Electronic Retailing Association Highlights OYO Fitness’ Kickstarter Success
Marketing experts Colleen Ferrier and Rick Petry wrote a great piece on OYO Fitness’ successful Kickstarter campaign for the DoubleFlex Black last week for the Electronic Retailing Association (ERA). In their article, they highlight some of the key components of the campaign that helped us achieve and exceed our goals, “What were the keys to success and what can other marketers learn from this case study that might help them achieve similar results? There were three main components: a great product, a great story, and great partners.”
We went through a fairly extensive research phase before beginning our Kickstarter campaign for the DoubleFlex Black. As a company new to crowdfunding, we wanted to make sure that our goals were achievable and scaleable. Kickstarter campaigns can easily fail if you don’t have a solid strategy. In doing our research we noted these areas where many campaigns fall short:
Quality Imagery & Video
Cost for Production and Delivery
Getting any of the above wrong can cost you a campaign. Worse, if you get everything else right but get your costs for production wrong, it can cost consumer confidence when you fail to hit production and delivery dates.
The OYO Fitness team made sure that we took the time needed to implement strategies that would help us meet and exceed our goals while maintaining profitability, reasonable cost to our backers, product quality, and deliverability. Ensuring that our Kickstarter campaign had a solid foundation and strategy from the outset was not only imperative in helping us achieve the distinctions of being in the top 1% of all products crowdfunded on Kickstarter, but in reaching that goal we have adequate resources for production and delivery as well as market validation.
Part of the OYO philosophy is that we want to make fitness accessible and achievable for everyone. To that end, we apply the same principles you would apply to your fitness routine to creating and marketing our products — research, discipline, support from strategic partners and team members, and hard work. We’re very much looking forward to getting the DoubleFlex Black into production this summer and into the hands of our amazing, supportive backers. Full speed ahead!
To read Ferrier and Petry’s full article about our Kickstarter success, click here.