Lu Li is the General Manager & Head of Global Strategy at Indiegogo, one of the first ever crowdfunding platforms allowing backers to invest in new and innovative products. Previously, Lu held positions at Euromoney & Dailymotion in account management, social media and cross border marketing positions.
In this episode, we welcome Lu Li to discuss product crowdfunding, how to assess whether it would be right for your business and how to give yourself the best chance of success. Lu also gives insight into the cool products typically launched on Indiegogo and the things not to do when product crowdfunding. In detail, we cover:
- An introduction to product crowdfunding
- The ideal stage of product development for product crowdfunding
- Tips to effectively engaging with your community
- Considerations when setting your product perks & fundraising target
- Indiegogo fees
During the campaign
- The importance of marketing
- Using ads successfully on social media, including budget considerations
- Email leads and campaign promotion
- Options to extend your campaign / continue fundraising using Indiegogo's 'in demand' feature
- Logistical considerations when fulfilling campaign perks
- 1.00 - An introduction to product crowdfunding
- 1.40 - What is Indiegogo?
- 2.10 - Welcoming Lu Li
- 3.00 - The importance of marketing when crowdfunding
- 4.10 - Indiegogo v Kickstarter, what are Indiegogo's points of differentiation?
- 6.00 - At what stage of product development should you consider launching a campaign?
- 7.53 - Communicating your product development timeline to investors / backers
- 8.52 - What does an investor / backer get in return for funding a campaign?
- 10.30 - The cool products on Indiegogo
- 11.03 - Success stories
- 11.55 - The difference between product crowdfunding & business crowdfunding
- 12.19 - The key elements to a successful product campaign
- 13.59 - Overview of a successful pre-launch
- 15.30 - Using ads successfully on social media, including budget considerations
- 17.12 - Email leads and campaign promotion
- 18.00 - Engaging with your community pre-launch
- 19.04 - How to set your product fundraising target
- 21.10 - Setting your perks
- 24.10 - Indiegogo fees
- 25.02 - Options to extend your campaign/continue fundraising using 'in-demand'
- 26.16 - Logistical considerations when fulfilling your campaign perks
- 27.05 - The things not to do when launching your campaign
- 29.00 - Wrap-up