Success Stories beyond Kickstarter: Lessons Learned for Future Ventures

Introduction

Since the rise of crowdfunding platforms like Kickstarter, many startups and entrepreneurs have witnessed impressive growth in the initial stages. However, sustaining that success for years and even decades beyond the initial fundraising drives remains a challenge for many.

Unique Case Studies

Several companies have managed to not only survive but thrive and even become household names after their successful Kickstarter campaigns. These success stories offer valuable insights into what it takes to maintain and grow a business in the long term.

PicoBrew

PicoBrew, for instance, launched a Kickstarter campaign to bring a beer-making machine to the mass market, aiming to be the 'Keurig for beer.' In just a few years, they transformed from a startup to a stable company and even opened a brewery in Seattle, WA. This transition highlights the importance of strategic planning and execution beyond the initial crowdfunding phase.

Peak Design

Another notable example is Peak Design, which leveraged multiple successful crowdfunding campaigns through Kickstarter and Indiegogo. Their success has led them to reach over 12 million customers, demonstrating the power of consistent product innovation and customer engagement. Today, they are a full-fledged business, continually expanding their product line and improving customer satisfaction.

Takeaway: Post-Kickstarter growth comes from applying successful strategies consistently and expanding product offerings.

Lessons from Our Own Journey

We launched our first Kickstarter campaign about 14 months ago, and it has proven to be a transformative experience. The journey from Kickstarter to sustained success has taught us invaluable lessons that we continue to apply in our ongoing efforts.

Don’t Cut Corners

Lesson:
Don’t prioritize speed over quality.

Our Kickstarter campaign raised over $1 million, far surpassing our initial expectations. However, this success came with challenges. We faced production delays due to a limited capacity manufacturer, resulting in multiple backers receiving ill-fitting products. To address this, we invested time and resources to find a new manufacturer and produce a full size run, ensuring our customers received better-fitting and improved products.

Takeaway: Quality should always be a top priority, even if it means missing a season or even a product launch. Long-term customer satisfaction is far more valuable than short-term gains.

Importance of Transparency

Lesson:
Be transparent with your backers and customers.

Our experience highlighted the need for transparency in handling supply chain challenges. From finding new manufacturers to dealing with packaging issues, our backers were informed every step of the way. This approach not only supported us through the difficulties but also built trust and loyalty among our customer base. Today, we uphold the same level of transparency with all our customers, ensuring they always know the reason behind our decisions.

Takeaway: Customers appreciate honesty and transparency, especially during challenges. Open communication can strengthen your relationships and foster lasting loyalty.

Build Deep and Meaningful Relationships

Lesson:
Engage directly with your customers.

The Kickstarter community is closely involved with the companies they support. We embraced this by building deep and meaningful relationships with our backers. We met them for lunch, hosted parties, ran together, and exchanged over 5000 emails, messages, phone calls, and Snapchats. These interactions set the foundation for our current customer experience, making every customer interaction a personal and positive one.

Takeaway: Personal engagement with customers builds lasting relationships and enhances the overall customer experience.

Understanding the Limitations of Kickstarter

Lesson:
Kickstarter is a powerful launchpad, but it’s not a guarantee of future success.

While Kickstarter provided us with a significant boost and a loyal fan base, we realized that further success required us to apply the lessons learned during our campaign. Continuous innovation, quality assurance, and customer engagement are key to sustaining growth in the long run. This realization underscores the importance of transitioning from a one-time fundraising success to a sustained business strategy.

Takeaway: The initial success from Kickstarter is just the beginning. True success comes from consistent application of learned principles and a focus on long-term growth.

Conclusion

The journey from a Kickstarter campaign to a thriving business involves more than just initial fundraising. It requires strategic planning, transparency, customer relationships, and a commitment to quality and innovation. By learning and applying these lessons, businesses can ensure sustained success beyond their initial crowdfunding efforts.