You’re reading edition #16 of the LaunchBoom Newsletter, which is sent every Tuesday to thousands of product creators.
This has been a new experience for me.
I’m taking a short break from working in my closet to write this newsletter.
Why work from my closet? You might ask…
Good question.
Well, I’ve been recording the audiobook for the new edition of Crowdfunded. I’m not going to lie, it hasn’t been the most enjoyable experience, but I’m almost done!
By the way, if you want a free version of the audiobook when it comes out, let me know.
Just reply to this email and I’ll send it to you when it’s done!
With that out of the way, let’s dive into today’s newsletter!
Contents
1. Short Story
This Airbnb superhost just launched her 6th property & pre-sold $99,075 in bookings in one day.
Her name is Kristie Wolfe.
And from the Big Idaho Potato Hotel…
To the Hobbit Inn…
She creates the world’s most unique properties.
MoonPass Lookouts is her 6th property, but this time she did things a little differently.
Instead of building the entire property first and getting bookings second, she joined LaunchBoom.
And learned out to pre-sell bookings first and finish building second.
When she launched on Indiegogo, she pre-sold $99,075 in bookings in just the first day.
Here’s how she did it.
It started with a Reservation Funnel.
We built Kristie’s Reservation Funnel using our software, LaunchKit.
Here’s what the landing page looked like:
She collected $50 reservations.
If someone put down a $50 reservation deposit, they’d lock in a 50% discount on the launch.
She drove traffic to the Reservation Funnel with Facebook ads.
She ran only static image ads for this prelaunch as they performed well the entire time. Here were the two best performing ads:
Before she launched the campaign, here’s what the prelaunch ad metrics looked like:
- Ad spend: $62,511.14
- $50 reservations: 905
- Cost per reservation: $69.07
I want to point out that because she had 905 reservations at $50, we generated $45,250 in reservation revenue before we launched the campaign.
That means after you subtract the reservation revenue from the ad spend, she had really only spent $17,261.14 going into the launch.
This drastically reduced the risk.
And once she launched, she was able to blow past the goal of $20,000 in a matter of minutes.
Now, the campaign has raised $228,424 in pre-sale revenue and still has 31 days to go!
By the way, we interviewed Kristie on our podcast, Masters of Crowdfunding. You can check it out here:
2. Marketing Tip
Your product pitch doesn’t need to be complicated.
Here’s a 3-step formula we’ve used on 1,000’s of launches:
Answer these 3 questions:
- What is it?
- What does it do?
- How does it do it differently?
Combine it into a line less than 60 characters.
Examples:
- Century Jacket: All-natural jacket that lasts 100 years.
- Neck Hammock: Neck pain relief in 15 minutes
- BaKblade: Best DIY back & body shaver
Simple and it works.
3. Favorite Content
Picasso’s art teaches an important lesson in business.
Below is a famous Picasso painting titled, The Bull.
His goal was to paint a bull in its simplest form.
It starts fairly detailed.
But instead of simplifying.
He adds more and more detail.
It’s not until version 4 that simplicity begins to form.
And each additional painting removes more & more.
With the final version being one connected stroke.
Picasso started with more.
Making it easier to end with less.
So the final version was as simple as possible.
Finding simplicity in business is counterintuitive.
Because you must first explore complexity.
To then distill that into simplicity.
Learn to launch your product in 5 minutes per week.
Every Tuesday, I send a newsletter just like this one! You can expect to read about my biggest lessons and most-effective strategies to launch a successful crowdfunding campaign. Sign up using the form right below 👇
