How we reached 573% of our goal before even launching
Posted: Fri Feb 20, 2015 7:38 pm
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!
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!