Crowdfunding for mobile

@seedingfactory

An Overview of

Crowdfunding for mobileWavefront - Grow your wireless business conference

by Heri Rakotomalala

mercredi 11 décembre 13

@seedingfactory

StartupStache is a initiative started by the startup community to help bring awareness to prostate cancer.

With iNovia Capital, unlok.me, Trendr, Real Ventures, FF, etc.

Link : startupstache.com


@seedingfactory

Heri [email protected]

Twitter: @heri

Bruno [email protected]

Twitter: @brurakoto


mailto:[email protected]




@seedingfactory


@seedingfactory

• Definition crowdfunding

• Crowdfunding numbers

• More than just funding : crowdfunding benefits

• Crowdfunding for mobile

Summary


@seedingfactory

crowd·fund·ingˈkroudˌfəәndiNG/noun

the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.


@seedingfactory


@seedingfactory

Joseph PullitzerCrowdfunding the Statue of Liberty

pedestal


@seedingfactory


@seedingfactory

• 44% success rate on Kickstarter

• 56% of contributions come from Facebook

• 11,498 successfully funded music projects

• Average: $5000 raised

• 18 video games projects raised more than $1million on Kickstarter

• $5.1 billions in 2013 ; 81% year over year increase

Did you know?


@seedingfactory

• Indiegogo & Kickstarter expanded to Canada

• Equity crowdfunding is NOT legal in Canada

• Montreal: Neptune Pine raising > $450k for their Android smartwatch

• Others in Montreal mobile tech 2013: Hexoskin, Snoobe, Fabule etc.

Montréal, Canada


@seedingfactory

1. Funding

2. Proof of concept

3. Collaboratiojn

4. Marketing

5. PR

Benefits of crowdfunding


2 - Proof of Concept


@seedingfactory

• Check if your assumptions were correct.

• First step to convince more partners later on.

• Assessing the audience size and popularity


@seedingfactory

Pressy - the Android Button


@seedingfactory

➡ Take away : Not sure about an idea? Use crowdfunding to validate it


3 - Collaboration


@seedingfactory

• Find fans, ambassadors, partners looking to work with you and work on valuable connexions.

• Let you adapt the product/service/concept in real time.

• Get early feedback


@seedingfactory

Snoobe : iOS version


@seedingfactory

➡ Take away : Use crowdfunding to get valuable feedback and guide your product design


4 - Marketing


@seedingfactory

• Every contributor becomes an evangelist

• Good to build a community around your project.

• You’ll gain highly valuable knowledge about how to market your product/service/project


Vandal Games

From 300k to 500k players in 1 monthBiggest and most efficient market acquisition technique for the video game studio


@seedingfactory

➡ Take away : use crowdfunding to market your product


5 - PR


@seedingfactory

• Replace a product/project launch

• The innovative and dramatic aspect of crowdfunding will help you get more press coverage

• Social networks help multiply the outreach


@seedingfactory


@seedingfactory

➡ Take away : use crowdfunding to get bloggers & journalists write and buzz about what you do


@seedingfactory

1 - Funding

2 - Proof of concept

3 - Collaboration

4 - Marketing

5 - PR


Applying it to mobile


@seedingfactory

• A compelling, unique, creative concept with emotional impact, with a price

• Backers motivation : acknowledgment, a tangible product, or an experience

• Multipliers : a video (+120%), a solid community base (546 followers), a well-crafted promotion campaign (min 100 pitched bloggers and journalists)

• Kickstarter (44% success rate) vs Indiegogo and others (only 9%)

A few criterias of success


@seedingfactory

• Most mobile apps are free : impossible to crowdfund

• Important : Mobile hardware is easy to crowdfund

• Kickstarter’s editorial team blocks social network, ecommerce and pure software projects

• There’s little to no emotional stories in mobile

• Find a way to appeal to the KS community!

Challenges


@seedingfactory

• In 2013, we’ve reached a point where with a simple app, you can get fans throughout the world, fund your idea, get support, simply through online channels. You don’t have to own a newspaper anymore.

• Passion, story-telling and authenticity are key

• Crowdfunding is hard and time-intensive. Benefits outweigh challenges though. Make it work for you!


@seedingfactory

Heri [email protected]

Twitter: @heri

Bruno [email protected]

Twitter: @brurakoto






Crowdfunding for mobile

Technology

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