How to Launch Your Innovative Product on Kickstarter

Kickstarter products in Singapore online stores

People who post their products on crowdfunding sites receive different responses. When you visit the Singapore Kickstarter platform, you will notice some projects have thousands of people backing it while others barely have ten people committed to seeing the project come to fruition. Sometimes this could be because the product is not appealing or the creator was not convincing enough. 

Crowdfunding is an excellent way to raise funds for your business, but even though it seems easy, it can be a challenge to get people to notice your project. It would help if you were strategic. Before posting your project and launching your campaign, you need to find out how to market it so that you can get financing. 

Focus on the product that is most likely to sell

Most of the people who have been successful in crowdfunding their business ventures chose to focus on only one product even when they had more to offer. The primary reason for doing this is people want to back tangible items and not several ideas. Remember, this is the first step to realizing your dream as an entrepreneur. 

Once you have financing, you can easily expand to having an entire store, and by then, you might have access to more funds. Ask yourself which of the items you have for sale can you market best and is most needed in the market. Once this idea takes off, you can then build a store easily, especially if you have an established client base. 

Who is your target audience?

Many successful entrepreneurs started their businesses because they discovered a gap in the market. More often than not, this need arose from personal experiences, which could be difficulty in finding an item they needed or the available products were too costly hence leaving people who cannot afford at a disadvantage. 

As you come up with your business plan, you need to identify your target audience. This will help you craft a proposal that those in need can relate with and even back it because they recognize the value of having that product in the market.

Even if the market seems to be saturated with a specific product, if that is what you truly want to sell, you should find loopholes in the items currently in the market and carve yourself a niche people are willing to get behind. 

Differentiate your product from similar ones

Unless you are creating a new concept, you’ll discover that you already have competition for the product you want to sell. If yours is unique and new to the market, the status quo may not remain for much longer. Someone will find ways to outcompete you. This is the cycle of a business, and you need to find ways to have a competitive edge over the other producers. 

You may opt to focus on how you package your products, price, or expand on usage to create a buzz about the product. You need to creatively make your product the only choice for buyers even when more people are selling similar products. 

Singaporeans are quite innovative, and if you are creative enough, you can come up with a product that many people can relate with and even offer to support financially through the Kickstarter store. However, sometimes all you have is one shot at making it happen, so you need to get it right the first time. Otherwise, people may lose interest or feel you are not ready for the business venture, so they may not be willing to invest in your project. 

Afterwards, look for various avenues to market your innovative product(s). Consider recognised and registered Kickstarter product stores such as The Novus Lab, Interstellar and We The People. Also look to sell on physical platforms and also social platforms like Lazada and Shopee. Always spread your net wider and you’ll be well on your way to making profits!

Popular Lifestyle Products on Kickstarter Campaign Stores

Kickstarter stores selling online in Singapore
Kickstarter stores selling online in Singapore

As crowdfunding becomes increasingly popular as a source of funding for product production in Singapore, some campaigns experience greater success than others. This is primarily because backers of the various Kickstarter campaigns choose products that they can relate to, and those they feel will make a difference in their lives. 

This is one reason why products with great backing tend to do well even after the campaign is over. However, many people shy away from products that have not been tried and tested. However, some of the campaigns provide solutions to some of the challenges people experience with some of the products currently in the market. This is an exciting aspect of the new products unveiled on Kickstarter Singapore. Such Kickstarter products are also found at The Novus Lab, that sells award-winning Kickstarter innovations and products. Read more here.

Tech Innovations

Singapore is the second most competitive country, after the United States, in digital development. Singaporeans are knowledgeable and creative in technological know-how, but they are also curious and willing to invest in tech products. This is one of the reasons for the immense backing of Kickstarter campaigns with tech products. 

Examples of products that have drawn the interest of many Singaporeans include the smart egg universal remote control, which allows you to use your smartphone to control any device in your home, especially when you cannot find your remote control. 

The other innovation that appealed to many Singaporeans is the single cable that charges up to ten devices with different types of ports. 

Travel Innovations for Bags, Clothes and Pillows

Singaporeans enjoy traveling, and many are interested in products that will make traveling more comfortable. This is why many Kickstarter campaigns that offer solutions to common problems encountered when traveling receive great backing and enough funds to start production. 

Some of the popular creations from Singapore include a travel jacket that comes fitted with an eye mask, bottle opener, gloves, neck pillow, magnetic earphone holder, cable hole, key pockets, wallet and pen slots, and a neck warmer. Understandably, such a travel outfit gets incredible backing and funding because it provides everything a traveler needs to travel light. It also allows you to move easily and comfortably since you won’t need to carry heavy baggage. 

Travel bags and backpacks are also popular Kickstarter campaign products that Singaporeans easily back because they come in creative designs and are both functional and aesthetic. 

Home Entertainment Products

Home entertainment products are also quite popular among Singaporeans. When going through recent Kickstarter campaigns, many people look for items that will make their stay at home more entertaining. This is the reason behind the demand for some of the excellent entertainment innovations in Singapore. They include portable karaoke systems, charging hubs, and many more. 

Kickstarter has made it easier for innovators to assess what Singaporeans like and how to get their attention. Knowing the products that are likely to sell well will save you time and money since you will design your products to meet the market demand. Understanding your target market will also guarantee sustainability and guide future innovations to complement your existing products. 

Where to Get Kickstarter Products in Singapore

Kickstarter stores in Singapore
Kickstarter stores in Singapore
Kickstarter stores in Singapore

Do you sometimes wonder how products that receive enough backing and funds on Kickstarter Singapore get to the market? Are you running a Kickstarter campaign and worried that you might not be able to manage the sales? You need not worry because there are several avenues for you to sell your products without being directly involved. This allows you to focus on the production and quality of the products. 

Singapore has several entrepreneurs who have chosen to sell Kickstarter products exclusively. This has been helpful to many startups, which don’t have the luxury that big brands have when it comes to options of where to sell the products. 

Many stores that sell well-known brands are skeptical about taking on new products. Since most Kickstarter products are from startups, entrepreneurs have trouble marketing and getting the products to the consumers. Additionally, not everyone visits Kickstarter to see the campaign products, or those that do may miss out on some of the products given the incredible number of campaigns on the Singapore Kickstarter store

Singapore is one of the top countries where Kickstarter campaigns receive immense support. With a population of approximately 5.6million, Singaporeans have contributed more than $6million of the $1 billion pledges to Kickstarter campaigns. This has encouraged many outlets to support the popular Kickstarter campaigns by providing a point of sale. 

Online stores

More than 50% of Singaporeans shop online. Several online stores are offering Kickstarter products for online shoppers. Some, like The Novus Lab, offers some of the best Kickstarter products at discounted rates. 

Since some of the campaigns take months, it is easy to lose sight of the products, especially as new ones quickly replace old campaigns. Buying from an online store saves you the time spent scrolling through Kickstarter, trying to figure out where the product you would like to buy. 

Retail stores

Although online sales have increased significantly in Singapore, a significant portion of the population still prefers walking into a store to buy products. This is why several retail stores are offering Kickstarter products. 

This is a great option for those seeking instant gratification by getting the products as soon as they buy them. When shopping online, you may need to wait a few days for the products to be shipped. You will also save the shipping costs often attached to the products. 

Since some of the products on Kickstarter are innovations, some buyers remain skeptical about the quality and functionality of some of the features. Buying from a retail store means you get to inspect some of the features and determine if you should spend money on the item or not.

Some online stores do not encourage returns, so you will be stuck with a product you don’t need or one that doesn’t work as well as you expected. Additionally, you can easily bargain for a discount, especially for bulk purchases, when buying from a retail store. 

Why shop at online Kickstarter stores?

Many stores that carry Kickstarter products don’t just focus on those that have enough backing or funds, but they also advertise products that have great potential even though the set targets are yet to be met. This is an excellent way to create awareness about products, especially to people who don’t visit Kickstarter frequently and may miss some of the amazing products on offer. 

Directions

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