How Many Backers Can PR Drive?
One thing most of the biggest crowdfunding campaigns have in common is that they all garner lots of media attention. This is no coincidence.
Many founders are unaware that people back projects they read about in the news, on blogs, and in digital magazines. Although this is common sense to most people with experience, I have run into several people who were unaware of the connection.
For the record, Public Relations (PR) has long been known to the business community as a vital method for acquiring sales for a product launch. “Advertisement is what you pay for, Publicity is what you pray for” is the old adage.
With that being said, the ROI varies drastically based on the type of product, and the quality of the product. Getting featured by top tier media outlets can bring in $50,000-$100,000 in new sales overnight in the very best case scenario with a killer product.
However, there are killer products that just don’t have much press devoted to their subject field. For example, there is 100,000x more tech blogs than there is outdoor related blogs.
A huge factor is also how unique the product is. There are countless timepieces currently live on kickstarter. All of those timepiece projects are competing for coverage — and a product must really stand out in order to get press in the first place.
If you want to see a big campaign that got tons of press (which was the primary source of their backers) — just look at Fidget Cube which raised $6.4M on kickstarter. Do a little googling and you can see they got more coverage than is shown by their press badges, around 60 articles in total. This campaign is a great example to show you what is possible in the best case scenario: with a unique product, a buzzworthy product, and a product that fits into a subject field that has tons of media devoted to it.