“Is my company’s product suitable for crowdfunding?”
We sometimes receive this question from companies considering crowdfunding.
“Isn’t it difficult unless it’s a new product?” “Won’t it go unnoticed unless it’s a unique product?” “There are already similar products, so maybe it’s not suitable for crowdfunding…”
Many people might think that way.
However, in reality, with crowdfunding, it is not the case that “it succeeds because it is a unique product.”
What is important is not just the product itself, but whether you can convey the background and story behind the product, such as “Why did you create this product?” “Who do you want to deliver it to?” “What do you want to achieve through this product?”.
In this article, from the perspective of ENjiNE, which has been involved in many crowdfunding projects, we will consider “products that are compatible with crowdfunding.”
Crowdfunding is not just about “buying a product”
On a typical e-commerce site, people often decide “whether to buy” by looking at the product’s price, features, specifications, and reviews.
On the other hand, in crowdfunding, the feeling of “I want to support this product” can lead to support.
Of course, the appeal and functionality of the product are important.
However, it is not just that,
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why you created this product
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what kind of problems you want to solve
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who you want to deliver it to
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why you are taking on this project now
—having people empathize with such “backgrounds” is also a point unique to crowdfunding.
That is why, when considering whether it is suitable for crowdfunding, it is important not to judge based solely on the “product itself.”
Three characteristics of products that are compatible with crowdfunding
So, what kind of products are specifically compatible with crowdfunding?
1. There is a story behind “why it was created”
First and foremost, the background of how the product was born is important.
Rather than just explaining “it has these features” or “it uses these materials,” being able to convey “why I decided to create this product” can significantly change how the product is perceived.
For example, “it started because I felt this inconvenience,” “I created it because I was struggling with this myself,” or “I developed it from the desire that things should be better this way.”
Having the “passion of the developer,” which cannot be conveyed by product specs alone, can create a reason for people to support it.
2. People think, “This is what I wanted!”
Another point is that people think, “I haven’t seen anything like this before” or “It would be convenient if such a product existed!”.
It does not necessarily have to be the world’s first product.
Even if similar products already exist, if the points of “this part is more convenient than before,”
“this way of using it is possible,” or “this is exactly the product someone like this wanted” are clear, it will be sufficiently attractive.
What is important is not just to say “it is a convenient product,” but to be specific about “for whom, in what situation, and what makes this product delightful.”
3. There is a reason to feel like “I want to support this”
In crowdfunding, not only the product but also “who is taking on the challenge and for what purpose” is important.
For example, if what you want to achieve through the product is clear, such as “I want to deliver this product to more people,” “I want to realize this kind of society,” or “I want to solve this problem,” it can lead to the feeling of “I want to support this challenge!”
In other words, crowdfunding is a place to sell products, and at the same time, a place to let people know about the challenge.
So, what about products that require ingenuity in crowdfunding?
Reading this far, some may think, “Then, isn’t my product unsuitable for crowdfunding because its story is weak?”
However, there is one important thing here.
“A product not suitable for crowdfunding” does not mean “a product that cannot succeed in crowdfunding.”
Even if the appeal of the product is difficult to convey, you can expand the possibilities by devising the planning and presentation.
1. The difference from other products is difficult to convey
When there are many similar products on the market, in order to get people to think, “I want to support this product because it’s this one,” you need to clearly communicate the differences.
“High quality”
“Convenient”
“Easy to use”
Don’t just stop there; try to be specific about “what makes it different?” and “for whom and what kind of value does it provide?” as well.
Even for the same product, its appeal changes depending on “who you are communicating it to.”
② It is difficult to convey the appeal of the product at a glance
There are some products where it is difficult to understand “what kind of product is this?” or “what are the benefits?” just by looking at a photo.
In such cases, rather than just listing the product specs, showing the product in an actual usage scene is effective. By giving people a concrete image of “what you can do with this product,” it becomes easier to create that initial spark of “I’m a little interested.”
③ It is unclear “why crowdfunding now”
Something that is surprisingly often overlooked is the part about “why are you delivering this product through crowdfunding now?”.
It is important to organize not just the desire to “sell this product,” but also “what you want to achieve through crowdfunding.”
Is it to bring the product to the world? Do you want people to support a new challenge?
Do you want to improve the product further while listening to customer feedback?
The content you should communicate changes depending on the reason.
“Whether it is suitable for crowdfunding” is not determined solely by the product’s features
After reading this far, some of you might have thought, “Maybe my company’s product isn’t suitable for crowdfunding after all…”
However, in crowdfunding, it is not just about “what kind of product it is,” but also “how you present it,” “who you deliver it to,” and “what kind of story you tell”
that significantly changes how the product’s appeal is conveyed.
For example, even for the same product, whether you say “lightweight and compact, convenient for carrying” or “for those who don’t want to increase their luggage when traveling.”
Depending on how you communicate it, the people who feel “this might be a product I need” will change.
That is precisely why, before starting crowdfunding, I recommend that you take a moment to organize not just the product specs, but also “whose problem this product solves and what kind of problem it is.”
Crowdfunding is not just a “place to sell”
Crowdfunding is a place to sell products.
Of course, that is also one of its major roles.
However, that is not all.
Share the background of the product and the passion behind the challenge to connect with supporters.
And, listen to the voices of those who actually support you.
When you think about it that way, doesn’t the perception of crowdfunding change from a place to sell products
to a place to share your product and challenge, and meet people who will support you?
When you think, “Can I do this product on crowdfunding?”, instead of just looking at the product’s features, try thinking about “Why did you create this product?”, “Who do you want to reach?”, and “What do you want to achieve through this product?”.
Perhaps the “reason to deliver it via crowdfunding” that you haven’t fully conveyed yet is hidden there.
Source: bing.com
