{"id":269,"date":"2025-03-20T15:14:35","date_gmt":"2025-03-20T15:14:35","guid":{"rendered":"https:\/\/dailycrowd.io\/?p=269"},"modified":"2025-03-20T15:14:35","modified_gmt":"2025-03-20T15:14:35","slug":"failure-the-reasons-behind-unfunded-kick-ass-kickstarter-projects","status":"publish","type":"post","link":"https:\/\/dailycrowd.io\/?p=269","title":{"rendered":"Failure: The Reasons Behind Unfunded Kick-Ass Kickstarter Projects"},"content":{"rendered":"<div class='booster-block booster-read-block'>\n                <div class=\"twp-read-time\">\n                \t<i class=\"booster-icon twp-clock\"><\/i> <span>Read Time:<\/span>1 Minute, 52 Second                <\/div>\n\n            <\/div><p>So, Etcher is an exceptional product, and its creator is a seasoned veteran in the crowdfunding space. However, it didn&#8217;t manage to exceed its funding target, leaving its designer, Krupnik, feeling quite let down. \u201cI think I\u2019m progressing through the K\u00fcbler-Ross stages,\u201d he shared. \u201cInitially, I experienced denial, then anger, followed by bargaining\u2014\u2018If I could just get on this blog,\u2019 then resignation\u2014\u2018it&#8217;s just not happening\u2019\u2014and ultimately acceptance.\u201d<\/p>\n<p>To delve into the elements that influence success or failure on crowdfunding platforms, I expanded upon the well-known \u201c4 P\u2019s\u201d of marketing to formulate the <strong>7 P\u2019s of Crowdfunding Marketing<\/strong>.<\/p>\n<p><strong>Etcher has:<\/strong><\/p>\n<p><strong>Product:<\/strong> Exceptional; Krupnik secured an official license from Ohio Art, the creators of the Etch A Sketch. It closely mirrors the original and users are passionate about it.<\/p>\n<hr \/>\n<p><strong>Price:<\/strong> An Etch A Sketch retails for $15, whereas Etcher is priced at $60. While it isn&#8217;t inexpensive, other less practical drawing tools for tablets have surged past $100, showcasing various pricing strategies.<\/p>\n<p><strong>Promotion:<\/strong> Etcher received significant media attention, appearing on television and being covered by major outlets such as CNET and TechCrunch. Most crowdfunding initiatives must work hard to gain such visibility.<\/p>\n<p><strong>Proven Track Record:<\/strong> Few developers have demonstrated a stronger capability for producing iOS accessories. Krupnik is a trusted name and stands out in his field.<\/p>\n<p><strong>Etcher lacks:<\/strong><\/p>\n<p><strong>Place:<\/strong> Crowdfunding typically complicates impulse purchases. If Etcher were physically available in stores, it might have found its way into more shopping carts. The wait time for delivery can deter customers.<\/p>\n<p><strong>Purpose:<\/strong> Successful gadgets on crowdfunding platforms usually have a utility beyond entertainment. Examples include the TikTok watch, Elevation Dock, or the ScanBox, which serve specific needs.<\/p>\n<p><strong>People:<\/strong> Etcher&#8217;s primary challenge is market size. A single endorsement from influencers can rally thousands to support a tech product, but the niche interest in a digital Etch A Sketch appears to be limited.<\/p>\n<p><strong>Conclusion:<\/strong> The beauty of crowdfunding lies in its ability to validate a concept before it reaches the retail market. While Krupnik and his supporters may feel downcast by Etcher&#8217;s outcome, consider the alternative of investing substantial resources only to see a product flop.<\/p>\n<p>The verdict is in from the crowd. In this era of startups, the collective voice prevails.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>So, Etcher is an exceptional product, and its creator is a seasoned veteran in the crowdfunding space. However, it didn&#8217;t manage to exceed its funding target, leaving its designer, Krupnik, feeling quite let down. \u201cI think I\u2019m progressing through the K\u00fcbler-Ross stages,\u201d he shared. \u201cInitially, I experienced denial, then anger, followed by bargaining\u2014\u2018If I could [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":270,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news"],"_links":{"self":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/posts\/269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=269"}],"version-history":[{"count":0,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/posts\/269\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/media\/270"}],"wp:attachment":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}