Inside the Pre-Tail Revolution

Crowdfunding can be a great way to gather market intel. Here’s what you can learn from products that succeeded (and those that failed)

 
Written by Murad Hemmadi

Launching a product and then waiting for customers to buy it is so last century. These days, aspiring entrepreneurs and visionary tinkerers secure demand for their ideas before manufacturing a single part, using platforms like Kickstarter and Indiegogo.

Read: The 3 Hidden Dangers of Crowdfunding

The Pebble watch craze of 2012 was one of the first “pre-tailing” successes to enter the public consciousness, amassing a whopping 10,266% of its funding goal for a total of more than $10 million in just 37 days. But building up a huge, expectant customer base before you’ve mass-tested your manufacturing process has its drawbacks—a glitch with the glue and other problems delayed Pebble shipments by several months.

Here are some projects that successfully pre-tailed—and a couple that failed.

This article is from the October issue of Canadian Business. Subscribe now!

Read: Secrets of Successful Crowdfunding Campaigns

Originally appeared on PROFITguide.com

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