EP #525 The Framework Behind a $633,657 Indiegogo Launch | Snowcap

Key Concepts

Crowdfunding, Indiegogo, Kickstarter, cold plunge therapy, product development, marketing, brand building, pre-campaign preparation, campaign execution, thermoelectric technology, fulfillment, shipping, procrastination, habit formation, coaching calls.

Snowcap Biohackers Cold Plunge: A Crowdfunding Case Study

Background and Inspiration

• Matthew, an intensive care doctor and entrepreneur from Melbourne, Australia, co-created Snowcap with a co-founder after experiencing the benefits of cold water therapy for mental health, focus, and productivity.
• They found it challenging and expensive to access cold water therapy due to warm climates, leading them to develop a portable, aesthetically pleasing solution.
• The idea originated from a text message and evolved into a company with patents within months.

Product Development and Technology

• Snowcap integrates thermoelectric technology into a lid for cold plunge tubs, offering portability and ease of use.
• Thermoelectric technology was chosen for its lighter weight, quieter operation, and lack of position sensitivity compared to refrigerant models.
• Creative design work improved the efficiency of the thermoelectric system, bringing it close to refrigerant systems.

Crowdfunding Strategy and Platform Choice

• The decision to use Indiegogo was based on the perceived alignment of their target audience with the platform's user base and the positive experience with Indiegogo's team.
• They appreciated the support and guidance from Indiegogo's campaign managers, especially as first-time campaign runners.
• They did their due diligence to ensure crowdfunding was the right path for their early-stage company.

Pre-Launch Preparation and Mindset

• The team prepared extensively for the launch, recognizing the importance of a successful launch day.
• Matthew shared a quote from his colleague the night before the launch, emphasizing the potential to "change the game" and create a legacy.
• The first day of the campaign was filled with excitement and nervous energy, culminating in a sense of gratification and responsibility.

Campaign Execution and Key Learnings

• The initial response to the campaign was rapid, with contributions quickly increasing.
• The team celebrated the launch with a dinner and apartment overlooking the city.
• Matthew emphasized the importance of focusing on the journey and making decisions that align with the experience for both the team and backers.
• A key learning was the need for better preparation for the campaign phase itself, not just the pre-campaign phase.

Fulfillment and Shipping

• The host mentions a free Kickstarter fulfillment and shipping checklist sponsored by Fulfillite, available at fulfill.com/checklist.

Rewarding Aspects

• The most rewarding aspect was the shared experience of the team and the recognition of their hard work.
• Matthew also found the learning experience and building something from scratch to be personally rewarding.

Product Information

• Snowcap is available on Indiegogo on Demand and at clearwatericebaths.com.
• They are active on Instagram and Facebook, providing regular updates.

Final Tip

• Matthew's final tip was to prepare as thoroughly for the campaign phase as for the pre-campaign phase, as they felt they could have improved their performance during the campaign itself.

Additional Resources from Salvador Brickman

Free Crowdfunding Course

• A free step-by-step course is available at crowdcrux.com/kickstarter, offering actionable videos and strategies for raising funding.

The 67-Day Rule Book

• Salvador Brickman's book, "The 67-Day Rule," is available at crowdcrux.com/67.
• The book focuses on overcoming procrastination and developing the habit of following through on goals.
• It's based on scientific research showing that it takes approximately 66-67 days to form a new habit.

One-on-One Coaching Calls

• Individual coaching calls with Salvador Brickman can be booked at crowdcrux.com/coaching.
• These calls provide personalized guidance and support for crowdfunding campaigns.

Synthesis/Conclusion

The podcast episode features Matthew from Snowcap Biohackers, who shares his experience of raising over $629,000 on Indiegogo for their innovative cold plunge product. He emphasizes the importance of thorough preparation, choosing the right platform, focusing on the journey, and learning from both successes and shortcomings. The episode also highlights the resources available from Salvador Brickman, including a free crowdfunding course, a book on habit formation, and personalized coaching calls, all aimed at helping creators succeed in the world of crowdfunding.