Kickstarter and IndiegogoScribit leveraged the power of crowdfunding platforms like Kickstarter and Indiegogo to raise over $2.3M and build a strong and engaged community of over 6,000 backers. The initial success on Kickstarter, where they raised $1.6M against a goal of $50,000, showcased the potential of their product and generated buzz around Scribit. Indiegogo's InDemand platform further helped to raise an additional $700,000 and attract over 1,800 backers. By utilizing crowdfunding, Scribit was able to validate their idea, secure funding, and create a loyal customer base even before the official launch.Why it worked: Crowdfunding platforms provided Scribit with a platform to showcase their innovative product, generate excitement, and secure funding from a passionate community of backers. The success on Kickstarter and Indiegogo not only helped to raise funds but also created a strong network of supporters who were eager to see Scribit come to life.E-commerce and Social MediaAfter the initial crowdfunding campaigns, Scribit focused on building their online presence through e-commerce and social media. They observed that 30% of their current traffic came from existing partners, 30% from PR campaigns (mostly unpaid media exposure initiated by partners), and 30% from Facebook agency partners. By investing in high-quality media assets, like videos and pictures, and engaging with their community through social media, Scribit was able to generate traffic to their website and maintain customer interest.Why it worked: E-commerce allowed Scribit to transition from crowdfunding to direct sales, offering pre-orders of Scribit exclusively on their website. By engaging with existing partners, leveraging PR campaigns, and working with Facebook agency partners, Scribit successfully built and maintained traffic to their website. Social media played a crucial role in creating brand awareness, engaging with customers, and generating interest in Scribit's unique product.App Gallery and Revenue StreamsScribit developed an App gallery that functions as a marketplace for digital content, allowing users to access a wide range of images, artworks, and mini Apps to personalize their Scribit experience. Collaborating artists can showcase their works through the App, providing exposure and potential revenue opportunities. This additional revenue stream complements Scribit's core product and enhances the overall user experience.Why it worked: The App gallery not only enriches Scribit's product offering but also provides a platform for artists and creators to showcase their work and engage with the Scribit community. By creating a diverse marketplace for digital content, Scribit opens up new revenue opportunities and further enhances the value proposition for users.Future Expansion and Retail DistributionScribit's future plans include expanding their presence in the EU and the USA markets initially, with a focus on steadily growing and expanding globally. They aim to explore partnerships with drop-shops, including Amazon, and increase retail distribution by early 2020. By strategically planning for international expansion and retail distribution, Scribit anticipates reaching a wider audience and establishing a recognized presence in new markets.Why it worked: By strategically mapping out their future expansion plans, Scribit is laying the groundwork for global growth and market penetration. Partnerships with established e-commerce platforms like Amazon, along with retail distribution channels, will enable Scribit to reach new customers and establish a stronger foothold in the market.
