Finn Apparel has raised over $33,000 on Kickstarter for the Finn Hem Trouser. Described as a “blend of modern and vintage by offering a timeless, tailored fitting pant with a subtly accented one of a kind hem,” this product has become a sensation, raising twice its fundraising goal in 45 days (and they are still raising money!).
I had the chance to speak with Dustin Vann of Finn Apparel to gain some insight into his experience raising money online. Check out our conversation below. There are some great tips for creators new to internet marketing and building momentum.
Did you expect to reach your fundraising goal in the first two weeks?
In the very beginning we didn’t really have a whole lot of expectation as to how quickly the project would take off. We put a lot of hard work into our campaign on the front end and knew that our video, presentation, content, and rewards were going to be very important factors to our success, and we did it all ourselves!
It was very encouraging to be notified on the second day of our campaign that we had been deemed a ‘Staff Pick’, at that point we knew our hard work had paid off.We were extremely humbled and honored to be chosen as a ‘Staff Pick’ on Kickstarter. I knew from preparation that this was a big deal – When reading through Kickstarter’s success tips they advise and direct people to look at the ‘Staff Picks’ for inspiration from projects that have ‘done it right and well’.
The next thing that happened was a major turning point in our campaign — On day 8 of our campaign we were selected as the ‘Project of the Day’ on Kickstarter and were featured on the front page of the site for 24 hours – This was a huge day for us.
How have you managed to continue to maintain interest throughout the campaign?
We’ve done several things to stay relevant and front of mind but if I had to sum it up in two very important tips I would say:
Love your Current Backers!
We’ve been diligent about maintaining a high level of transparency and efficient communication with every single one of them. We’ve worked very hard to keep everyone engaged with our brand via Social Media, and even running contests within our campaign – letting the backer help us design and build the products and ultimately bringing them ‘inside the brand’ and letting their creativity and insight help us.
Promote Shamelessly, and don’t be afraid to ask for help!
In the beginning it’s easy to share with friends and family, and get people pumped up about what you’re doing, but 15-20 days into the campaign you’ve kind of over worn your welcome in your personal networks. When we reached this point we knew we had to bring others into the mix that could broaden our reach to engage potential backers that we’re outside of our personal networks. We formed a solid partnership with Philip Cardwell and John Michael Scott from Universal Media Consultants who were able to come alongside and give us the extra reach that we needed mid-campaign to continue to grow as a brand through social media and new strategies that we hadn’t thought about initially.
What do you wish you knew when you first started the campaign and what have you learned about raising funds online?
I’ve learned that when you’re running an active campaign it’s a 24/7 job, and it’s not for everyone. There is a reason that statistically more projects fail than succeed in crowdfunding, and I believe it’s largely in part to either a lack of passion and dedication or simply not having the right strategy for promotion right out of the gate. Their are a lot of great ideas that don’t get funded and this is not a “If you build it they will come” atmosphere. We are extremely passionate about our brand, and knew going into this that it was going to be very demanding of our time, efforts, and energy and we were willing to make the sacrifices so at the end of our campaign we could say with confidence “We did absolutely everything we could have done, and we did it the best we could.”
Would you recommend working with a crowdfunding marketing firm? Did you find it to be helpful?
It’s very important to have a team of people that you can trust around you during a campaign. We were fortunate enough to have that in our partnership with Phillip Cardwell and John Michael Scott when we brought them in mid-campaign. When I began looking for the right people to partner with I knew they needed to bring something ‘extra’ to the table. I’ve personally been in online marketing for several years, So I know the world of “Internet Marketing” but “Crowdfund Marketing” is a world of it’s own– It’s scrappy, quick, and on a dime you’ve got to be able to shift gears and change directions luckily we all brought unique talents to the table that kept the campaign energized through every round of the fight.
In your opinion, what is the single most important thing required to be successful on Kickstarter?
I would say it’s all about preparation. You can’t just throw something together and expect people to be amazed. Before our campaign we spent months studying other successful campaigns and researching the ins and outs of crowdfunding. It can be easy to get ahead of yourself, but patience and preparation are the keys to success.
Questions?
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