MFMM Kickstarter Postmortem
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My startup (Moveable Feast Mobile Media) tried to continue bootstrapping, fueled by Kickstarter. The campaign ended two weeks ago. We set an ambitious funding goal (for Kickstarter) - and didn't meet it. But we learned a lot along the way; lessons and information that will inform our future and our decision-making. This presentation shares some of that at a high level. (For more of the details, please feel free to reach out to me.)
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MFMM Kickstarter Postmortem
- 2. copyright © 2015 Moveable Feast Mobile Media, Inc. The MFMM Kickstarter Campaign: A Qualified Success
- 3. copyright © 2015 Moveable Feast Mobile Media, Inc. iPhone Worldwide Sales iPhone 6 iPhone 5s iPhone 4iPhone 3/3G iPhone 5 copyright © 2015 Moveable Feast Mobile Media, Inc. iOS Moveable 1.0 Released May 2011 Historical Background
- 4. copyright © 2015 Moveable Feast Mobile Media, Inc. concept: crowdfund Moveable to the next level Moveable 2.0 $ direct communica8on social communica8on
- 5. copyright © 2015 Moveable Feast Mobile Media, Inc. Campaign Results
- 6. copyright © 2015 Moveable Feast Mobile Media, Inc. raised: $10,502 we did not reach our funding goal. but… copyright © 2015 Moveable Feast Mobile Media, Inc. Goal: $39K 27%
- 7. copyright © 2015 Moveable Feast Mobile Media, Inc. we raised more money than 20% of successfully funded projects on Kickstarter copyright © 2015 Moveable Feast Mobile Media, Inc.
- 8. copyright © 2015 Moveable Feast Mobile Media, Inc. and our backers were passionate! Average Contribution $ 141.59 $ 75.96 “This project really is a great idea…. So many possibilities! I hope you will relaunch the project.”
- 9. copyright © 2015 Moveable Feast Mobile Media, Inc. TwiRer Engagement
- 10. 63% growth in TwiHer followers during campaign the vast majority are very ac8ve Tweeters copyright © 2015 Moveable Feast Mobile Media, Inc. Kickstarter Launch 26 Feb 15
- 11. …and our audience is influen8al copyright © 2015 Moveable Feast Mobile Media, Inc. worldwide average Klout score 40
- 12. copyright © 2015 Moveable Feast Mobile Media, Inc. Website Engagement moveable feast mobile media
- 13. traffic to our website increased drama8cally as did engagement on the site copyright © 2015 Moveable Feast Mobile Media, Inc. Kickstarter Launch 26 Feb 15
- 14. …and we met a lot of new people, who helped drive sessions up by almost 300% copyright © 2015 Moveable Feast Mobile Media, Inc. new visitors returning visitors 2.8x # of homepage sessions 21% 79% 31% 69%
- 15. copyright © 2015 Moveable Feast Mobile Media, Inc. Product Engagement
- 16. a significant rise in publisher account requests from all over the world… copyright © 2015 Moveable Feast Mobile Media, Inc. map created with CartoDB publisher signups Kickstarter Launch 26 Feb 15
- 17. … and a small gain in app downloads* copyright © 2015 Moveable Feast Mobile Media, Inc. app downloads Kickstarter Launch 26 Feb 15 cumula8ve monthly * this tends to support our strategy hypothesis that publishers will drive app demand
- 18. copyright © 2015 Moveable Feast Mobile Media, Inc. What We Learned
- 19. copyright © 2015 Moveable Feast Mobile Media, Inc. What We Learned about start early!! rela8onships (journalists, bloggers, fans, etc.) are crucial, and they must be built before “pulling the trigger”
- 20. copyright © 2015 Moveable Feast Mobile Media, Inc. a crowdfunding campaign is a full-‐8me job -‐ for several people it takes a village What We Learned about
- 21. copyright © 2015 Moveable Feast Mobile Media, Inc. the goal is to draw people to a website, and online channels are the best tools crowdfunding is content markeVng What We Learned about
- 22. copyright © 2015 Moveable Feast Mobile Media, Inc. we gained new fans and re-‐engaged exis8ng ones there is an audience moveable feastWhat We Learned about
- 23. copyright © 2015 Moveable Feast Mobile Media, Inc. they are listening we encouraged product trial, and received some highly posi8ve feedback -‐ both explicit and implicit What We Learned about moveable feast
- 24. copyright © 2015 Moveable Feast Mobile Media, Inc. they voted with their wallets average pledges were almost double the Kickstarter average What We Learned about moveable feast
- 25. copyright © 2015 Moveable Feast Mobile Media, Inc. crowdfunding demands sustained pre-‐campaign marke8ng, and/or a large pre-‐exis8ng audience our # 1 lesson so… What We Learned about moveable feast
- 26. copyright © 2015 Moveable Feast Mobile Media, Inc. What’s Next?
- 27. copyright © 2015 Moveable Feast Mobile Media, Inc. Options: • Seek Enabling Client(s) • Recruit Seed/Angel Money • Form JV/Partnership • Sell as Acquisition • Launch New Crowdfunding • Scrub (see sign to right)