Dreaming of launching a kickass crowdfunding campaign for your project? There’s one common Kickstarter mistake you need to avoid at all costs. It’s super important that you keep this in mind when researching how to plan your Kickstarter campaign.
Let me explain …
The key to success on crowdfunding sites is to really understand the mindset of potential backers. That includes knowing when the right time is to launch your campaign.
One thing I see over and over again – and in fact, I’ve been guilty of it myself – is people often make the common Kickstarter mistake of launching their campaigns in the fourth quarter of the year. On the face of it, it sounds like a good idea, right? With Black Friday and Christmas around the corner, surely that means increased consumer spending and a greater likelihood of reaching your goals? Right?
The holiday season doesn’t mean more backers. In fact, it’s likely to be the opposite.
When considering how to plan your Kickstarter campaign, scratch the surface and work out what’s going on in the minds of your potential backers.
Most campaigns, if successful, will take months before the product is manufactured and delivered. Knowing that, backers are reluctant to spend their holiday budget on something they may not see for six months. After all, they’ve got more pressing things to spend their money on, like gifts for friends and family!
From a marketing perspective, there’s also an increased advertising cost you’ll need to factor in. Around Black Friday, marketing costs can spike to three or four times what they are during offseason. Why? Well, it’s the time of the year where there’s a feeding frenzy of competing advertisers all vying to get eyeballs on their products.
All that competition drives costs up!
Long story short – avoid making the Q4 Kickstarter mistake. Don’t do it!