Crowdfunding Success Opens Doors and Creates Opportunities
And guess what? Crowdfunding success only happens with proper, prolonged and professional crowdfunding promotion. Here’s the proof.
Today I woke up at around 5 AM – just another Manic Monday. Client emails to Australia at 7 AM. Client call at 8 AM to Israel. Then the gym and the rest of the day.
This morning started like it always does; with a cup of coffee and the morning news. The job of crowdfunding public relations is 24×7 in that I need to stay plugged in to media and follow all of the news and identify anything trending that can help my clients. So as I sip my coffee what do I see? A spot on the Fox and Friends show on the Fox Network for…. Victory Coffees. I admittedly admired the PR power immediately. Scoring major media on the Fox Network is a heck of an achievement. During the spot I heard mention that the man behind Victory Coffees had JUST appeared on Shark Tank — and he didn’t get a deal.
My impression of their public relations prowess went up a couple of notches. Bouncing off a fresh Shark Tank appearance is brilliant. Why? Lots of major network TV coverage in a short period of time.
Having been a Shark Tank fan for years I record every episode. I made a note to watch the Shark Tank episode featuringand his coffee — and I did. You can see the Victory Coffees crowdfunding pitch in Episode 12 of Season 8 of Shark Tank. Oh and by the way — Shark Tank is a method of crowdfunding. You have a small crowd of people – the sharks – who consider the funding offers presented to them and then decide to back them – or not. Check out this clip:
Every shark turned down his offer of $250,000 for 20% equity with very valid reasons.
To start with, none of the sharks were excited by his sales; $30,000 in eight months.
The common consensus among the sharks; his product could not be sufficiently differentiated from other brands in the saturated coffee market. They cast a critical eye on how much market share he could carve out from the uber-competitive coffee market even when factoring in the power of patriotism.
Then I wondered if Victory Coffees ever attempted a crowdfunding campaign. A lot of people that appear in Shark Tank do. And yeah, they did.
I discovered the Victory Coffees Kickstarter and I was floored by what I found.
Victory’s Kickstarter Project launched in November 2015 and raised $75 of a $25,000 funding goal. One possible reason why he didn’t achieve crowdfunding success was the utter and total absence of any crowdfunding promotion that I could find. No press release. No media coverage. No social media conversations. Make a note of that. Google it. Check it out for yourself.
Mr. Courtley, true to his roots as a Navy SEAL, didn’t stop at his Kickstarter failure. Looking at what he had to offer on Shark Tank two weeks ago and had on display on Fox and Friends today, he clearly moved his company and his brand forward in the 14 months since he launched his crowdfunding campaign.
Still…. it’s not clear how much money this American hero will make. We wish him only success in making lots of money and providing jobs to lots of US Veterans who need, deserve and I feel earned a job in the civilian world after giving their service to our country.
Let’s end this case study on a “What if?” question — What would have happened to Victory Coffees if Cade Courtley crushed it with his Kickstarter back in November 2015?
What if he leveraged that hypothetical crowdfunding success to sell the sharks on a deal?
What if the sharks used his crowdfunding success as proof-of-concept to make him a deal?
What if he built on the momentum of that Kickstarter success AND Shark Tank deal and then went on The Fox Network?
LATER ON THAT SAME EPISODE OF SHARK TANK…
Naturally Perfect Dolls – the pitch that appeared right after Victory Coffees – made a Shark Tank deal. One of the cornerstones of the Shark Tank deal was the success of their Kickstarter.
Why did their Kickstarter succeed? Can you guess? Do you see it coming? Crowdfunding PR. Google “Naturally Perfect Dolls Kickstarter” and check out all the media coverage.
While crowdfunding success might be all anyone needs to launch a new product or start a company, it could also be just a stepping stone to even bigger and better things.
And — repeat me after me class — when does crowdfunding success happen? Where crowdfunding promotion starts. And who’s the #1 crowdfunding PR company in the world? If you got the right answer then sign up now and head to the front of the class. Your future is waiting….