Crowdfunding continues to be a viable means to test the market validity of an idea while raising the capital needed to bring that idea to life. But, crowdfunding continues to change, and successful creators will need to pay attention to the latest crowdfunding trends for 2022 if they want to win.
Most Succesful Products Will Have to Be Truly Unique
This isn’t a new trend. Projects that will see the most success are those that are truly unique. The product design category will continue to see projects thrive. This means more competition in the space, but we’ve already seen many creators develop one-of-a-kind soulutions for everyday problems, like our friends at Secret Whiteboard and Mobile Pixels.
If we break it down further, we predict that projects in the health and wellness space will continue to increase as well as products that enhance the remote working experience and overall productivity. The COVID-19 pandemic created a shift in the workforce and the way we live day-to-day. Many creators turned quarantine and lockdowns into inspiration—whether it be creating games for families to spend quality time together, health-related products to keep us physically and mentally sharp, or professional tools to set us up for success, no matter what our “office” may look like.
We also anticipate more eco-friendly products to launch in the space, whether it be in the actual product materials or the company’s overall mission and sustainable practices.
Anticipate Stricter Platform Guidelines
This prediction is for health and wellness products launching on Kickstarter and Indiegogo. Both platforms have existing rules and guidelines which prohibit project creators from making direct health claims that their product will cure, treat or diagnose an illness or condition.
While projects can launch without making any direct health claims, we anticipate the platforms tightening up their review process. Reviewers will pay particular attention to the product and what it claims to do, and whether or not there are renderings (which is also prohibited) throughout most of the page. Therefore, we highly advise creators to come prepared with high-quality assets, demo videos and other supplementary materials to provide proof of a working prototype.
Product Samples Will Give You More Leverage
We predict two major differentiators when it comes to projects being successful or unsuccessful. The first is a decent size ad budget. Historically, clients who come to us with a larger advertising budget tend to do better—as they say, you have to spend money to make money. With a larger budget, you’re able to expand advertising efforts and have some flexibility when it comes to testing more audiences. This, of course, is assuming that the project also has great creative assets to advertise with.
The second key differentiator comes down to samples. Do you have working samples of your product available? As the rise in TikTok and Instagram Reels continues, we’ll see influencer marketing continue to grow in popularity. People trust influencers, and they often carry a lot of weight. Securing organic media coverage can be hard, so consider a third-party referral platform like Kickbooster to offer influencers and journalists an incentive when it comes to sharing your product with their followers. The more samples you have available for press opportunities, the better!
It’s all About the Story
Because earned media coverage will be increasingly hard to achieve for the average campaign. The volume of new launches is simply too high, and the failure rate and rate at which campaigns have not delivered on their promised rewards have made journalists and media outlets wary of covering campaigns.
Campaigns that are able to articulate the expertise behind their idea will resonate with the press. If your campaign has a timely hook, emphasize it in your pitches to the press. The media is more interested in the people behind the product, the why it was created, the struggles the brand overcame and the expertise that makes the brand credible. Pitching a new product launch simply isn’t enough – unless you’re a huge name brand already.
Join Our Community in 2022
Crowdfunding continues to grow in popularity year after year, and we’re excited for what’s to come in 2022. At Enventys Partners, we can help design, prototype, consult, and promote your big idea on Kickstarter or Indiegogo. Reach out to us for more information, and let us help you take the next steps in launching your project.
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