In prep for Wednesday Nov. 14th Google+ Hangout / Blyve event titled Top 5 Tips on Creating a Kickstarter Campaign, I reached out to Martin over at Memoto whose campaign is 17 days away from being funded approximately $500,000 for his company’s lifelogging camera. Martin gave me some great insight into his campaign and what made it so successful. Read the Q&A below and remember to tune in Wednesday Nov. 14th at 9am pacific / 12pm eastern to talk with another successful Kickstarter, Chuck Freedman and his children’s book The Plow Family Adventures.
Q. Tell everyone a little bit about your company.
A. We’re Memoto, a Swedish startup developing the worlds smallest wearable lifelogging camera – allowing you to record your every moment and navigate through them via our cloud service and mobile apps.
Q. Why did you choose Kickstarter to fund your company and product?
A. Crowdfunding is the perfect entrepreneurial launch tool – for us it meant an opportunity to do a market estimation (or at least validate product demand), pre-sell units and get customer funding for production in advance (solving the liquidity equation), as well as mobilize our supporters and get media coverage as well as incredible engagement in social media and directly on mail. We have implemented many product design suggestions coming from our backers, everything about the process feels very open source, direct and honest.
Q. Were you surprised on the outcome of your Kickstarter campaign being successfully funded even before the deadline?
A. Yes. We had no idea. We thought we could (pre-)sell a few hundred cameras – at the moment it’s over 2000. We’re amazed and humbled by the positive response, and working hard to fulfil our promises to all our wonderful backers.
Q. What was the most important content for your campaign? the video, your rewards, product details?
A. The most important part was PR. The work started long before the campaign, with setting up a blog and engaging the Quantified Self movement, sharing good content and showing a commitment to the market space. That foundation also helped us strike up genuine, ongoing conversations with the backers and media once we launched the Kickstarter campaign.
Q. Do you have any tips on creating a great video for a Kickstarter campaign? Do you need a huge video production budget?
A. The most important thing with your Kickstarter video is that it is honest about your product, your team and your abilities to fulfill what you offer to the Kickstarter community. That might require a professional video producer to achieve but it’s probably not always necessary.
Q. What do you recommend be included in a reward(s) to your backers?
A. You should offer rewards in both ends of the price spectra: something low for the ones interesting in keeping in touch and helping out with what little they have, and something really high for the ones that really want to be a part of the project and make a difference. And of course everything in between, where you offer your actual product packaged in a good deal for the Kickstarter backers.
Q. How did you promote your campaign outside of Kickstarter?
A. Targeted PR and ambitious community management. That is, speak with the right media and present the project in a way so that it matters to them and at the same time invest many, many hours and hard work in engaging people that you see might be interested in your coming product: the Kickstarter community, people expressing interest in products adjacent to yours and people of general “early adopter” kind.
Q. What are the next steps of your campaign once the campaign is over?
A. To get the product out to the backers! It’s more or less the one and only objective from the day the campaign is over.
Q. When will the product ship? How much will it cost?
A. Shipping to Kickstarter backers starts in February, there are still units left on the $249 backer level including free worldwide shipping. The price for a Memoto camera after the campaign will be $279 USD.
Q. How do people find out more info about you or back your project on Kickstarter?