Ethical Bedding have just launched their new Bamboo and Organic Cotton ranges on Kickstarter.
'But Sarah', I hear you say, 'Ethical Bedding are already an established loved brand, why use Kickstarter?'
Here's our thought process...
1. Market Validation
- Customer Feedback: Immediate feedback from potential customers helps refine and improve our bedding.
- Demand Confirmation: High levels of interest and pre-orders indicate strong market demand, reducing risk.
2. Funding
- Initial Capital: We are able to raise funds without giving up equity or incurring debt.
- Production Costs: We are covering production and development costs through pre-orders - before we go to into manufacturing.
3. Marketing and Exposure
- Brand Awareness: As a predominantly UK brand, Kickstarter enables us to gain exposure to a global audience and media coverage.
- Community Building: Build a community of early adopters and brand advocates. Big win.
4. Risk Mitigation
- Lower Financial Risk: Reduce financial risk by confirming market demand before large-scale production.
- Iterative Improvement: Use feedback to make iterative improvements before mass production.
5. Data Collection
- Customer Insights: Collect valuable data on customer preferences and behaviour.
- Market Trends: Understand market trends and adjust strategies accordingly.
6. Sales and Distribution
- Early Sales: Generate early sales and cash flow before product launch.
- Distribution Channels: Establish and test distribution channels. Especially in the US and EU!
7. Flexibility and Control
- Creative Freedom: Maintain creative control over the project.
- Flexible Funding Models: Choose between different funding models (e.g., all-or-nothing vs. flexible funding).
By leveraging Kickstarter, we can effectively test the market, secure funding, and build a strong foundation for our new textiles, all while minimising financial risk and gaining valuable insights.
In other news, get your Bamboo and Organic Cotton bedding right now! It's 40% off RRP for the next 48 hours!
https://lnkd.in/e4u6TBsk
#kickstarter #ethicalbedding #BCorp #sustainablebusiness
James Higgins