jan 2008
Location: Raleigh, NC
Posts: 514
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Great thread and discussion! I've enjoyed reading the various thoughts and feedback.
Quote:
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07-15-2019, 09:47 PM | #17 |
I just want foam gliders.
Join Date: Sep 2007
Location: Tooele (two-willa), Utah
Posts: 18,727
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Quote:
Feedback I received prior to starting my Kickstarter was to set the goal below what I actually needed to get what I could, with the best case scenario being additional funds taking the total amount to what I actually needed. I felt that was a very irresponsible approach to crowdfunding. I understand the logic, but if taking that approach one needs to make sure they have the remainder of the actual funding goal (whether that's loans/financing or outside investors) secured before lowering their KS goal.
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07-15-2019, 10:22 PM | #18 |
Action Unlimited
Join Date: Jul 2018
Location: North Haverbrook
Posts: 1,016
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Vala specific conversations should go to the Vala thread. But in general, KS should be structured so the funding goal should be as low as possible. Any additional tchotchkes should be structures as feel good unlocks or value added bonuses. Having a funding goal for a whole "wave" is retail thinking and backa$$wards.
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07-16-2019, 04:04 AM | #19 |
Crimson Guard
Join Date: Sep 2011
Location: Virginia
Posts: 2,386
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KS Creators, in general, are overly optimistic and humans in general try to insert causal explanations for things that are actually bad rolls of the dice. When something succeeds, we come up with a misleading story that makes it seem like it was preordained. Sports analysis is built on this type of fallacious narrative weaving. The reality is that failure is always a strong possibility from a statistical standpoint and it has to be understood and accepted. Marauder succeeded, but if one or two people that were vocal supporters had simply missed the campaign, it may have failed to gain the momentum it needed. And MJ most certainly did not accurately project his costs on those early campaigns. If he had thought of things that he didn't think of, he might not have offered the value he offered and it might have been a different story. Nobody can cause themselves to think of things that they haven't thought of. It's all probability whether a thought crosses ones mind or not.
External environmental factors also complicate and confuse attempts to explain why a particular KS failed. The concept of Toy KS was fresh and new several years ago, but now that we've been through the churn a few times, we know that even when these things succeed, they may ultimately not have been worth it. We possess a more realistic sense of risk and expected value. The hype train is having trouble leaving the station these days. So, my advice to future KS creators would be the following: - Accept that failure is a very real possibility no matter what you do. - Adopt an outside view of your project and perform a "pre-mortem" -- that is, try to explain why your KS failed, before it's even launched. This will highlight risks and liabilities that may have been invisible to you. - Recognize that your ideas are probably not as good as you think they are. It's probably not enough to simply target a vacant niche anymore, because most niches are vacant for a reason. You need something truly special on its own, not just copying existing toys and slapping on a different theme. So, I guess my advice is to think very carefully before embarking on a Kickstarter campaign. The problem is that most people don't know how to think carefully. I recommend the book, "Thinking: Fast and Slow" for insight. |
07-16-2019, 04:30 AM | #20 |
Crimson Guard
Join Date: Dec 2017
Location: Parts Unknown
Posts: 1,035
|
Quote:
KS Creators, in general, are overly optimistic and humans in general try to insert causal explanations for things that are actually bad rolls of the dice. When something succeeds, we come up with a misleading story that makes it seem like it was preordained. Sports analysis is built on this type of fallacious narrative weaving. The reality is that failure is always a strong possibility from a statistical standpoint and it has to be understood and accepted. Marauder succeeded, but if one or two people that were vocal supporters had simply missed the campaign, it may have failed to gain the momentum it needed. And MJ most certainly did not accurately project his costs on those early campaigns. If he had thought of things that he didn't think of, he might not have offered the value he offered and it might have been a different story. Nobody can cause themselves to think of things that they haven't thought of. It's all probability whether a thought crosses ones mind or not.
External environmental factors also complicate and confuse attempts to explain why a particular KS failed. The concept of Toy KS was fresh and new several years ago, but now that we've been through the churn a few times, we know that even when these things succeed, they may ultimately not have been worth it. We possess a more realistic sense of risk and expected value. The hype train is having trouble leaving the station these days. So, my advice to future KS creators would be the following: - Accept that failure is a very real possibility no matter what you do. - Adopt an outside view of your project and perform a "pre-mortem" -- that is, try to explain why your KS failed, before it's even launched. This will highlight risks and liabilities that may have been invisible to you. - Recognize that your ideas are probably not as good as you think they are. It's probably not enough to simply target a vacant niche anymore, because most niches are vacant for a reason. You need something truly special on its own, not just copying existing toys and slapping on a different theme. So, I guess my advice is to think very carefully before embarking on a Kickstarter campaign. The problem is that most people don't know how to think carefully. I recommend the book, "Thinking: Fast and Slow" for insight.
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