Music. Marketing. Social Media.

It all started with this tweet:

Naturally, I went to investigate. Here’s what I found.

As I dug a bit deeper I discovered that JuaKali was using Kickstarter, “a funding platform for artists, designers, filmmakers, musicians, journalists, inventors, explorers…”

It’s a pretty simple service.

Someone (an artist, designer, etc) creates a project and names the price. From there, they use their network (and Kickstarter’s own “Discover  Projects” area) to solicit pledges. Creators can specify pledge levels and associated rewards; a great incentive tool to get those larger pledges.

If the project reaches the funding level before the deadline the pledges are collected and the project goes ahead as planned. If not, no money is ever taken from the people who pledged for the project and the project disappears.

This has a lot of potential.

1. It’s easily shared. Email the link, put it on your website or your blog, tweet it, include it on your Facebook fan page, or put it on MySpace.
2. It’s low-risk. If the project gathers the necessary amount of pledges before the deadline, the project gets funded. If not, no money is ever taken and the project disappears. No risk for the people pledging, and no risk of the artist ending up with partial funding for a project that requires the full amount.
3. It’s low-fee. Kickstarter takes a 5% fee out for each successful project, but otherwise the service is free.
4. It’s social. Each project lists the supporters, as well as provides space for the artist to update (blog-like updates) and comment on the project. Everyone involved has an identity.

Have you used Kickstarter? I’m interested in your experiences and opinions, so leave a comment!

Tags: juakali, kickstarter

This entry was posted on Tuesday, September 29th, 2009 at 10:00 am and is filed under marketing, music, production. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.