In the last few years, KickStarter has become a household name. It has become so large, that there are numerous websites with similar structures geared towards different types of projects. I myself have backed two Kickstarter and one Indiegogo campaign.
These crowd funding sites have opened up a new form of marketing, specifically to artistic individuals and start ups. It combines market research, funding, and sometimes prototyping. The best example of this new economic tool put to use is by my friend, Colin.
Colin is often known as the “crazy piano guy” who brings a baby grand piano to Washington Square Park (almost) every day and plays for hours. He’s utilized KickStarter a number of times, to help him buy a baby grand, and to help him get the money to finish various albums. One of his album campaigns did a great job of explaining an artist’s struggle: proving they have value.
In Colin’s campaign to raise money to finish mastering his concept album, he said “the thing that will really make the difference in deciding whether this project will be finished or not is having people show me that they want it. After all, in the end, there’s nothing better than knowing that people value what I do, because it makes them [smile].”
With KickStarter, products and services become reality when there are people who are already interested. This eliminates the risk of making something that no one actually wants (something I’m sure Coca Cola would have wanted to know when releasing New Coke).
How do you feel about crowd sourcing?