For any crowdfunding campaign, connecting with the target market early is essential to getting backers and achieving your goals. Peter Li of Atlas Wearables shares the pre-campaign process and the value of building an email list early in order to achieve the goals of his campaign. He shares with Khierstyn many tips and strategies that truly set his brand apart from others and allowed Atlas to well exceed their goals. Peter offers advice to new funders who are ready to tackle their goals.
Peter Li launched a high-tech product and understood his market from the beginning.
The first product launched by Altas Wearables was the Atlas Wristband, a high-tech fitness tracker that leaves its competitors in the dust. The mind-boggling capabilities of this one-of-a-kind tracker sets it apart from the rest, which Peter knew would give him the edge when it came to crowdfunding. The key was to start spreading the word early and gain the attention of the target market in order to get the backers they needed. Peter shares the timeline leading up to the campaign and how he approached building his email list. Because of the unique nature of his product, it was all about connecting with the people who were looking for a solution to the problem the Atlas Wristband solves.
Using events and networking to build your list.
Peter Li believes in keeping your foot on the gas throughout the campaign when it comes to networking. In the 9 months prior to the campaign, the Atlas team attended events, meetups and conferences where their audience would be. This allowed them to build their list, network, and connect with people who could propel the campaign forward. The most important part of building an email list? Understanding the problem and how your product solves it. Peter also shares why they chose crowdfunding instead of going straight to retail, knowing how unique the product was.
How did you maintain momentum throughout the campaign?
Maintaining momentum is key to the long-term success of your campaign. Altas Wearables started off strong, hitting their goal early in the game. But, how did they maintain this momentum? According to Peter, it’s all about continuing to network even after your campaign has started. He shares the importance of continuing to get the word out and how it really lies on the shoulders of the funder to make sure that happens. For Altas, that meant going to gyms, races, and fitness events because that’s where they would find people who needed their product. Peter goes on to share the role of PR and paid marketing in the Atlas campaign.
Peter’s biggest tips for crowdfunders as they approach their campaign.
The Atlas Wearables campaign was a huge success and Peter offers his advice to crowdfunders who are approaching their first campaign: Underpromise and Overdeliver. He explains the importance of this in the long-term success of the company and the satisfaction of the backers. Peter also explains why they chose Indiegogo and if they would go with Indiegogo again for a future campaign. This chat with Peter Li is filled with valuable insight into the pre-campaign process you can implement into your own strategy.
OUTLINE OF THIS EPISODE:
- [0:59] Khierstyn’s introduction of Peter Li of Atlas Wearables, who shares insight into building an email list before you begin your campaign.
- [3:15] How Atlas Wearables came about.
- [5:30] What Atlas is.
- [6:23] How a customer will use the information the activity band tracks.
- [7:38] The importance of user experience and overall product quality to Atlas.
- [8:55] The process from working prototype to crowdfunding.
- [9:18] The goal when they came into Techstars
- [10:03] The pre-sale strategy prior to the Indiegogo Campaign.
- [10:49] Why you should start building your list months before your campaign and how Atlas approached this.
- [12:24] The timeline approaching their first campaign.
- [13:12] Why did you choose to go the Crowdfunding route versus going directly to retail.
- [15:00] Why Indiegogo instead of Kickstarter?
- [16:43] Would they go with Indiegogo again or Kickstarter for a future campaign?
- [17:13] Understanding the first week after the launch of the Atlas campaign.
- [17:49] Peter’s goal and how quickly they hit the mark.
- [19:05] Where the initial backers came from.
- [21:11] The #1 strategy that helped keep the momentum going after the first month.
- [24:40] The types of events for founders to get involved with pre-campaign.
- [26:06] Aside from events, what was the second thing you did really well to maintain momentum?
- [27:51] The role of PR and paid marketing in the Atlas campaign.
- [29:09] For startup funders who want to do a campaign but don’t have a huge budget, what advice do you have?
- [30:34] What to look for in a good PR company.
- [32:12] The one piece of advice Peter has for other crowdfunders.
- [34:16] Details on how to purchase the Atlas Wristband.
RESOURCES MENTIONED IN THIS EPISODE:
CONNECT WITH KHIERSTYN: K(at)crowdfundinguncut(dot)com