menu

ED COTTON: What Can We Learn From Kickstarter?

ED COTTON: What Can We Learn From Kickstarter?
Advertising

In its two years, Kickstarter has funded 10,000 projects and raised over $75 million for more than 6,000 projects. What's behind its success?

Ed Cotton, BSSP
  • 22 july 2011

Kickstarter just released an amazing set of data about its performance:

1. In  just two years, it’s funded 10,000 projects

2. Over 6,000 of those projects have been in the worlds of music and film/video

3. It’s raised over $75 million

4. The number of backers totals 790,000+

The brand has come from nowhere to be the “go to” place for funding for anyone who has a smart idea.

While some may dream of Silicon Valley millions for their new brilliant app company, others have more modest dreams and just want a little bit of seed money to get their idea off the ground and this is where Kickstarter helps.

The beauty of the Kickstarter brand experience is that it’s so straightforward and simple- it also doesn’t discriminate between the type of project and basically allows anyone to have a platform to easily pitch their idea. The ladder structure that encourages project seekers to give back something to backers, mirrors many membership schemes out there, but works perfectly.

Kickstarter shows us the breadth of creative talent and quality that’s out there.

I was struck recently about an amazing project to build a swimming pool in New York’s Hudson River. The guys pitching the project seemed very casual and down-t0-earth, but underneath was a methodical and well-thought through approach that included enlisting the help and support of Arup.

The Kickstarter brand has built a solid reputation in a short-period of time.

I can see only accelerated growth ahead- the possibilities are endless. One thing I like is that the company isn’t aggressively seeking to develop their business through advertising or sponsorship and by getting brands into the mix. Instead, they are growing organically with a level of purity and respect.

It’s not inconceivable to imagine that every creative student around the world would need to have a funded Kickstarter project in-order to graduate from school. It’s the perfect first taste of business realities without ever having to set foot in the branch of a bank.

Ad and communication agencies should also be all over this because we all know we are in the ideas business and are all familiar with the notion that everyone employee thinks they have brilliant ideas, perhaps we need to challenge them to prove it by getting on Kickstarter.

For brands, it’s probably best leaving Kickstarter alone, but recognizing that there are ways of encouraging and empowering the breadth of creative talent to do amazing things, by helping them pitch their ideas and gain the trust, support and passion of the crowd.

This isn’t about getting people to make ads in return for $$$, but instead getting them to contribute valid and vibrant ideas that can change our world and our experiences.

Ed Cotton is the Director of Strategy at BSSP, and is curious about all things relating to brands, marketing and culture. Read more at influx insights.

influx insights banner

Trending

Zagat's Cafe Offers Tiny Replicas Of Classic NYC Dishes

Experiential Marketing
USA Today

Amazon Launches Cashier-Free Store For Ultimate Efficiency

The retailer is looking to make shopping even faster by letting customers instantly pay as they walk out the door

Augmented & Virtual Reality Today

Marble-Like Mini-Worlds Invade Miami Art Week And Your Mobile Screen

The gallery world's sphere of influence seems to be expanding into the realm of Pokémon Go—why that's a good thing

Trending

Get PSFK's Related Report: Future of Automotive

See All
Health Today

A 'USB Stick' That Can Detect HIV Levels

The simple device developed at Imperial College London measures viral load in less than 30 minutes

Customer Retention Today

Crafting The Personalized Retail Experience

Marriott International's Christopher Baer shares insights into how the hospitality company is strategizing customer service

Related Expert

Rachel Youens

fashion and ecommerce

Children Today

Experience The White House In Augmented Reality Using A $1 Bill

1600 Pennsylvania Ave. is an AR app designed to help people learn about the history and significance of the United State's capital building

Travel Today

Portable Computer Monitor Opens Up Like An Umbrella For Travelers

This mobile screen and projector means work can go anywhere and still feel like working from home

Food Today

Starbucks Is Selling An Automated Temperature-Setting Mug

For those looking to keep their coffee hot on their winter commutes, the coffee chain has created a device that keeps beverages exactly at their desire temperature

PSFK LABS REPORT

Future Of Retail 2017
Transformation Strategies For Customer-First Business
NEW

PSFK Op-Ed december 2, 2016

Customer Service Expert: Why Offline Retail Has Better Data Than Online Retail

Healey Cypher, Founder and CEO of Oak Labs, shares why we should be thinking about the physical store as an e-commerce site

PSFK Labs december 1, 2016

Retail Spotlight: Home Depot Reimagines How Employees Conduct Tasks

The home improvement retailer puts the customer first by initiating local fulfillment centers and simplifying freight-to-shelf inventory management

Mobile Today

This Piece Of Plastic Is Designed To Curb Phone Addiction

The NoPhone Air from New York agency Barton F. Grafis is actually no phone at all

Retail Yesterday

Store Technology Expert: Why Retailers Must Invest In Store Associates

Jan Kotowski, Head of Product at Tulip Retail, shares his thoughts on how retailers should be preparing for the future

Product Launch Yesterday

United Airlines Launches An Updated Business Class Program

The new Polaris product prioritizes customer service and updated modern amenities

Travel Yesterday

Video Explores Complex Museum Architecture

A mini video gives a quick overview of the most beautiful cultural buildings built

Sustainability Yesterday

Smog Vacuum Turns Pollution Particulates Into Unique Jewelry

A large device was installed in Beijing that sucks up smog and compresses it into small centerpieces atop jewelry

PSFK EVENT

FUTURE OF RETAIL 2017:
Conference Built Around Report Launch
BUY TICKETS

Fashion Yesterday

PSA Fashion Line Shines A Light On Victim Blaming

YWCA Canada is using fashion and sexist tweets to highlight how often we as a society blame the victim in cases of abuse

Syndicated Yesterday

What PSX 2016 Tells Us About The Modern Games Industry

Nostalgia and big brands are defining how the console market is being shaped

Financial Services Yesterday

VP: Why Messaging Apps Are Issuing In A New Era Of Commerce

Matt Johnson discusses how mobile messaging commerce is creating a different modality for interaction between retailers and consumers

No search results found.