#1. Bunch O Balloons
How many of you have come across Bunch’O Balloons? I bet you must have seen them and probably used them on a sunny day.
They sell $100M a year! How did they start? A simple Kickstarter campaign asking for $10K. They eventually got a whopping $926K in pre-sales. The good thing is they delivered on time too. They are extremely successful today, but here are the 3 main things they had it absolutely right:
- A sure-fire product, proven a little in the market already, with a patented design
- Genuine campaign content with clarity on timelines of delivery: https://www.kickstarter.com/projects/bunchoballoons/bunch-o-balloons-100-water-balloons-in-less-than-1
- Post-campaign commitment delivered
Ssh. They used an agency to get all this right 🙂
Pebble is the pioneer of smartwatches wave well before iWatch. They shot off the roof after their Kickstarter campaign where they asked for $500K and got $20M!
They lost their glory now, but by then their success was huge and inspired a wave of startups.
Is it good for small startups only?
Absolutely not. Crowdfunding campaigns will be hugely positive to be used as a launch strategy as well as a scaling strategy. Many companies like Swytch Bikes have used crowdfunding to bootstrap their designs, whereas companies like Pebble used them to catapult their market share.
In the right hands, crowdfunding campaigns can provide you a loyal base of committed customers.
Join us in the next webinar with Jes Bailey from Crowdfund 360. We will discuss more on this.