Following a Campaign

SBrick, a week before the end.

      A few days after its launch we were presenting SBrick as one of the most promising crowdfunding campaign of the summer. It appears that our prediction was right. The campaign reached its goal of 60 000 pounds pledge yesterday, a week before the end of the campaign.

SBrick founder Mark Bollobas has managed to continuously establish a dialogue with its community. More than a hundred comments, suggestion and feedbacks have been exchanged through their Kickst
arter campaign. The team also handled a successful back up of the campaign on its social media platforms, created an authentic buzz in the Lego community.

This successful crowdfunding campaign has transformed the young start up into an establish brand for the Lego Community. A success mainly based on trust and open dialogue between the SBrick brand and its community. The challenge now is the capability of SBrick founders to keep the support and involvement of their community during the next steps of the company growth, keep using their advices, shaping their service accordingly the community needs. This crowdfund is a great beginning and we wish SBrick will keep cocreating with this success in the future too!

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Following a Campaign

SBrick

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Last week, a new crowdfunding campaign was launched on the Kickstarter platform: Sbrick, a smart way to control all your lego creation. We believe that this new crowdfunding campaign has a strong potential to reach its financial goal and establish a strong customer community. Here are four reasons why SBrick might be the next big thing among the LEGO community.

1 – An innovative and interactive product

SmartBrick is a tiny lego brick that allow users to remote control their Lego creation. The creation of this product was based on various feedbacks from the Lego community and perfectly feed the needs of the user. However, SBrick is much more than just a tiny brick, it is an entire community of LEGO fans. SBrick user have the possibility to interact with other users through an online platform where they can organise racing events, compete with éach others  or  chat with other members.

2 – An original crowdfunding campaign

This Kickstarter campaign seems to clearly stand apart from its counterpart. The company clearly integrate two dimensions in this campaign:

– A financial aspect, as the young startup needs a financial support in order to launch  the mass production of its product. For that purpose, the company has to collect 60 000 pounds. A goal that seems in its range as SBrick already collected half of that money in only 10 days.

– A community aspect. SBrick is trying to take full advantage of the platform to actively involved their pledgers in the development process of their product. The company also encourage them to share the page on social media in order get more visibility.

3 – An accessible solution

The product is easy to afford and fill a real gap for LEGO users. The company is really transparent with their customers and share valuable information concerning the product and its development on its Kickstarter page. They deeply encourage communication within their community and have a strong customer interaction on social medias. This  social media interaction improve the campaign visibility and make it stand out for its counterparts. Therefore, the quick success of this crowdfunding campaign has no secret!

4 – A real interaction with its customer community

As I mentioned before, the young start up attached a great importance in establishing a dialogue with its customer community. It is no doubt that the company hasa real enthusiasm for co-creation. The company created its own community platform (https://social.sbrick.com/) where their customers/pledgers can directly interact with SBrick and other users to share their opinions and provide suggestions or feedbacks.

Overall, it is no doubt that SBrick is running one of the best Kickstarter campaign of the summer. The quality of their community integration and their capacity to quickly attract pledgers demonstrate the high market potential of this product. Over the next few weeks, we are going to follow the development of the campaign and keep you update on the reliability of their community interaction.

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Overall Campaign Review

Geek Wave, a successful campaign

– DESCRIPTION OF THE PRODUCT

Geek Wave is one of the most recent successful product growing on IndieGogo. It is a “no-compromise Portable Music Player”, as  advertised on its campaign. It is a well designed device for listening music with high resolution potentials, small, light, for who prefers having a Hi-Fi always on his pocket. Definitely a captivating product, almost 10 times stronger than an Ipod.

– GOAL OF THE CROWDFUND

The goal of the crowdfund is mainly to “pre-sell” the product and lunch it at the end of the campaign. The crowd can choose from a symbolic donation of 1$ to a proper pre-order of 128 units for the price of 4.420$. In addition, since the campaign has been an incredible success – $978,796USD raised, 2.576% of the primary goal – the producers are also developing extra devices for a complete music experience.

– ACCESSIBILITY OF THE PRODUCT

Geew Wave (and the complementary stations) are a classic example of a very clear kind of product. Very often crowdfund campaigns lack of clearness about the real nature of the product or the final goal of the campaign on itself. On the contrary, this product is very well advertised and the potential investors can spontaneously understand if they are interested or not. The market is a very competitive market, with big giants controlling it, even if the real funs of music are always looking for higher quality.

– LEVEL OF CO-CREATION

What really strike observing this crowfunding, it is the quality of the community integration. The founders managed to build an efficient system to communicate with the pledges, listen their observation and modify the product accordingly their preferences. The investors are real co-creator, discussing with the designers the technical potential or alternatives of the products. Geek Wave is not only a successful crowdfund, indeed is also a brilliant community creation where the pledges are raising their familiarity with the brand, their trust, and their support to this company.

– OVERALL REVIEW – Grade 9/10

Following the Geek Wave campaign, interacting with other investors, it comes clear to the mind the reason of the incredible success of this crowdfund that raised 1 million $ in only one month. A clear product, a clear goal, and the elasticity to improve it following the preferences of the investors. A deserved 9 over 10.

UPDATE: the campaign finished on July 12, $1,321,851 raised.
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Let's understand Crowdfunding Concepts

Let the Crowd to build our Project

More than 155.000 project were launched on Kickstarter; pledging more than 1.2 billion US dollars in the last five years. Crowdfunfing is a growing revolution in the entrepreneurship world. But, who really understand it? What is the potential of this emerging tool?

Historically, crowdfunding is a brand new term that has its origin in the crowdsourcing concept. Even though the expression is recent, the concept was already well known. In 1783, Mozart published an invitation to raise funds for a concerto in a Viennese Concert hall. Another noticeable example was the project launched by Joseph Pulitzer for the construction of a pedestal for the Statue of Liberty in New York Harbor. More than 120.000 people pledged for the project.

And what about today? The main online crowdfunding platforms such as Indigogo and Kickstarter allowed thousands of new start up companies, artists and NGO’s to get started financially with their project. In return of their pledges, the investors not only get a financial gain but also some intangible rewards such as social esteem and identification with the funder community. The members of this community can collaborate with shared ideas and pools in order to improve the community’s benefit. In other words, crowdfunding is NOT anymore only a financial tool, but is potentially (and in facts) a new way to create value. The founder co-creates with his investors. The result of this process is the creation of a unique value for the young start up or artists.

However it seems that this intangible potential is yet to be discovered. This is the purpose of our blog: we are going to explore how funders are using these platforms in order to gain customers (aka co-producers) insights and engage them with the founders.

We will observe them, interact with them, judge them, and – we hope – we might help this tool to growth. We believe so, at least.

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