Having no referrer data is insane if you’re somewhat successful and want to identify where the traffic is coming from and what to focus on. We decided go with IndieGoGo since you needed to be a US citizen to use Kickstarter at the time – or find someone with one willing to be use as a proxy, which would raise all sorts of other issues like liability, legality and added costs in fees – and the potential of a 3rd party effectively being able to hold your money hostage if successful. We instagrammed. As we are both stingy bootstrappers, we liked the sound of the last option. Then as the campaign progressed, growth quickly leveled out as we didn’t manage to identify and branch out to new potential groups of users that would love our product and to other communities who’d be interested in seeing us succeed. Get in touch with IndieGoGo support if you need to extend the time. What would we do differently next time? My entrepreneurial buddy Francis and I tried to crowd fund a startup. We still think there’s a great opportunity to be had here. Taking the indie, open source app store to the next level | Check out 'AppCenter for Everyone' on Indiegogo. But don’t let that deter you from trying. Starting out, we spammed targeted our friends, families and fellow entrepreneurs and things looked good for a while. What do you think we did wrong? Update: We were approached by a major investor in [insert name of massively successful camera product brand here] after we had decided that the experiment had run its course and shortly before the Vine app hit the street. Taking the indie, open source app store to the next level. My entrepreneurial buddy Francis and I tried to crowd fund a startup. So what do we think were our biggest mistakes and lessons learned? More specifically, an Instagram for one second videos. Reach more than $ 1.000 before pushing to the press. We filled special interest forums. We YouTubed. It's a place for product-loving enthusiasts to share and geek out about the latest mobile apps, websites, hardware projects, and tech creations. The honest answer; We have no direct way of measuring it as IndieGoGo doesn’t offer standard referral analytics. Manually and automated. Update: For validation of our concept, see now twitter owned Vine and Cesar Kuriyama’s 1 Second Every Day that emerged over six months later. I do something with tech startups, education, and corporate innovation. Chen has been with the company since its beginning, and served as CEO for its first five years. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. I want to write an eBook teaching readers how to write their own iOS app with open source sample code hosted on GitHub. What is the conversion rate from blogs and news sites when and if we get published? Was it because it’s the wrong product? Then we take the time to explain it and then they are like “Oh, I see. Luckily for us, we were complete failures and measuring conversion of referrers when you have zero effects is pretty easy. We have not given up on it. Product Hunt surfaces the best new products, every day. However, we had already decided to kill it as we had run out of personal interest and passion. Is it possible (for us, right now) to crowd fund (without equity) the development of an iPhone app? Until then, I’d love to know what your experiences with crowd funding are. It’s evident to everybody by now that we were spectacularly unable to fund the development of the OneSec iPhone app. The lesson to us was pretty clear that spamming journalists and getting some publicity didn’t convert into any pledges. Explore creative projects in art, design, film, games, music, and more, Hire vetted developers on demand at startup prices, Where independent creators + backers come together. Discover/ fund projects and causes you love on Indiegogo. More? To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. ". Find out more about how we use your information in our Privacy Policy and Cookie Policy. We’re both busy running a couple of other startups, but since we were both n00bs to this crowd funding thing we thought we’d better get some experience and without potentially involving our main brands. We spammed around 680+ journalists in an email blast. In hindsight, it’s clear we failed to explain the product to people in the pitch video. We still would have loved to see which source drove the most traffic – if any, though. I’ve heard this trick is more the rule than the exception on IndieGoGo. In conclusion if we could have invoiced all the work we put in as regular consulting hours with normal customers, we’d probably made more than our original target for the funding campaign. (I still remember people laughing at the idea back then…). However, perhaps the last lesson learned was that these things take more time than you think. Recap for new readers: In the summer of 2012, me and Francis decided to experiment with crowd funding. Here’s what we learned from her: BONUS (and this is from me, not from Danae): Pay or raise the plus $ 1.000 yourself with family and friends you will pay back if you can and if you’re going for a campaign that gets to keep the money regardless if you reach your goal and consider the PayPal fee marketing expenses. This would be the 2nd best. And just as you are about to lose faith and passion, your luck just might turn if you stick to it. Sorry, your blog cannot share posts by email. As luck would have it, during our campaign I also got the chance to ask IndieGoGo co-founder Danae Ringelmann (@GoGoDanae) in person at a panel on Crowd Funding of startups in Europe moderated by Mike Butcher (@mikebutcher) at the Campus Party EU in Berlin. On failing: Crowd funding an iPhone app on IndieGoGo 26/10/2012 Vidar Andersen app, crowd funding, crowdfunding, entrepreneur, entrepreneurship, funding, indiegogo, ios, iphone, lessons learned, onesec, startup, video. Just avoid doing the same mistakes we did. That’s cool”. Danae was kind enough to sit down with me after the panel and give me more advice on our crowd funding campaign. | Check out 'Your First iOS App' on Indiegogo. Engadget is part of Verizon Media. Share in the comments or join the conversation on Hacker News. ", "A database of 2400+ angel investors, filter by your industry and contact them using the contact information provided. Taking the indie, open source app store to the next level. We failed. Think Apple. Keep pushing press although they don’t react at first. You can track how many tweeted and posted your campaign to Facebook using the share buttons on the campaign page – but that’s it. This would be the 2nd best. Making an extensive demo would have taken considerable more time and effort than we already put it, but doing a campaign over again we’d probably start with explaining the product in more detail. Next time we’ll consider paying this amount in ourselves and considering IndieGoGo’s cut as marketing expenses. Here’s what the last iteration of the video pitch on IndieGoGo looked like: Starting out, we had some assumptions and there were a few things we wanted to test and (in-)validate: Read on for the more longwinded answers and conclusion. We don’t think so based on the feedback we are still receiving. Reach out to people who have already pledged for stories and testimonials, publish their stories about why they believe in you. Doing it over, we would focus on how the product improves the user’s life like keeping more in touch and more up to date about your life, lives of friends and families, sharing more with others instead of your videos just gathering virtual dust on SD cards and hard disks, Apple-style with people showing real-life use-cases. Ramp up the communication about what is going to happen if you fail to raise the target amount and make sure to communicate the consequences. And how did this convert? A peer-to-peer marketplace for crowdfunded products, Start a small crowdfunding campaign to prove product demand, Suggest alternatives to Indiegogo iOS app, "It's not the best imo, I think Kickstarter is better but it was already mentioned. We failed to make an emotional connect with potential users and funders on two levels. Next time, it would probably be smarter to to do some research, tests and cohort analysis to find those groups up front before launching the campaign, having an actual plan on who to market it to, where they are, how to best reach them and how to better enable them to engage with and share the campaign. In the course of the campaign we were tweeting, retweeting, blogging, mailing and Facebook posting night and day. Is there any interest in this product in the market? Roughly speaking there are two main types of crowd funding: 1) Funding against selling equity, percentages of shares that is, in your company 2) Funding against selling perks, products, merchandise, hot air and bridges in London – for no equity whatsoever. We could have made a more detailed demo – especially detailing what we’ve planned for the super-easy editing and the social sharing aspects of it. How did your campaign go? Spectacularly. On the one hand successfully conveying why we’re doing this, why we believe in this and what will happen if we don’t get funded. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. | Check out 'iOS-iPhone-iPad Apps Development - Startup' on Indiegogo. Reverse engineer the top fundraisers. There are some criticisms …, "I've used WeFunder and it's very promising. On the other we also failed to explain and “sell” the “what’s in it for me” the “how this makes my life better” to the potential backers. With the release of Vine immediately after, that decision was reconfirmed for us and I don’t think we regret killing it. "It's not the best imo, I think Kickstarter is better but it was already mentioned. Just keep it up and ping them back on any kind of updates. In short, we were trying to crowdfund an app to shoot and share videos composed of one second shots – six months before Vine and One Second Everyday. It was an iPhone app. Kickstarter is a place where independent creators and passionate backers come together to bring new ideas to life. We had learned a lot about doing a crowd funding campaign and it was time to move on. (See Francis’ posts on stats on publishing and conversion for more on this subject). ", "Dozens of pitch deck templates from successful startups. Indiegogo iOS app - Discover/ fund projects and causes you love on Indiegogo. But don’t let that discourage you from trying. We probably also launched our publicity efforts too soon, before we had reached $ 1.000. Post was not sent - check your email addresses! Of course there is no telling if that conversation could have gone anywhere interesting – or not – had we decided to revive it and press on. Stay tuned for the next installment, in which we perhaps test and learn how to fund an iPhone app – an Instagram for one second videos – with private investors for equity. We failed to explain the product well enough, We failed to make an emotional connect with more potential users and backers, We failed to identify the target user segments and multiplier groups, We failed with the tongue-in-cheek, no-budget style whereas more successful campaigns have had more of a serious and solid narrative with polished video content. To create and manage – but also for your message to reach out to interesting new places. Funduf is a tool that helps you start a small crowdfunding campaign to prove demand for any kind of product before you spend time on it. Add as much as possible to the story of “what’s in it for me as a backer”, “only you make it happen”, “if you help this happen you will be able to do X and Y”, focus on the emotional appeal. How efficient is spamming, mailing, tweeting, posting and otherwise contacting friends, fools, families, bloggers and journos? Could we have kept on going, extending the campaign, applying and executing on the knowledge that we gained on the way?

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