Often times crowdfunding creators get so focused on the crowdfunding campaign itself and bringing in as much money as they can that they don’t even think about what happens afterward. While this is completely understandable, the process of fulfilling all of your backers’ orders is more intricate than most realize- no one thinks about how to go about shipping that many packages, balancing backers’ expectations of quality with their expectations of receiving the product on time, or even gauging production needs. So many details go into the post-campaign phase of the project, but as a creator, you can’t really focus on any of these details until you know exactly how much money you will have at the end of the campaign. That’s where BackerKit’s BackerTracker can help you as a creator.
Planning for Production and Fulfillment
BackerTracker came to fruition to give creators a projection of how much money they will have raised at the end of their campaign so that they can make the decision to ramp up production and fulfillment earlier than anticipated if they need to- this will help creators meet deadlines they promised their backers and exceed expectations. BackerTracker is able to give creators a prediction of what they will be making by using “the historical performance of past campaigns to predict the performance of a new campaign.” They take your project and find previous campaigns with similar funding trends, and then use the nearest neighbor approach to come up with a weighted average of all the past campaigns. The analysis you receive is ongoing and continues and changes as your campaign progresses, which means you will get a new projection if you get a sudden influx of funding.
BackerTracker also has a “trending” page that can appeal to both crowdfunding backers and creators alike. It shows crowdfunding enthusiasts new and innovative projects on both Kickstarter and Indiegogo that they may want to support. This feature is also a platform for creators to see high-performing campaigns, which allows them to do research on what those campaigns are doing successfully.
BackerTracker is there to help creators anticipate the post-campaign fulfillment phase of their project. For more information on how to run a successful crowdfunding campaign and learn more about what to do after your campaign ends, visit us here.