[EPFN] Is raising $1.5M per product real?
Welcome to issue #4 of the Ecom Product Finders Newsletter!
How much money will you have in your pocket after a successful crowdfunding campaign?
The answer is at the end of the newsletter.
Today:
🤷♀️ Childhood Problems: I Always Feel Fat
🚀 Why Kickstarter Makes Sense
🔑 How to Increase Conversion Rate with One Simple Action?
💼 The Way to Launch a Product or Brand Using a Newsletter with Minimal Financial Investments
📦 Save Money on Storage
🤷♀️ Childhood Problems: I Always Feel Fat
Most of us have problems that stem from childhood. I have a lot 🙂
One of them is feeling fat.
When I was 14, I started gaining weight. My grandpa (R.I.P.) and uncle would say that I need to lose weight and that I’m fat. Imagine hearing that from a man at the peak of puberty?!
I was chubby, about 64-66 kg, which is around 146 lb, with my one-foot height when I jump on a stool.
This feeling led me to be on a diet for the majority of my life, even when I was 110lb.
After our baby Liam’s birth, on March 1, 2023, I gained about 18lb. OBESE. In my head. Everyone around me was saying: “You just had a baby. It’s normal.” In my head: It’s not an excuse. Not being able to fit into any of my clothes made me feel depressed.
Seeing my friend, Joie Roberts, being fit and looking hot like she’s from the cover of a magazine, I couldn’t stay still.
Today I’m at Prosper, and I’m one pound away from my pre-baby weight.
And there is no magic. It’s just commitment and willpower. When everyone is consuming cake, I’m on my “favorite” protein diet.
There is still a lot of work to be made, and the main part is to maintain the results. The same is in business: a successful startup is not a guarantee of consistent growth.
🚀 Why Kickstarter Makes Sense and How You Can Use This Approach to Spark Your Brand
This campaign is still live, and you can see how a little bit of creativity can make a big difference.
Launching a Kickstarter campaign is not just about gathering funds; it’s about sparking demand across all platforms. As you gear up for the launch, something magical happens: your audience begins searching for you by name, eager to see what you’ll bring to life. It’s a bit like becoming a celebrity before you’ve even hit the stage.
Your main questions will be: how much can I make, and how much investment is required?
On average, you’re looking at needing around $40-$60K to get the wheels turning. This chunk of change goes into building and testing your product, manufacturing the sample, and blitzing the market with your story. But here’s the kicker: if you play your cards right, lenders are lining up to top off your marketing budget, betting on your campaign’s success.
We’re talking about the potential to raise in $1.5M on average. And the best part—you’re not in debt to backers.
Your only “debt” is to ship those backers the product they believed in. No strings attached, just pure entrepreneurial spirit meeting market demand. Also, you don’t need the budget all together. It’s a 6-8 month stretch.
Ritz Momentum is in the process with one of our clients, launching as we speak. I’ll spill the beans on our journey, sharing the ups and downs and everything in between in 2-3 months from now.
And don’t think your product needs to be the next tech marvel. We’ve seen incredible success with projects art based.
Kickstarter is about building a community that will help you with all your future launches. Your goal is not just to raise money but to acquire as many qualified and targeted emails as possible.
Here is many more things to unpack. Please reply to this email with the questions if you have them.
Also, check out how one of the trending brands is killing the market right now because of proper marketing and influential campaigns. They were on Shark Tank, which helped them with their awareness a lot.
🔑 How to Increase Conversion Rate with One Simple Action?
Key to Success: Convert clicks into sales.
The foundation of this is that you have to be relevant to the buyer’s search. If you are selling a dog ramp for small dogs, you have to show the dog ramp with the dog relevant to the search size on it; It cannot be a golden retriever if the product is for a dachshund.
🐕 Make sure to place a box/packaging next to it, where you will display the benefits of the product and the problems you are solving.
📦 Which means, you have to make your client confident in solving their problem from the moment they glance at your main picture.
⏱️ 1-second rule You should not use a picture on a plain white background; you should place your product, using the angle that will give your client perspective about the product, including usage.
📐 Don’t forget that Amazon allows showing pictures in the interiors as long as it helps clients to understand this product better; you just have to ask permission from Amazon.
🏠 On the examples below, you can see the difference. If we would add the packaging with the benefits, that would be it. ✅
50 Sales a month
Over 500 sales per month
💼 The Way to Launch a Product or Brand Using a Newsletter with Minimal Financial Investments
Launching a product or brand with minimal financial investment is entirely feasible when you harness the power of a well-crafted newsletter. 🚀
You will invest in your time and creativity. This approach requires building a strong, engaged email list, which means you have to feed your audience with something they are excited about and want to stay in touch with.
Your content should be actionable, evoke emotions, or help achieve something. It doesn’t have to be about your product but should address the problems your audience faces and the solutions they seek.
For example, if you plan to sell dog toys and your customer avatar is a dog owner, your newsletter could focus on dog-related issues, training tips, food recipes, stories about dogs, and cute pictures. 🐕
You could even create a “Dog of the Week” section 🏆 and publish a story about a different dog each week. To source these stories, simply join dog lover social media groups and ask owners to feature their pets. Your goal is to establish rapport and build authority with your audience. The content should also relate to the product you are selling or planning to launch.
When the time to launch comes, your audience will be eager to purchase without needing to be sold on WHY they should buy from you.
If you want to learn more about the quality of content to include in the newsletter about your brand, please reply to this email with the name of the product you are selling or planning to sell.
I will create a content strategy that will give you perspective on your brand.
If you want to share this newsletter with friends and entrepreneurs? We’ve got rewards for you: free services, Starbucks Gift Cards, and cash prizes!
📦 Save Money on Storage
Thousands of content pieces all over communities we receive daily are about saving money on storage, utilizing 3PL, selling smaller units, etc. However, have you ever thought about storing your inventory in China and shipping to the US only when needed?
Explore this option, and you will be surprised at how much profit you may get back, especially when you save money on the production of a larger quantity, not running out of stock, and seeing your business scale.
Oh, if your issue is inventory capital, there are plenty of providers out there that will help you keep up with cash flow. You just have to have at least 3 months of selling your product. No personal guarantees, btw.
Answer to Trivia:
With a very well-strategized campaign, you might keep 15-25% in your pocket after you deliver the product to the backers and pay all the fees.