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11:57 am
October 28, 2011
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QuoteHey All,
I'm going to be starting a fan funding campaign tomorrow on the IndieGoGo website. If any of you have had successful, or not successful, fan funding projects I would love to hear your story and any tips you might have for me.
The album is called "Space Probes" and contains musical interpretations of select space probes of achievement. Unmanned robotic spacecraft that explored moons and planets in our solar system (Voyager 2, Galileo, etc.). I'm a new age artist who records under the name ALBEDO. It's scheduled to be release at the end of August.
I think my biggest selling point for the campaign is that I'm donating a portion of the sales to my local planetarium. Let me know what you all think!
- Doug Clyde
ALBEDO MUSIC
- Doug Clyde, ALBEDO, http://www.albedomusic.com
3:29 pm
June 7, 2011
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Hey Doug,
I think a lot of people see fan funding as separate from traditional sales. I think any KickStarter-like platform is really just another sales platform, and like anything, the money you generate will be in direct proportion to the size of your list.
The plus with crowd sourcing is that people are pretty accustomed to it these days and tend to think of it as something a little more "fun" than just placing a traditional order, and it seems people are more comfortable going with bigger packages in these kinds of environments to show their support.
But I personally don't think the planetarium is much of a selling point. It's interesting, but it wouldn't make me donate all on it's own. It will be the rewards themselves, in combination with whatever bond I feel with you as an artist and person that would get me to donate.
So my advice is to stay focused on using your existing list, and communicating with them just like you would if you were going after a sale. And really highlight the "what's in it for them" factor.
Hope that helps.
Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.
4:26 pm
October 28, 2011
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John,
Yes, that helps. I've been trying to use a lot of "you" statements in my e-mails to let them know what's in it for them. We'll see how it goes. It just went live. I'll provide the link below just in case you want to check it out. It's Indiegogo, so I get to keep all donations no matter what. My perks are pretty standard, so hopefully I can build a relation with them.
https://www.indiegogo.com/proj.....usic-album
- Doug Clyde
ALBEDO MUSIC
- Doug Clyde, ALBEDO, http://www.albedomusic.com
4:24 am
June 7, 2011
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Awesome, you've set a realistic number so I'll bet you get there. Looks like you're 20% of the way so far. Keep it coming.
Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.
8:41 pm
October 28, 2011
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John,
Thanks! I hope so. The first 20% is from family and friends, so the rest is going to be more difficult. I have a small fan base, so I knew a low number would be best. Besides, that's all I need. Also, I have it set to flexible funding, which means I get to keep everything whether I reach my goal or not. There's a smaller fee if I reach my goal, so that would be nice.
So, far my conversion rate has been 3% (meaning 3% of those who visited my page have donated). I'm not sure if that's a good or bad number, since I don't have much experience with fan funding. Fan e-mail hasn't been so great. 20% opened the first message, 40% of those clicked, but none have donated. Obviously, I'll be sending out more e-mails throughout the campaign, and I'll try to be more engaging.
I'll keep you posted on how things go. Thanks a bunch!
- Doug Clyde
ALBEDO MUSIC
- Doug Clyde, ALBEDO, http://www.albedomusic.com
7:39 am
June 7, 2011
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Sounds good. Keep at it. While I haven't personally run my own Crowd Funding campaign, I would expect to see a conversion rate similar to my sales conversion rate, against the total number of subscribers. Hope you reach your goal.
Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.
9:05 am
October 28, 2011
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Here are the stats from my Indiegogo campaign!
I should have posted this sooner, but I've been busy getting my new album ready for release this month. Technically, I didn't reach my goal, but I still got what I originally wanted. So, in a way I achieved my goal. Indiegogo has a minimum goal price, so I had to raise my goal higher to meet that requirement.
I topped out at 68% after running the campaign for 30 days. It had a conversion rate of 0.1% (meaning 1 out of a thousand of those who visited my page on Indiegogo contributed to the campaign). Of those who contributed, 70% came from Facebook, 23% from other sources (e-mail, direct links, etc.) and 7% from the Indiegogo website. Also, 70% were my personal friends, 7.5% were from my e-mail list, and the rest were family members, online friends, and strangers.
$26 was the average contribution. 9% of the money raised went to Indiegogo (it would've been only 4% had I reached my goal), and 3% went to credit card fees or PayPal fees depending on how they paid. So, I got to keep 88% of what I raised.
My best performing Facebook ads, which were boosted posts, converted at $0.56 and $0.45 per click. I tried a variety of different interests. What worked best for me was people who liked my genre or similar artists. People who liked my page and their friends didn't perform as well.
- Doug Clyde
ALBEDO MUSIC
- Doug Clyde, ALBEDO, http://www.albedomusic.com
9:22 pm
June 7, 2011
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Hey Doug, thanks for sharing. Glad you were able to achieve your goal, even if it wasn't technically 100% funded. Now the fun part, putting the funds to use 
Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.
2:49 am
October 28, 2011
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The money is already gone. Spending is the easy part. Digital perks were delivered today. Physical CDs will be done duplicating within 2 weeks. Once they've been mailed my Indiegogo work will be over.
- Doug Clyde
ALBEDO MUSIC
- Doug Clyde, ALBEDO, http://www.albedomusic.com
7:19 pm
June 7, 2011
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Well done.
Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.
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