First, thank you to my amazing readers. To say that I had an overwhelming day is a bit of an understatement. The Kickstarter reached its goal in record time, less than three hours after I first posted it. We met and then blew away the stated goal. It means a lot to me that you're so connected and generous.
As promised, I'm going to do a few updates to share data and insights that might help the next person.
Half the people who visited the page watched the video all the way through to the end. I'm guessing that's 5x what happens on YouTube. There's something about the medium of a Kickstarter page that makes the video even more important than you'd think. I'm glad I reshot mine (and made it shorter).
A fancy video isn't important unless the product you're selling involves video. Direct and clear beat clever editing and dissolves every time.
Scarcity cuts both ways. I stated from the beginning that my goal wasn't to maximize the revenue generated from the page, and it was clear within minutes that many readers were excited to be part of something that was limited. Of course, some people got upset by the very same thing--it's hard to balance scarcity (a signed edition, say) with abundance (spreading ideas far and wide).
People are smart. This Kickstarter had ten levels, which felt like a lot when I built it, but I bet the audience could have figured out their favorite choice if there had been twenty.
I'm not sure your goal should be to make the topline number as big as possible. The whole idea of measuring the revenue of Kickstarter makes no sense (how much does it cost to make a Pebble watch or record a CD?) No one really knows what your costs are, but it's the costs that matter, not the revenue. That's obvious, yet we're busy talking about what people 'make' on Kickstarter, and many Kickstart builders are trying to structure the offer to push that number up. No need. It doesn't matter. Maximize what's important to you, not the pundits.
Folks who put up links to your Kickstarter are generous beyond measure. Even more important is permission to talk to a tribe that cares about you and what you make. Build that first.
If you're thinking about skipping the permission step when you build your campaign, please reconsider. This is the one and best secret of Kickstarter.
Thanks again to everyone who took the time to talk about it, watch the video and participate. If you're interested, there are some rewards that aren't sold out. For me, it's back to writing, working on making you the best book I can.
Here are some of the top stories from the White House blog:
On the Clock: Explaining Refinance in 60 Seconds (Or Less) In case you still have questions about how the President’s proposal works, we asked Jim Parrott, Senior Advisor for Housing at the National Economic Council, to go “on the clock” and explain the proposal in sixty seconds (or less)
Weekly Address: Ending the Stalemate in Washington President Obama tells the American people that the stalemate in Washington is holding our economy back during this make-or-break moment for the middle class.
When I suggest that businesses should think about creating some content I’m frequently met with objections like -
“But my niche is boring – no one cares!”
Actually I don’t think that there’s such a thing as a ‘boring’ niche, but I do understand where they’re coming from. It’s definitely the case that coming up with ideas for great content is tougher in some than others – but there are companies out there doing it already. As such I wanted to put together this post highlighting some companies who are already doing great things in tough markets. Undoubtedly some of them you’ll have seen or heard of before, but I’ve deliberately tried to come up with some other examples that hopefully you won’t already have heard of.
I hope this will serve as inspiration or food for thought if you will.
Got your tea / coffee / gin and tonic at the ready? Let’s do this.
Garden sheds – that’s a tough niche at first glance. Except of course that people are really passionate about their humble sheds and some people’s sheds are pretty damn amazing. With this is mind, to appeal to all the sheddies out there Reader Sheds run an annual competition to find the shed of the year – they have over 1800 entries this year.
Fiskars started out way back in 1649 and originally produced iron. In 1967 they were the first company to produce plastic handled scissors. Today they’ve diversified somewhat but their mainstays are still scissors and other paper cutting tools and they also do gardening equipment.
In terms of content Fiskars have elected to tap into the community of people who use their products – namely those interested in arts and crafts. The Fiskarettes blog contains loads of art and craft ideas and readers are also encourage to submit their own projects – in Fiskar’s own words: “We want to offer you an environment where you will be able to exchange your love of crafting with others, to share your passion, showcase your creativity and share your expertise.”
What can we learn from these companies?
I think the key message here is - go big or go home. If you want to get the attention of an existing community of people you’ll need to spend significant time and resource creating awesome content or in Reader Shed’s case – running their annual competition. You’ll also need to work hard in terms of outreaching to that existing community to get them involved. Plus of course in order for this to work there needs to already be an active community out there. Whilst it’s certainly not for the faint-hearted, or those who are light on resources the potential benefits are huge.
Simply Business are an insurance broker in the UK. Rather than creating content exclusively around insurance, instead they’ve taken the approach of creating content and resources which small business owners will find useful. In addition to creating short-form blog post content they’ve also created guides for social media, PPC and productivity –
Tessa Shepperson is a landlord and property solicitor in the UK. She started blogging back in 2006 and uses her blog to comment on legal developments, new regulations, answer reader’s problems, and discuss relevant reports and consultation papers issued by government and relevant organisations. She also runs a school for landlords and creates resource content like this questionnaire that explains which sort of tenancy agreement you ought to use
Salesforce have created some fantastic content around how businesses can harness the power of social media including expert interviews, how to guides and case studies. Kieran has already published a post explaining their strategy and how it worked for them.
What can we learn from these companies?
I’m a huge fan of content strategies focused around a particular business’s customers – creating content your customers need or want; or will just plain love – it’s a no-brainer, right? What’s interesting to me is that you don’t need to see your own product or service offering as a limitation in terms of what you can create. Just because you sell insurance doesn’t mean that all your content needs to be about insurance.
Landlord Law is an interesting example as the content seems to have led the business in different directions – what started out as a single solicitor’s blog is now a business in it’s own right – 3 different sites, some subscription content, training, tools etc.
These guys offer an alternative to skip hire – skip-sized bags... How strong are they? They tested them out with a SMART car... Nice use of video to demonstrate the product.
Air conditioning might not be sexy, but this company definitely has a great sense of humour. Way back in 2009 they published a post about a woman who saw the Virgin Mary on her air conditioning unit - pictured above. Ashton Kutcher tweeted their post and it went hot on a whole bunch of social networks.
These guys definitely are owed an honourable mention for shaking up the shaving market with *that* video :) I’ve elected to put them in the ‘using content as a tactic’ bracket as to date they’ve only done the one video – albeit a very successful one.
What can we learn from these companies?
I think that the examples above highlight that even in tough niches you can create great one-off pieces of content without breaking the bank.
I’ve struggled to categorise BlendTec. Some might disagree, but I think BlendTec create those videos for the YouTube community rather than their key customer base. Are the people who watch those videos in the market for a blender right now? Probably not. But one day they might be, and when they are they’ll probably remember BlendTec.
What can you learn from them? Think outside the box and have fun.
Bonus! Great content; but arguably not a tough niche...
I’m not sure if ukuleles really count as a ‘tough’ niche or not; but either way Al Wood has created an amazing resource. Rand’s dubbed it the SEOmoz of ukulele playing.
Hopefully you’ve found this useful, I’ve certainly had fun pulling it together. Got some more examples? Do let me know via the comments.
Need some content ideas? Leave a comment explaining your product / service & your target market - myself and the awesome Moz community will try and come up with some ideas for you.
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Books take a long time to invent, produce, ship and go on sale. Almost all of that work happens on faith, and it's then followed by a frenzy of promotion and anxiety, as the publisher and author try to find out if there's actually desire for the book. Activating the tribe at the end of the process is nerve-wracking and inefficient. For the reader, it's annoying to hear about a book 32 times from a panicked author who has her back against the wall, and then in every media outlet you turn to.
As part of my 25-year quest to find a better way to make and promote books, I'm launching a hybrid experiment today. The idea is to do it in public, and to use widely available tools that can be emulated by other authors and other publishers if it works.
The problem with traditional publishing is that you do all the work and take all the risk before you find out if the audience is ready and willing to buy the book. And you have only a few days to go from "it's new" to "it's over."
I think there's a new way to think about this, a hybrid of old and new, one that activates true fans and makes it easy to spread the idea through the tribe and beyond.
It starts with a Kickstarter* page. A lot of the details of what I'm describing are on that page, so feel free to check it out when we're done here.
A successful Kickstart is great (Amanda Palmer is our hero), but what happens after that? How do you take the buzz and connection and scale it?
My idea: Kickstart + bookstore + ebooks.
The publisher (my key to the bookstore) is only willing to go ahead with the rest of the plan if my Kickstarter works. No Kickstarter, no distribution, the stakes are high. (As you saw at the Domino Project, the ebook part is easy now, but the bookstore is still critical to reach the many readers who find and buy books in stores).
If the Kickstarter works, then all the funders will get to read the book before anyone else, plus there are bonuses and previews and special editions. A few weeks after the early funders (that would be you) get to read it, the book will be available to book buyers for purchase the traditional way (wherever fine books are sold in the US, including digital readers). Of course, the Kickstarter funders get a better price, get it first and get unique bonuses, plus the pleasure of being in early--and knowing that they made it happen. The only way this book becomes real is if my readers get behind it now.
By using Kickstarter early in the process, we eliminate book publisher/bookseller skepticism and create the excitement they need to actually stock and promote the book. Those books you see stacked up by the front window at the bookstore? That's not an accident. That's a promotion planned months in advance, based almost entirely on how optimistic the publisher is about a book's prospects.
So that's the idea--a way that any author with a following can divide the publishing process into three pieces--get the true fans on board early, give them something to talk about just before the book is in stores, and then use online and offline bookstores to do what they do best and distribute far and wide. It moves the power in the process to where it belongs--to motivated readers and their authors.
It's not easy to build a following, and it takes time, but I hope you'll help me show authors and publishers that it's worth it. Here's a short link you can share: http://kck.st/KvkY4h
I'll update you four times in the next four weeks about how we're doing. Thank you for helping me make this work, and for publishing your own great idea as soon as you are ready.
* [Three Kickstarter details:
Kickstarter is a free website that allows artists to give their fans a chance to show their interest in a new project.
Kickstarter doesn't charge you (or me) a thing unless the project meets its minimum. After that, you're charged for what you pledged and you are guaranteed to get the reward you signed up for.
This is the rare Kickstarter where there's not an unlimited inventory of rewards--every item is limited. When a reward is gone, it's gone.]
Only vague references in the article pertain to concessions.
"German Foreign Minister Guido Westerwelle said negotiators could consider giving Greece more time to fix its finances, telling ZDF television that the political gridlock over the past six weeks "has done damage."
The hope of nannycrats is that vague promises to "soften stance" will lead to a coalition between New Democracy and Pasok. Perhaps it will. Pressure on Pasok will be immense.
A victory for Europe (or French and German Banks)?
The leader of Greece's pro-memorandum conservative party has claimed victory in the country's second election in as many months, describing it as a "victory for Europe".
"The people of Greece have shown their will to stay anchored in the euro zone and honour our commitments," said Antonis Samaras, in a victory speech delivered in Greek and English.
"They have voted for a European course and our stay in the euro. They voted for jobs, justice and safety. No more adventures."
How is this a victory for Europe? How is it even a victory for Greece? The only victory is for the stock market and bondholders, at taxpayer expense of course.
"No more adventures" says Samaras. "Wanna Bet?" replies Mish.
Short-term Greece stays in the eurozone. The irony is, perhaps this will force Germany to come to its senses and say "you can have it".
A German exit will not happen as long as Merkel is running the show, but the moment the decision is put to voters of Germany in an official referendum, anything can happen.
I believe the German people are likely to (and should) say to hell with it all. After all, the euro project has been a spectacular failure.
Sticking with quotes from the Guardian Live Election Blog, New Democracy leader Antonis Samaras "Will Honour Commitments to the EU".
Samaras summarised his speech in English:
His party would honour commitments to the EU. It was a victory for all Europe. A call for all political parties that share objectives to form government. Sacrifices of Greek people will be reflected. Determined to do what it takes and do it fast.
That message is not going to play well with Greek voters given his pledge to change conditions.
Coalition Depends On Pasok
At this point it is up to Pasok. Will that party form a coalition government or not?
Results look something like this:
New Democracy will receive 29.53% of the vote, equivalent to 128 seats. Syriza will receive 27.12% – 72 seats. Pasok will receive 12.2% – 23 seats. Independent Greeks will receive 7.56% – 20 seats. Golden Dawn will receive 6.95% – 18 seats. Democratic Left will receive 6.23% – 17 seats. Greek Communist Party will receive 4.47% – 12 seats.
Unless Pasok is willing to enter into a coalition government, there is no likely coalition with New Democracy.
Then it would be up to Syriza to form a coalition.
The euro hit a three-week high against the U.S. dollar after official Greek election projections showed parties committed to Greece's multi-billion-euro bailout were on course to secure a slim parliamentary majority.
The euro rose to around $1.2730 according to Reuters data in early Australasian Monday trade, from around $1.2655 late in New York on Friday. It hit its strongest since May 22 according to Reuters charts.
Addendum:
I had originally posted that the 50 bonus seats would go to Syriza if New Democracy failed to form a coalition. Some pointed out that is not what happens. If so, then if New Democracy fails to form a coalition, then no coalition is likely.
In the last 15 minutes I have changed this blog headline a few times from various forms of likely winner for New Democracy to "winner".
The key news now is that it still depends on Pasok , which has stated unwillingness to enter into a coalition with New Democracy and refused to do so in the last election.
7.53pm: Horsetrading between the parties has begun:
Pasok has been publicly stating that it will not join any coalition without Syriza.
Pro-EU New Democracy on the other hand has been talking on Sky News about a "grand coalition".
Panos Kammenos, leader of the Independent Greeks, a right-wing party that could have been in line to ally with New Democracy has told the press that the party is keen to support a government that will condemn the bailout agreements – that would in effect rule out a deal with New Democracy.
7.36pm: The official projection figures for the election have now been announced by Greece's interior ministry. Greek pollster, Marika Lambrou, said this:
There will be seven parties in the next parliament, as was the case on 6 May. There will be no upset in the order of the parties but there has been a "considerable increase" in the number of votes for the two leading parties.
New Democracy will receive 29.53% of the vote, equivalent to 128 seats. Syriza will receive 27.12% – 72 seats. Pasok will receive 12.2% – 23 seats. Independent Greeks will receive 7.56% – 20 seats. Golden Dawn will receive 6.95% – 18 seats. Democratic Left will receive 6.23% – 17 seats. Greek Communist Party will receive 4.47% – 12 seats.
Unless Pasok is willing to enter into a coalition government, there is no coalition with New Democracy possible.
Addendum:
I had originally posted that the 50 bonus seats would go to Syriza if New Democracy failed to form a coalition. Some pointed out that is not what happens. If so, then if New Democracy fails to form a coalition, then no coalition is likely.
Condemning the outside interference in the election, Greek blogger Nick Malkoutzis, who is also deputy editor of deputy editor of Kathimerini English Edition, writes that "Europe that has become scared of democracy".
This is the quid pro quo of the loan deals: Greece receives money in return for certain fiscal measures and structural reforms. Nowhere does the agreement dictate how people should vote in a free election.
This hasn't prevented a number of European officials from expressing an opinion about their preferred outcome of Sunday's vote. The latest to do so was Luxembourg Prime Minister Jean-Claude Juncker. "If the radical left wins – which cannot be ruled out – the consequences for the currency union are unforeseeable," said Juncker, who as head of the Eurogroup also holds an institutional role within the European Union, a role that – theoretically – implies neutrality on such sensitive issues as national elections.
Juncker's comment is in keeping with repeated interventions by Europeans over the last month. Their comments implied a deep disapproval of potential choices by free citizens. This began in February when German Finance Minister Wolfgang Schaeuble made the incredible suggestion that Greece should hold off elections and allow the interim government led by Lucas Papademos to stay in power for longer. This revealed a Europe that has become scared of democracy, unable to deal with the uncomfortable realities that it can produce.
Indeed, the nannycrats do not want voters to decide anything. Their first preference is to have the nannycrats (themselves) to decide everything.
Their second preference is to have politicians decide everything. Should actual votes be necessary, the nannycrats promise Armageddon if they do not get what they want, holding repeat elections until they do get what they want.
When politicians do not abide, they are forced out and replaced by technocrats, such as happened in Greece and Italy.
The Youth Vote Last and Vote Left
Here are some comments I selected from the Guardian Election Blog
#Greece Pollster Stratos Fanaras saying a part of voters-mainly younger people who came to vote in last 2hrs-refused to answer to exit polls
Two important data: 1.Youngsters vote last. 2. Youngsters vote for left #Greece2012 #ekloges12
SYRIZA 28, ND 27.5, PASOK 13, Dem Left 7.5, Ind Greeks 7.5, GD 5.5, KKE 5.5 Skai TV opinion poll, not exit poll #Greece2012
News in from Helena Smith, our correspondent in Athens, on the latest unofficial exit polls being conducted on behalf of political parties ahead of the close of the ballot at 7pm local time (5pm BST). "I have just spoken to a senior cadre in the socialist Pasok party where unofficial polling results are being monitored on a two-hourly basis. The next few hours are crucial as the rush to vote has only just begun among young people," he told me. From now to the close of the election polling stations are likely to be packed."
This looks close, and at least a 50-50 chance for Syriza. I suggest as much as 60-40 if the comment about youth voting left and last is correct.
Greece is destroyed in either case. The question is how fast it will recover. Total default on debt is a great first step, even if the rest of Syriza's policies cannot work.
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