PHOTOCOASTERS - Your Photos, Our Coasters

[Beyond Acrylic]

Hello BackerClub! Thank you all for your generosity in supporting our project today! We hope to continue this trend for the next 4 weeks

http://www.kickstarter.com/projects/bey ... ocoasters/

As an exclusive BackerClub member, we feel your experience and opinion is very important to us. We would like to share our projected stretch goals with you and get some feedback.

Stretch Goal #1: $5000 goal, all backers get 1 additional coaster. (4->5, 6->7, 8->9). (This means a 2nd additional coaster for BackerClub backers)
Stretch Goal #2: $10,000 goal, all backers get a 2nd additional coaster. (4->6, 6->8, 8->10). (this means a 3rd additional coaster for BackerClub backers)

We are specifically looking for feedback regarding the stretch goal amounts, as well as the value for reaching each amount.

If you have any other suggestions or comments we would love to hear them

Thank you for your time and looking forward to your replies!

[TashaTurner]

I always look to see what the stretch goals do for the creators as well as backers. Will you get a better deal on manufacturing from the higher numbers?

Are you using a these as incentives to get backers to pledge at higher levels? Or is this to bring in more backers?

[Beyond Acrylic]

I always look to see what the stretch goals do for the creators as well as backers. Will you get a better deal on manufacturing from the higher numbers?

Are you using a these as incentives to get backers to pledge at higher levels? Or is this to bring in more backers?

Manufacturing will be a bit cheaper, but will likely not completely cover the cost of 1 additional coaster.

The main objective of using these specific stretch goals is we feel they're beneficial to both current backers as well as new potential backers. This means our current backers have an incentive to get a better bang for their buck and are more likely to promote to their social circle.

[BoardSeat]

If I understand your stretch goals correctly, you are using them as milestones such that if you hit them, your costs rise because you are giving away more coasters...for free?

If this is the case, it is the opposite of economies of scale. I cannot predict the future but you don't always have to entice people to fund by giving stuff away for free. Instead, build the brand, the value, the community or whatever else you think might stick

good luck, greg

[TashaTurner]

I'm with Greg on this. Losing money on stretch goals can put a project in jeopardy.

Instead you could offer an "Instagram photo tips & tricks" PDF at the 1st stretch goal.

You could do a sharing incentive - bring in 5 backers at x level and above & get 1 free coaster - have a special email setup for them to send name of people they referred and/or for referal to drop you a note with who referred them.

[Beyond Acrylic]

I completely understand your point of view, but at the same time, let's suppose the campaign finishes with $5,001, and I need to cover the cost of an extra coaster for each order. That will still be more cost effective than having more early bird promotions.

Early birds are taking away 4x more potential profit than offering an extra coaster per order. Plus once all of the early bird rewards have been claimed, what incentive do current OR potential backers have with continuing to promote the campaign?

[TashaTurner]

I completely understand your point of view, but at the same time, let's suppose the campaign finishes with $5,001, and I need to cover the cost of an extra coaster for each order. That will still be more cost effective than having more early bird promotions.

Early birds are taking away 4x more potential profit than offering an extra coaster per order. Plus once all of the early bird rewards have been claimed, what incentive do current OR potential backers have with continuing to promote the campaign?

Cool product? That's usually the main reason I promote a Kickstarter.

As I mentioned in the comment right above this a share promotion? A contest to win personalization? I mention at least one other idea in the comment above this.

If it works for you financially go for it on the "SG get an extra".

From the Exploding Kittens campaign I saw all sorts of ways to get people to share & publicize a campaign without giving many extras away - check them out for ideas. Given you are a photography project based around Instagram a social media platform I bet you could come up with some creative stretch goals based on taking & sharing pictures as well as # of followers.

[TashaTurner]

Love the stretch goals you went with.

[Beyond Acrylic]

Love the stretch goals you went with.

Thanks Tasha, and thank you for the feedback!

[TashaTurner]

You might want to do an update on "the making of photo coasters" in more detail than the story page for geeky people. How it gets from my phone all the way to being a coaster.