Most Kickstarter Projects Fail to Deliver on Time

Most Kickstarter Projects Fail to Deliver on Time

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If you contribute to a Kickstarter project, don’t expect to see the finished product in a timely manner.

Of the top 50 most-funded Kickstarter projects, a whopping 84 percent missed their target delivery dates, according to an analysis conducted by CNNMoney.

When CNN contacted the creators of the 50 highest-funded campaigns, all of which boasted estimated deliver dates of Nov. 2012 or earlier, the site found that only eight of them hit their deadline. Sixteen hadn’t even shipped yet, while the remaining 26 projects left the warehouse months late.

The most delayed project, according to CNNMoney’s data set, was ZPM Espresso’s home espresso machine, which is nine months overdue, and now has an expected ship date of mid-2013.

Though Kickstarter proudly focuses on artistic clients, most of the site’s top-funded projects fall into the tech, design, and video game categories — often the most time-consuming ventures. CNNMoney noted, however, that many of these projects did not expect to earn as much money as they did, ultimately requiring them to produce more products and push back ship dates.

“In the first 24 hours, everyone is happy and slapping your hand,” Brendan Iribe, CEO of virtual reality headset design company Oculus Rift, told CNNMoney. “And 48 hours later, the reality sets in. There’s a bit of fear: We’re going to have to make all of these.”

Originally intending to launch its product last month, Oculus Rift is now aiming for a March 2013 shipping date.

Still, some tech projects made it out on time, including MaKey MaKey, a circuit keyboard that turns any electrically conductive object, including a banana, into a link to a PC. Having raised more than $568,100, MaKey MaKey met its August estimated delivery time.

Additionally, CloudFTP, a plug-in adapter that connects to any USB storage device and wirelessly transmits content to other mobile devices, shipped on time in February, raising more than $262,350. The last of the tech-related projects that made its Oct. 2012 shipment deadline was CineSkates, a $486,518 project that built portable tripods with wheels.

Most of the worst offenders, as calculated by CNNMoney, are video games, software, or mobile accessories that range in estimated delivery dates of March to Nov. 2012. Check out the full chart online.

Kickstarter made headlines earlier this year when it said that it leaves money issues to the backers and the project creators, even if the project fails. The controversy, however,prompted Kickstarter to tighten its rules and ban product renderings or simulations. Kickstarter projects can now only show images of how the product looks right now, not how it might appear once funding has been secured.

One big Kickstarter project getting ready to ship is the Android-based Ouya console. The company said that a dev version of the console will start shipping on Dec. 28, and it recently started allowing users to sign up for their official Ouya usernames. For more, see PCMag’sinterview with Ouya founder Julie Uhrman.

Also check out PCMag’s Q&A with Kickstarter co-founder Yancey Strickler. Also, check out the slideshow above of Cool Kickstarter Projects.

For more from Stephanie, follow her on Twitter @smlotPCMag.

http://www.pcmag.com/article2/0,2817,2413382,00.asp

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Kickstarter

You must be, if you aren’t comfortable with the site, Kickstarter.

CrowdextraordinaryWhile the U.S. occupations sector continues its slow, not-very–but-yet-forward march, one area of the market still lags. Banks have merely really recently started to offer. Both individuals and smaller organizations have faced tight credit conditions compelled by risk – adverse banks; mortgages have been hard to obtain, and tiny business credit has been tighter nevertheless. From 2008 to 2011, percentage was dropped 20 by loans to smaller businesses. The net outcome went to quiet an already hushed restoration.

These traits haven’t been limited to america. Funding has been even tighter in Europe, particularly in troubled markets including Spain. While there are a few signs of a thaw, the occasions of basic credit spurring fresh and little entrepreneurs to create new and modern organizations seem increasingly of the preceding.

In fact, it is versus the standard lender funding building. Just this previous Friday, infamous Harvard Business College professor Clayton Christensen officially proclaimed crowdfunding “tumultuous,” with a wonderful chance of “taking root in these underserved areas” outside of high-tech and health care “that traditional brokers have generally found unattractive.”

Currently, more than 20,000 jobs have been located on your website because the Ny City-based business’s 2008 launching. Kickstarter vets jobs in progress (accepting about 75% of people) and serves the strategies, that may last around 60 times, free of charge.

The business simply makes money when the campaign reaches its financing target — at that point, Kickstarter receives 5% of the campaign’s take, and Amazon, which procedures the credit card trades also receives between three and 5% of every trade.

Achievement has altered the site’s character radically. Once creative projects to be funded by a community where individual inventors and indie artists sought out small sums, Kickstarter has been changed into a system where organizations post rake and strategies in big quantities of funds.

Roughly the information factors within the economic and credit company tell us. What they can not reveal is the undeniable fact that as normal sources of credit and funds have withered, alternative sources have started. We have been so focused on the negative changes brought about from the financial situation of 2008 – 09 that we may have disregarded to discover some highly favorable and refreshing inclinations.

Despite the extraordinary interest that celebrity Kickstarter jobs like String get, they’re uncommon. Most jobs increase less than $10,000, and till a year ago, none had raised more than $1 million. But as Kickstarter’s scale rockets, breakaway jobs like String are getting not just more noticeable but more typical. The $ 1 million milestone was passed by seventeen Kickstarter projects last year. Six of these, like String, were gadget jobs, that are probably left inside the most embarrassing place after large success. What began as a model and a vision can transform in to a mass – making commitment within a few of days, when a Kickstarter undertaking including hardware takes off.

Think about the problem of Kickstarter. It may be no possibility that the web site began in April 2009, simply as the worldwide recession was reaching its peak (or nadir, depending on your personal perspective). With the virtually complete evaporation of traditional kinds of financing, especially for high – threat company careers with blast – for – the – moon dream, an totally various approach was obtained by Kickstarter : the Net was employed by It to hyperlink folks with ideas to people with money. In Kickstarter’s case, nonetheless, the relationship isn’t to individuals who have lots of money it’s to anyone prepared to maintain somewhat for a theory that inspires, intrigues or intrigues.

Kickstarter is an action in what remains called “crowdfunding,” and its numbers are beautiful. Relative to an original printed numbers, because the web site introduced less than four years back, three zillion individuals have pledged more than $400 thousand to 35,000 different effective jobs. The majority of those have raised $1,000 to $10,000, but more than 400 jobs have raised $100,000 to $1 million. The most successful jobs have been arranged in the arts (especially film), but the largest venture is a smartphone watch called the Pebble E-Paper Watch that’s prone to begin time this year; its manufacturers raised more than $10 thousand in guarantees created by almost 70,000 persons. The introducing has had several delays, but that has small regarding approval.

There is every reason to suppose the product is in its youth. With as in 2010, rendering it that simpler to encourage the transferring of the OCCUPATIONS Work last year, plenty of the constraints on increasing funds to finance private jobs could be raised just. There’s also a few other crowdfunding sites targeted on benefits and non-profit endeavors, but the increase in Kickstarter discussions to a truth that’s all but decreased in the focus on dwindling lending by traditional banks: We’re today living in a world-wide awash in funds, much of it inexpensive because of decreased interest levels. Instead than money going in huge parts from a tiny quantities of banks, it may possibly now blood circulation in small portions from a huge quantity of small dealers seeking to become a part of yet another new point.

This democratization of monetary may with time have as significant an effect on conventional lending and economic as digital sound has had on the conventional record company. It is actually the substantial disruptive model, threatening established gatekeepers and simultaneously opening entrances. While Kickstarter does not yet trouble the super – funding supplied by investment banks to regulators and global companies, there are signs of divides in that world also, as large companies prevent business ties and banks promptly to private and institutional dealers.

Consider the present representation of Ricky Sullivan and his blog “The Daily Meal.” At the beginning of the period, Sullivan decided that rather than hosting it at The Beast, he may create a business called Dish Publishing with an initial viewpoint. In contrast to counting on customers (the aged diary style) or pay-walls (the fresh style for digital publications), he previously only request these who valued the site’s posts to invest $19.95 annually for total accessibility in order to fill the company’s overhead; those who don’t sign-up might still get your site, but not every thing. In its first a day, the site raised more than $300,000 from 11,000 persons. Sullivan stated it had increased half a thousand dollars, if the web site began.

For many years the media have lamented that its gains were failing in the face of free articles furnished on the internet. Printing publications have been dying or shriveling, and on-line sites have been restricted to increase decent advertising dollars to safeguard a good part of the overhead commanded by printing. Articles about the net could be straightforward to distribute relative to printed webpages, but someone still has to give it and print it, and cash is needed by that. Money has been in short – supply in the media item, but Sullivan has confirmed with his elegantly simple check that when you stop bumping your brain against closed doors, you sometimes find that there is an open entrance just several steps aside.

The amount of every among these new channels is tiny compared using what is evaporating or being disrupted. The numbers of persons including money is not small, however, and the numbers may effortlessly raise, as broadband and computer literacy become a lot more common.

These developments have occurred in a seemingly unconnected globe and coincident compared to that of standard backing. Company lending figures take no concern of Kickstarter and crowdfunding; Sullivan’s experiment with The Dinner has so startled conventional push that folks are only beginning to realize how strong, robust and perfect something it might be – that is, when people devote some thing for posts they worth because they get that everything costs some point.

Dysfunctional banks plus a bad restoration are identified quantities. The potential efflorescence of democratized capital for countless a lot of jobs wasn’t much anticipated, nevertheless here it’s. And if it accumulates steam, it might challenge established stations, disrupt entrenched techniques of performing organizations and launch a trend of new businesses and new ideas that have only been lacking a quit beginning, and which the drained banks of the 20th century did maybe not notice like a fantastic untapped well of opportunity.

In the short run there’s no problems. Crowdfunding models can be found in their youth and not at all driving the macroeconomy. But after a while they’re more prone to grow, that is worth trying to get the outcomes. Profit-driven conventional finance and tax-and-spend welfare state instructions have major synergies. May be transformed into dollars and cents, in to earnings to be made and earnings to be taxed they both thrive if the difficulty of person desire. If technology starts to damage the ideas of pecuniary capitalism, the results might be within some amazing places.

Free shout ou!- You are not alone #comicbook #Kickstarter

A 150+ page anthology of hope with tales of overcoming bullying, homophobia, racism, depression and abuse. You Are Not Alone

http://www.kickstarter.com/projects/1429812861/you-are-not-alone-1

YOU ARE NOT ALONE button

WE DID IT! NEW STRETCH GOALS ADDED BELOW

OUR PROJECT

Over the past three years GrayHaven Comics has released over 17 editions of THE GATHERING anthology, one shots like THE DUNES, ARCHIVES and THE DARK and are about to launch the PHASE TWO mini-series.

YOU ARE NOT ALONE is our most ambitious project to date. This very special anthology (released in trade paperback size) will feature the work of nearly 100 comic book creators from small press talent to pros like Raven Gregory, Dirk Manning, Patrick Shand, Gail Simone and Len Wallace. Once again new and upcoming creators will have an opportunity to see their work published alongside some fantastic pro creators for an important creative cause.

To those who have suffered in silence facing abuse because of the color of your skin, sexual orientation, weight, or interests. To those who are depressed and feel there is no place left to turn…YOU ARE NOT ALONE.

Along with our own money that’s been allocated for the project, successful funding of this Kickstarter will allow us to print upwards of 1000 copies of the book.

YOU ARE NOT ALONE- Variant Cover by Elias Martins

Why We’re Doing This

What good is having the ability to reach people with our stories if we can’t put that to use in a beneficial way?
It goes beyond the victims of Sandy Hook Elementary School. It goes beyond the victims of Aurora. This is not about gun violence or gun control. This is not a political statement. This is a statement of being good to your fellow man.
This is about a 14 year old boy who took his own life after being bullied for coming out to his friends and classmates.
This is about a young African American who was tied to a locker at his High School as classmates taunted him with cheers of ‘slave for sale’
This is about the 11 year old developmentally challenged child who was held down on a kitchen table by four adults who took turns beating him.
This is about the victims of physical abuse and others like them
This is about the children who are ridiculed or worse because of the color of their skin. Their sexual orientation. Their mental capacity. Their weight. Their interests.
This is about the children who no longer feel safe going to the movies or to school.
This is about the millions of kids who suffer abuse and suffer in silence thinking that no one cares.
This project is designed to show that we hear you. People care. WE CARE. And what they can do to get help.

YOU ARE NOT ALONE is a very special Graphic Novel Anthology featuring stories inspired but not based on real life events like the ones mentioned above.

With this book we hope to give people the means to get help and know what to do should they ever witness or face such situations themselves. .

You Are Not Alone- Standard Cover by George Amaru

NEW STRETCH GOALS ADDED:

Thanks to you, this project will become a reality and now we want to go…bigger…and the following STRETCH GOALS will help us get there.

In addition to the newly added rewards below, increased funding will allow us to create even more copies (over 600 additional ones) of this very special project.

$3200: INCREASED PAGE COUNT– We were already looking at over 150 pages for this volume but had to leave a lot of good stories out due to print costs. If we reach 3200 we’ll increase the page count to 200 pages. It will also give us an opportunity to print an additional 150 copies of the book.

$4500: 2ND VARIANT COVER UNLOCKED– Pledgers already have a choice between the Standard and Variant Covers, so we’ll give you a 3rd option with another Variant Cover. When this level is unlocked we’ll be able to print another 250 copies.

$5500: THANK YOU LIST– At this level every pledger will get to have their name printed in the book as a contributor and every backer pledging $5 dollars or more will get a YANA Button and Bookmark. We will also be able to add another 250 copies of the book to get printed when this level is unlocked.

YOU ARE NOT ALONE COVER T-SHIRTYOU ARE NOT ALONE COVER T-SHIRT
YOU ARE NOT ALONE- LOGO T-SHIRTYOU ARE NOT ALONE- LOGO T-SHIRT

Crowdfunding Is Marketing Pure and Simple

Crowdfunding Is Marketing Pure and Simple

Crowdfunding is undoubtedly this year’s hottest topic and trend and with good reason.

The ability to publicly raise funds for your idea, product, or company, by gaining access to millions and millions of potential investors, gives anyone with an Internet connection access to a little or a lot of capital.

photo credit: Haags Uitburo via photo pin cc

Now, anyone with a good idea and the ability to write a compelling description of that idea, can turn to services like Fundable, Kickstarter orIndiegogo to raise needed funds by offering incentives such as product, early access and even private receptions.

The recent passage of the Jumpstart Our Business Startups Act (JOBS) only accelerated the mainstream acceptance of crowdfunding and eased some of the restrictions placed on small businesses in need of capital. The JOBS Act opens the door to even more opportunities by allowing companies to offer stock and equity to individual investors much like they might by partnering with a venture capital firm.

Okay, enough with the backstory.

While the media covers the overnight successes and over the top fundraising sensations, such as Pebble, created through crowdfunding, the fact remains crowdfunding is simply a mechanism that marries a potential community with an accounting function.

The promise of “create a project” and “watch the funds come in” is in stark contrast to the reality of create a project, market like crazy and maybe the funds come in.

In a way, crowdfunding is simply preselling your idea or product and that takes a marketing mindset pure and simple. In fact, it may actually take an even more strategic approach because you may not have a track record, any proof you can actually pull your idea off or raving fans and success stories to rely on for referrals and testimonials – all essential marketing assets.

The other element that makes crowdfunding such a marketing play is the campaign nature of how most services operate. Generally your funding campaign is an all or nothing proposition on the clock.

In other words, if you want to raise $10,000 you’ll have a set amount of time to raise the money and if you come up even a little bit short, you don’t get anything.

One of the most intriguing marketing related aspects of crowdfunding is the public nature of the campaign. For some companies, ideas and products this is their public coming out and the buzz created in a properly executed crowdfunding campaign can carry a business swiftly into a phase of growth or momentum.

So, in many ways the actual money raised is only a part of the opportunity that exists in this approach.

Since this trend has so much to offer small businesses and entrepreneurs of all kinds and since I’m making a case for the element of marketing in this space, I thought it would interesting to create a series of posts going deep into the elements of a successful crowdfunding campaign and build a case study using a real and existing campaign.

The series will consist of five posts, including this one, and end in conjunction with a completed campaign in about 30 days. (You can get the entire series by subscribing tothis RSS feed)

The series will unfold as follows:
Crowdfunding: A playbook and case study

  • Installment 1: Incentivizing the pitch
  • Installment 2: Sharing the story
  • Installment 3: Building the buzz
  • Installment 4: Managing the tribe

Meet the case study subject

The start-up raising funds is called ZebraCard. The campaign is listed on Fundable.com and at the time of this writing has about a month left to meet its all or nothing goal of $5,000. (Full disclosure: I thought this was a cool project so I backed it and that’s what led me to write this series.)

Bardcode example from ZebraCard

Quick pitch: ZebraCard.me creates a QR code or barcode for your business card that points to a URL where each user’s interaction with your business card data is tracked.

Value proposition: Data in all directions. Business professionals will get more data on the performance of the business cards in circulation than ever before possible. Card scanning applications can increase the accuracy and breadth of data that their application provides.

I’ll be sharing thoughts from ZebraCard founder Nick Carter and Fundable Founder Wil Schroter throughout this series and offer advice as well as observations on the progress of the campaign.

One of the first lessons that ZebraCard had to learn when launching their campaign is that crowdfunding, while all the buzz in online circles, is still a relatively new and unknown concept to most.

According to Carter, “We discovered, surprising to us, that people were totally unfamiliar with crowdfunding. We had to make a quick adaptation in messaging to first educate our audience.”

The next important pre-launch consideration for any marketing initiative really, but particularly when you are trying to introduce a new concept, is clarity and simplicity of message.

You must be able to explain what your thing does, why they should back it and what, precisely, you want people to do in a way that leaves no doubt and has them thinking – Oh, I get that.

Again, returning to Carter’s lesson: “It’s easy to assume the audience understands what you’re asking of them, but just as any effective marketing, we had to be clear about a call-to-action in order to get results. We had to say, go to fundable.com/zebracard and pledge $75 to get your free business cards.”

Stay tuned as I follow Carter and ZebraCard down the path of getting crowdfunded. Next week we’ll tackle crafting the pitch and creating the pitch perfect incentives.

http://www.ducttapemarketing.com/blog/2012/08/29/crowdfunding-is-marketing-pure-and-simple/