Wed, 23 November 2016
Physical products are purchased by real people, people who have to become aware of the product in order to purchase it. That may sound like an obvious statement but too often those who create brands around physical products imagine all these buyers out there but don’t take the time to think through how they are going to find those actual people. On this episode of Freedom Fast Lane, Ryan chats with Khierstyn Ross about how she’s used crowdfunding multiple times to not only fund the creation of a physical product but also to build an audience of people interested in the product. You’ll get some great ideas from this conversation.
Crowdfunding is powerful but it’s not easy.
Many people think that crowdfunding sites like Kickstarter and Indiegogo are no-brainer ways to raise money to start a company. But the reality is that for every successful crowdfunding campaign there are many that fail. It takes hard work, market research, and a great campaign strategy to get your brand off the ground using crowdfunding. Khierstyn Ross has learned her lessons the hard way and through that process has built a business responsible for over $1.2 million in crowdfunding success for her clients. On this episode Ryan picks her brain about the strategies and approaches that have worked well to build sustainable physical product brands, so be sure you listen.
How crowdfunding can help you build your audience.
One of the most difficult aspects of any business is the marketing. You’ve got to find effective and appealing ways to get your products in front of the people who are most likely to need and buy them. Khierstyn Ross has discovered that though they weren't originally intended for building an audience, crowdfunding platforms are excellent ways to find those raving fans. Just think about it: Kickstarter and Indiegogo campaigns are raising funds from people who are excited to see the product created so that THEY can use it. What better audience could you have? Khierstyn shares how she advises companies to make the most of the crowdfunding audience, on this episode.
You’ve got that great email list. How can it help your crowdfunding campaign?
When Ryan asked Khierstyn Ross how successful crowdfunding campaigns are using existing lists of customers or prospects she was quick to say that one of the biggest mistakes she sees is that though someone may have a large list, they often have let it go cold. In other words, they haven’t been staying in front of their list members often enough, providing good and helpful content all along. So when they suddenly show up in inboxes with an ask (like a crowdfunding campaign), people tend to view it unfavorably even though they did sign up to be on the list once upon a time. On this episode, Khierstyn shares the best ways to avoid that kind of response and get your list fired up about your campaign.
Is a crowdfunding campaign a good option for your next physical product?
What might it be like if you had all the money you needed to purchase, develop, brand, and establish your physical product line? Crowdfunding can do that for you. But you’ve got have the right product and the right approach. Khierstyn Ross has walked alongside many campaign managers to help them navigate the ins and outs of a successful product launch and on this episode she shares what she’s learned about good and bad products for crowdfunding, and how you can do your best to optimize your product line for a successful crowdfunding launch.
Outline Of This Great Episode
Action Steps From This Episode
FOR GETTING STARTED: Start building your email list YESTERDAY. If you can gather a crowd of people who are excited about your products and brand, any crowdfunding campaign will be that much easier to make successful.
FOR GREATER SUCCESS: Create and use Facebook groups to invite people into a private access club where people can get swag, discounts, etc. - then use those people to promote the products as a street team.
Connect With Today’s guest: Khierstyn Ross
Resources Mentioned On This Episode