Crowdfunding

Both campaigns had clear, focused goals. Enerchi Bites wanted to introduce a healthy, all-natural, nut-free, gluten-free snack to health-conscious consumers. Their objective was to fund the next phase of production to meet rising demand. Think Board was centered around offering a creative toolreusable whiteboards that could stick to any surface. To do this, they targeted students, creatives, and professionals looking for new and innovative ways to brainstorm.

Enerchi Bites focused on a niche marketsnacks for those with specific dietary needswhile Think Board appealed to a broader audience in need of functional, everyday tools for creativity. Enerchi Bites was more about expanding product availability. Think Board wanted to focus on way to bring about creativity and productivity. Both campaigns were effective in aligning their goals with their target segments and successfully achieved their funding targets by communicating clear and practical value propositions.

The Coolest Cooler Kickstarter campaign raised substantial funds by offering a cooler packed with exciting and new features, such as a blender, Bluetooth speakers, and USB charger. Despite raising over $13 million, the company faced several challenges post-campaign. Manufacturing delays, product defects, and mismanagement of funds led to customer dissatisfaction. The complex product design and over-promising on delivery timelines were some of the main contributors to the downfall of the Coolest Cooler, which just goes to show the importance of having more than a novel and neat, new idea. A company also needs to have logistical feasibility before scaling production through crowdfunding. The campaign also serves as a cautionary tale about being logistically realistic. Over-promising and under-delivering damaged the brand, which contributed to its downfall.

References

Zacharakis, A., Corbett, A. C., & Bygrave, W. D. (2020). Entrepreneurship (5th ed.). John

Wiley & Sons.

Enerchi. (n.d.). https://www.kickstarter.com/projects/418282318/watch-enerchi-bites-grow-all-naturalnut-freegluten?ref=nav_search&result=project&term=enerchi

Think Board. (n.d.).https://www.kickstarter.com/projects/960330975/think-board-a-creative-space-for-endless-ideas?ref=discovery&term=think%20board

Coolest Cooler. (n.d.). https://www.kickstarter.com/projects/ryangrepper/coolest-cooler-21st-century-cooler-thats-actually