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How we reached 573% of our goal before even launching

Posted: Fri Feb 20, 2015 7:38 pm
by decibite
Hey there fellow Kickers!

One of the biggest challenges we all face is knowing if our project is going to get funded. This is the same challenge that all businesses and startups face.

In order to guarantee success, we need to truly validate the business idea.

Simple way to do this?

Figure out...
- Who are your customers?
- What are their problems?
- What solution can we offer?

In other words, you need to get out there and start interacting with your potential customers! We found reddit to be a great place as they have a bunch of individual communities (sub-reddits) that include your target audience.

After doing that, we went over to BackerClub. Unlike Prefundia or PitchFuse, BackerClub allows you to see exactly how many people will back you at what amount. This is critical to truly validate your offering. Since you can't yet get money in hand, this is the next best thing.

Because we validated our project, we converted 22% of all views from BackerClub into potential backers. Since BC backers tells us what level of support they potentially give, we know the average potential backer is worth $176.17 for our core product.

Thus, by having a simple landing page that converts between 5-10% (depending on the variation that is shown). So even at just 5%, 1 visitor to the site = $8.80 ($176.17 * .05). So with 136 emails, we have the potential of another $23,959.12 in support. With a goal of just $6,000, I think we're going to blow this out of the water!

The key thing here is to know your numbers and get true validation!

Most of you are probably not our target audience, but if you want to check out our site, it is http://www.decibite.com. Yes, even with the failed text, we've still been converting well.

Feel free to ask any questions you may have!

Re: How we reached 573% of our goal before even launching

Posted: Sat Feb 21, 2015 11:50 pm
by OmnivoreInk
I used to use Reddit many years ago.... (well, maybe 3) and I didn't really care for it, as at the time I was trying to post to it you were just sharing links to webpages (news, press releases) you created and they always seemed to get buried so no one ever saw them.

Guess I'd better check it out today and see what these SubReddits are all about.

Re: How we reached 573% of our goal before even launching

Posted: Thu Mar 12, 2015 7:57 pm
by miramaxa
Reddit is't right place for now, people get buried .