LEARNING FROM KICKSTARTER & INDIEGOGO: What These Crowdfunding Platforms Can Teach Us About Marketing Campaigns
In a humorous – and highly paradoxical – turn of events, a group of tech-savvy entrepreneurs hosted an Indiegogo campaign with a $500 goal so they could fund their Kickstarter video production.
(Read that several more times if you have to.)
The video, posted by user Baron Von Husk, explains how they need funds to create a “pretty good” Kickstarter campaign, from which they’ll get the funds to back their actual tech idea (which has something to do with social media sites, from what we’ve gathered).
When asked why in that order – Indiegogo, and then Kickstarter – the host promptly turns around and asks the first person who passes by; “Do you know what Kickstarter is?”
Yeah, it’s some way to make money … over the computer.
“Do you know what Indiegogo is?”
No, I don’t.
KICKSTARTER VS. INDIEGOGO?
It’s a loaded question, having to choose crowdfunding platforms. While Kickstarter has certainly made a name for itself – and we’ll tell you why in a minute – Indiegogo is still going strong. In fact, its technology category trumps Kickstarter’s own, although Kickstarter’s gaming community is a force to be reckoned with.
Other than that, there’s something to be said about both platforms strengths and weaknesses translate oddly well into marketing campaigns. We took three aspects of both platform’s systems and rewrote them into a pretty cool do’s-and-don’t’s list for video marketing campaigns. Check it out.
MEDIA COVERAGE: KICKSTARTER
So; how come everybody knows Kickstarter when Indiegogo officially launched first?
As it turns out, the media loves Kickstarter because of their quality control. They have higher standards for campaign approval and thus weed out the impressive and fund-worthy from the just-for-kicks kind of campaigns. For journalists who hate digging through campaign after campaign just to find a credible story, Kickstarter is definitely a godsend.
TRANSLATION: QUALITY FOR CREDIBILITY
It’s always better to have one high-quality video rather than several versions of slightly crappy videos. For people to choose you, you need to have credibility. And in this age where any kid with a Smartphone can shoot a video and edit it, true quality equals high credibility.
VIDEO HOSTING: INDIEGOGO
You’d think the point would go to Kickstarter video production for having its own video hosting, but Indiegogo does a good two-for-one by using YouTube. This means your video on Indiegogo is also available on YouTube for people to check out. Twice the platforms means twice the views and comments, which also means twice the chance of being discovered, shared, and funded.
TRANSLATION: MULTIPLE OUTLETS
When hosting a video marketing campaign, you’ll want to spread your video out on all possible social media and hosting platforms. That way, people who only have Facebook accounts will have just as much of a chance to see your video as those with YouTube and Twitter accounts.
Exclusivity is a no-go when you want to be discovered.
AVAILABILITY: INDIEGOGO // KICKSTARTER
Indiegogo is available in practically every country (official number stands at 224, but who’s counting?) as opposed to Kickstarter’s handful of 18. Who gets the point here?
KICKSTARTER: STRONG STARTER BASE
Kickstarter tested the waters, so to speak, before branching out. It stayed exclusively available to the U.S. before tentatively welcoming Canada, the U.K., and Australia into its fold. Because of that, people in the U.S. know Kickstarter better than Indiegogo. They also have a strong sense of loyalty to it and thus are more inclined to pick it.
Even though Kickstarter has a more loyal consumer base, Indiegogo has the advantage in numbers. And at the end of the day, most people would argue that marketing is really nothing more than a number’s game.
TRANSLATION: EXCLUSIVITY DEPENDS ON YOUR TARGET MARKET
If you’re aiming for and catering to a more global audience, your video marketing campaign should be discoverable/viewable in every possible country. If you want to build a loyal consumer base in one particular country before carefully branching out, you’ll want to pull a Kickstarter and focus in one area first.