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Besides products, what else do successful crowdfunding projects sell?

Looper CEO Yongwoo Lee
2021-10-26270




Designers have many thoughts about how to market their own products. I would like to talk about one of the methods, crowdfunding. I started a brand called Looper, and Looper is a brand for people who are trying to balance their work and personal lives through traveling. Looper is growing into a smart fashion brand as it combines design and technology to create fashion products and develops an application useful for traveling. Looper has always met its customers first through crowdfunding to launch a new product since its establishment. We have once raised about 300 million won through a global crowdfunding campaign, raising funds not only in Korea but also in the United States and Japan. Crowdfunding is a portmanteau of the words “crowd” and “funding”. Before unveiling our company’s product or the product I have developed, we try to deliver on our promises to backers by taking pre-orders to raise funds and shipping products to consumers when we reach the fundraising goal and also reward them by offering discounts and various reward benefits. There is a new market for crowdfunding. Target customers may change from when you initially planned and developed the product. Since crowdfunding platforms showcase new products that never existed before, people who are interested in new products — and especially those who like new technologies or products that are actually useful in real life — are lining up to become backers of crowdfunding projects. That’s why early adopters mainly participate in crowdfunding projects. They are also professionals with deep knowledge. Therefore, they are the main target customers, mostly in their twenties, thirties and forties. According to the statistics, crowdfunding platforms have more male subscribers than female subscribers. Looper has a lot of products for travelers. We thought about who will be most attracted to our product when it gets unveiled and concluded that they are expected to be people who like crowdfunding projects. We have been launching many products through Wadiz, the largest crowdfunding platform in Korea and have successfully crowdfunded over ten projects this way. Then, what is a good example of a product detail page?

It is important to make a strong first impression. It would be great if you can come up with some catchy copy to grab attention. Even if the product detail page gets lengthy, you must include the actual product dimensions. To assure the quality, please make sure to list strengths of the product such as ingredients or patents without leaving out important information. It would be great if you can start marketing the crowdfunding campaign from two weeks to one month before its launch. In that way, customers will be informed about the crowdfunding campaign in advance, including when and where the product will be launched. I think it is very important to attract backers to your social media accounts or company website while running the crowdfunding campaign. If the product detail page is ready, shorten the URL using Bitly. The most important thing is to create an official website for your business. I recommend you to create videos with novice YouTube content creators to save more cost. Start the crowdfunding project after you have thoroughly prepared for it. I hope you get fully prepared for the marketing the crowdfunding campaign and achieve a great success.

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