Kickstarter: what is it all about?
Updated: Jun 27, 2019
It’s been months that we are working on our crowdfunding campaign at AllWize and before we launch we think it’s necessary to explain what is crowdfunding, why we do it and what our campaign is about.
Our kickstarter campaign is not to be launched today but we are now entering the pre-campaign phase! What is it? It is maybe the most important phase, we need to make noise and try to gather a community around your crowdfunding campaign even before it is alive!
First and foremost, what is crowdfunding?
Crowdfunding is “the practice of funding a project or venture by raising money from a large number of people who each contribute a relatively small amount, typically via the Internet.” according to the Oxford Dictionnary.
Often, people get idea that crowdfunding is only meant for social projects that try to save the planet or the human race. But this is not always the case! Crowdfunding is also a very useful way to start companies.
AllWize is a small and newly born startup and does not have the funds yet to finance the first batch of our new product the AllWize K2 which is already designed. Backing us will enable you to buy the AllWize K2 in pre-sale and this money will help us produce the product you paid for! If you like it you can back us in our crowdfunding campaign.
But why not going to a bank?
Indeed, there are other ways of “getting money” through loans, banks, private investors, venture capitalists, and so on. But would go to your banker to ask for only €5K? Probably not.
In our case, our crowdfunding campaign is meant to help us to finance the first batch of our product, the AllWize K2. Our contributors, called backers on Kickstarter, are not giving away money for nothing. They back us for a “pledge” and we will make sure that every single one backer will get his/her pledge.
But crowdfunding is not all about money...
Yes yes, you heard us ;)
Another reason to do a crowdfunding campaign is to create a community of users. Our main consumers are makers and they are fond of crowdfunding and are an extremely valuable source of feedbacks. Kickstarter enables us to reach people with technical background that can help us improve our products.
Crowdfunding is also a way to see whether your product fits the market. If it does not, you will know straight away by not reaching your goal. This sounds pretty bad but it is rather a chance. If you don’t reach your goal, backers get reimbursed and you don’t have to even produce your product. You won’t be left with thousands of products that no one wants to buy. It’s a risk to take and the truth can be harsh but no product will go to waist!
In the same vein, crowdfunding is a way to test your pricing strategy, if the price is not the right one you will know very quickly.
So what’s AllWize campaign about?
Our campaign is meant to sell the first batch of our AllWize K2, a smaller and more powerful version of our already existing AllWize K1. The perks of our product is that you can create easily amazing IoT applications using the new Wize technology! We have imagined 3 IoT applications made possible with Wize and create pledges to create them at home. Check it out here!
If you’re interested in our project check and sign up on our kickstarter page 👉🏻www.allwize.io/kickstarter