Right now the crowdfunding sector is doing extraordinary things. Kickstarter & others are helping these awe-inspiring innovators to get their idea/products to market. At a time, when it’s challenging for startups & small businesses to obtain funding from the banks. BIG high 5 everyone!
People would love their projects unexpectedly to have 1000% funds pledged & 10000 backers. Potentially the dream could become a bigger one but knowing your numbers when it comes to getting the rewards delivered to your backers is extremely important & will only help make your idea an reality.
First question I always ask Kickstarter campaigner is ‘What is your shipping strategy?’ Majority of the time the replies are very vague or nothing at all *shrugging shoulders
The shipping strategy needs to be applied the same way as marketing which is an valuable part of any crowdfunding project. Both can kill campaigns if not done correctly. It’s just that the shipping does it later & slower. Leaving you with upset and angry backers.
Warning: Sad Story Below
BUT they set WORLDWIDE reward shipping at the SAME low rate of $20 regardless wherever the backer was without realising that carriers have variation pricing to different parts of the world.
1000 backers were worldwide deliveries. On average they undersold by $10 each = $10000 negative! RIGHT THERE.
The project was put on hold for 18 months to obtain further funding. It was killed off soon after.
By not having a good shipping strategy and hike of backers every cost grew from marketing to manufacturing. They couldn’t sustain the forever increasing cost & $10000 logistics loss.
Invest your time, researching into the logistics process & get your numbers correct! If you do this & be amazing at everything else, you will have a successful Kickstarter campaign.