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What does it take to raise $1M?
Posted: Wed Apr 25, 2018 5:34 am
by alexissmith
One day I want to just go for it and try to get a huge campaign going on. I see tons of healthy campaigns raise funds in the hundreds of thousands, but very few in the millions.
I see that most of the products in the million dollar range are not that much better than the others, so I know it all comes down to marketing.
What separates a $100k campaign from a $1M campaign? Do they just have huge advertisement budgets or what?
Re: What does it take to raise $1M?
Posted: Mon Aug 13, 2018 4:26 am
by WildFlower
I think in addition to marketing it has to be a product that can cause discourse. Have people talking about it due to the marketing and have places like buzzfeed make a post about it without you even paying for it since it's such a interesting product. So marketing to get the word out and have a product that can take it even further.
Re: What does it take to raise $1M?
Posted: Fri Sep 14, 2018 3:38 pm
by sbriggman
This is a very good question.
Marketing budget definitely factors in, along with product-market fit. It certainly helps when there is a built in consumer community that can talk about the product if it's cool, innovative, or particularly useful.
You can come up with awesome functionality or a product that does a lot, but you can't really fake demand. You can only uncover it. You can get people "excited" but you can't change the core demand in the marketplace.
I think the best products and entrepreneurs discover a demand for something that most people didn't realize was out there.