EP #517 Kickstarter Expert Reveals $562,963.42 Launch Tactics | Hozo Designs

Key Concepts:

• Crowdfunding (Kickstarter, Indiegogo)
• Community Building
• Pre-launch Marketing
• Backer Communication
• Product Development
• Trust Building
• Risk Management
• Fulfillment
• Add-ons
• Intellectual Property (Patents)
• Entrepreneurship
• Brand Building

I. Introduction

• Salvador Brrigman introduces the podcast episode featuring an interview with a creator who has launched eight successful Kickstarter campaigns.
• The episode aims to uncover the strategies used by successful creators to build a community and get funded repeatedly.
• The guest has achieved success despite being a minority and tapping into the American market from overseas.
• Brrigman highlights his experience in crowdfunding since 2012, with over 500 case studies on the podcast.
• He promotes his book, "The Kickstarter Launch Formula," available on Audible and Amazon, and a free Kickstarter course at crowdcrux.com/kickstarter.

II. Guest Introduction: Meyn from Hoso Designs

• Meyn, a member of the Hoso Designs team, is introduced. Hoso Designs has attracted over 3,500 backers for their most recent campaign.
• Hoso Designs started in 2018 as a graduation project with Meyn handling marketing and her co-founder Peter handling product design.
• They are based in Hong Kong and China. Crowdfunding is popular in China for brands looking to enter the international market.
• Meyn and Peter studied in the US and Canada, where Kickstarter was a hot topic, which inspired them to start crowdfunding.

III. Changes in Kickstarter Since 2018

• Kickstarter is suitable for both small studios and big companies.
• Pre-launch campaigns and email lists are now essential for success.
• Marketing costs have increased, requiring more investment.

IV. Product Focus and Community Involvement

• Hoso Designs focuses on smart measuring tools.
• They follow the "from backer for the backers" approach, incorporating feedback from backers into product development.
• They launch a "design with hoso" project every year, inviting backers to contribute ideas and be beta testers.
• This approach ensures that their products are well-received and meet the needs of their community.

V. Product Selection and Innovation

• Peter's background in a family with over 100 years of architectural and constructional design experience helps identify pain points in the industry.
• They focus on solving problems that big companies ignore due to industry stability.
• They pay attention to their community and what they are telling them.

VI. Marketing and Campaign Setup

• Meyn's role is in marketing and campaign setup.
• Products with higher average purchasing value perform better due to high Cost Per Acquisition (CPA).
• They increase order value by integrating add-ons and accessories.
• Accessories enhance the overall user experience, which Kickstarter backers appreciate.

VII. Building Trust

• Building trust takes years and can be broken quickly, especially on Kickstarter.
• Frequent communication and transparency are crucial.
• Kickstarter backers are smart and will investigate the creators.
• Never let backers down, even once.

VIII. Fulfillment Challenges and Communication

• They failed on their first Kickstarter project due to poorly handled fulfillment and communication.
• It took years to recover from this mistake.
• Kickstarter backers have a higher tolerance level than the standard market.
• Transparent and efficient communication during problems is essential.

IX. Timeline for Product Launches

• After a product reaches 80% development, they start preparing for the Kickstarter campaign.
• Preparation takes two to three months, including product filming, campaign content creation, and landing page setup for email list collection.
• They run a pre-launch campaign for one month, then polish everything and launch the campaign.

X. Emotions Before and After Launch

• Meyn still gets nervous before launches, but the level of nervousness decreases with each campaign.
• They set expectations for the highest, middle, and minimum outcomes.
• The team closely monitors the numbers.
• After the campaign, there is excitement and happiness, but also pressure on the production and delivery teams.

XI. Risk Management and Unexpected Challenges

• Running a Kickstarter campaign involves unexpected risks.
• Their most successful campaign, New Ruler, faced a patent violation claim from another creator.
• The other creator threatened legal action and demanded 25% of their annual revenue.
• They spent $10,000 on legal fees to resolve the issue.
• The key is to maintain mental stability and not be afraid.

XII. Learning Lessons on Risk and Preparation

• It's important to be well-prepared, but unexpected things can still happen.
• Engage a lawyer for formal notifications.
• Maintaining mental peacefulness is key to smooth decision-making.

XIII. Building a Business as a Female Entrepreneur

• It's important to understand your identity and not care about gender stereotypes.
• Meyn has faced underestimation and unjust judgment as a female businesswoman.
• Never underestimate yourself and build your own confidence.
• Prove yourself with your ability and achievements.

XIV. Key Takeaways and Advice

• Focus on backers and be transparent.
• Do pre-launch marketing.
• Offer add-ons.
• Build trust.
• Plan for risk.

XV. Where to Learn More

• Follow Hoso Designs on hoszodesign.com or on Kickstarter for updates and upcoming products.

XVI. Final Quote and Encouragement

• "From backer for backer" - Always remember where you come from, generate financial and inspirational support from your backers, keep your promise to them, and develop good products for them.

XVII. Salvador's Closing Remarks

• Salvador emphasizes that he views himself as a student of crowdfunding, always learning and soaking up information.
• He highlights the importance of surrounding yourself with the right voices, mentors, and team.
• He promotes his one-on-one coaching call option at crowdcrux.com/coaching for those serious about crowdfunding.

XVIII. Synthesis/Conclusion

The podcast episode provides valuable insights into launching successful Kickstarter campaigns, emphasizing the importance of community engagement, transparent communication, and proactive risk management. Meyn's experiences with Hoso Designs offer practical advice for product development, marketing strategies, and building trust with backers. The episode also addresses the challenges faced by female entrepreneurs and encourages them to overcome stereotypes and build confidence. Salvador's closing remarks reinforce the importance of continuous learning and seeking guidance from experienced mentors in the crowdfunding space.