Coolest Marketing Case Study: The Difference Between $5mil and $100k on Kickstarter

Andrew Scherer

MarketersCenter.com
Feb 12, 2009
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The coolest cooler is nearing $5 million on Kickstarter right now and still has a whopping 45 days to go. Here is the URL for it now: https://www.kickstarter.com/projects/ryangrepper/coolest-cooler-21st-century-cooler-thats-actually

We can actually see a previous iteration of it here that failed just 7 months ago: https://www.kickstarter.com/projects/ryangrepper/the-coolest-cooler-with-blender-music-and-so-much

Everyone talks about the difference in the design, but you can spot a lot of differences in the video itself and how its pitched along with the lander.
 


Like the concept design but his $299 price tag seems a bit high for major retail success.

A plain Jane high end Coleman cooler can run $150+ depending on the retailer. Given all the features that the Coolest comes with: battery, lights, blender, dishes and cutlery, USB speaker, charging port, etc. etc. $299 doesn't seem like that big a deal. I'm sure we'll see the price come down over time and also lower pricing from different retailers.
 
So what you're saying is that after people throw $5 Million at something, they're going to find $299 way too expensive?

:updown:

Pledging now gets the cooler at $185 -- the retail price tag will be $299. I just went camping last week and needed to pick up a new cooler. A Coleman Xtreme 62 quart w/ wheels was just $40. The other accessories I already had with me except for the blender (usb charger, wireless speaker, bottle opener, LED light, etc)

That is a $259 difference for convenience and it will be interesting if enough consumers are willing to pay. If it is successful, you know Coleman can do it for much lower costs.
 
Pfft and you call yourselves marketers!

Nobody cares if its a shitty cooler. The same people who buy new iphones every year are the same people who are buying this. They just want a new toy to show off. They can't wait to roll up to the beach with this new swiss army cooler and amaze all of their friends. They are imagining all the attention and compliments they will get while doing things like making margaritas on the beach with a cooler!

The video does a great job selling the benefits not just highlighting the features.
 
A plain Jane high end Coleman cooler can run $150+ depending on the retailer. Given all the features that the Coolest comes with: battery, lights, blender, dishes and cutlery, USB speaker, charging port, etc. etc. $299 doesn't seem like that big a deal. I'm sure we'll see the price come down over time and also lower pricing from different retailers.

This sounds like something the Dad from Gremlins would have invented in today's world.
Just take a bunch of things that already exist, and throw them all together.

interesting-facts-gremlins-7.jpg
 
Its a site ran by John Young called Cryptome.

Responsible for a lot of governmental information becoming public. Sorta like Wikileaks but better IMO. A lot of spies, industry and government insiders, etc. leak info to the website.

I agree its not very clear to someone who does not know about the website. Johns been doing this for 13+ years. For donating $100 you basically get a USB stick with 72,000+ leaked documents on it from over the years.
 
Like the concept design but his $299 price tag seems a bit high for major retail success.


Go in a sporting goods store and see how much novelty coolers are. Yeti coolers are super expensive, but have been around for years.
 
Its a site ran by John Young called Cryptome.

Responsible for a lot of governmental information becoming public. Sorta like Wikileaks but better IMO. A lot of spies, industry and government insiders, etc. leak info to the website.

I agree its not very clear to someone who does not know about the website. Johns been doing this for 13+ years. For donating $100 you basically get a USB stick with 72,000+ leaked documents on it from over the years.

Can I pay to not get that USB stick?

I mean, I love being watched very closely by guys who kill and torture with impunity and all, but this is just too much awesome.
 
Its a site ran by John Young called Cryptome.

Responsible for a lot of governmental information becoming public. Sorta like Wikileaks but better IMO. A lot of spies, industry and government insiders, etc. leak info to the website.

I agree its not very clear to someone who does not know about the website. Johns been doing this for 13+ years. For donating $100 you basically get a USB stick with 72,000+ leaked documents on it from over the years.

Send him $100 so he can mail you a USB stick full of classified GOV documents? No thanks, that donor list is a future hit-list. I'm surprised that anyone with any interest in leaks and whistleblowers would touch that with a 10-foot pole.

I'm sure he does good work and his heart's probably in the right place, but that's a horrible marketing strategy.

"Here's some horrible shit the Government does, why not make yourself a target? For only $100 I'll paint a bullseye on your back. You can pick from the FTC, NSA, CIA, FBI, IRS... Hell, if it's got 3 letters they can weaponize it and use it against you. Get on their radar today!

P.S. CHILL OUT. It's not like they can track your every move online. You'll be fine. Bradley Manning is still alive. I think."


Now regarding the Coolest Cooler, pretty interesting that it looks like he had Brendan Burchard on board for the first campaign. It looks like he hit 50% of goal in the first 2-days, and then it bottomed out. $35k came in at the "hangout with me and Brendan level".

This time he's got over 20k people in at the $185+ level, vs. less than 100 or so last time around. So people are actually buying to get the product, not to meet an author.

The main difference at a glance is a USB port. That's a big pain point for people. That lets people stay connected to their phone, email, GPS, streaming music, videos, games and the internet. That's a lot of value for a little USB port. I bet that's a huge reason why it gained traction this time.

Props to the guy. And yeah, the sales videos/prototypes are definitely much better this go around. It's a great product idea too.

I bet he was really bummed when he fell just short last time. He only went for $50k VS. $125k this time around. Well he's got almost 5 million reasons (and counting) to be happy it crashed and burned last time. It'd be interesting to know what kind of correlation there is with the goal amount vs. wild successes like this. I wonder if it would have still taken off if he hadn't dropped it to $50k.
 
Go in a sporting goods store and see how much novelty coolers are. Yeti coolers are super expensive, but have been around for years.

The high-end coolers are marine-grade, built with quality insulation and for durability (commercial use, hunting/fishing, etc) Totally different market.
 
I would buy one of these if it was in a major retailer tomorrow...not backing kickstarter though. Lol at no one buying these at $299. This cooler isn't for the camper, it's for a party.

Pretty neat to see his success on round 2.
 
Send him $100 so he can mail you a USB stick full of classified GOV documents? No thanks, that donor list is a future hit-list. I'm surprised that anyone with any interest in leaks and whistleblowers would touch that with a 10-foot pole.

Its not illegal to possess classified information, its only illegal to be the one caught LEAKING or STEALING it from the source :)
 
Its not illegal to possess classified information, its only illegal to be the one caught LEAKING or STEALING it from the source :)

It's also perfectly legal for the state to assassinate people without probable cause or due-process.

Maybe assassination is stretching it.

The IRS can be weaponized. It was used against Ron Paul supporters. I wouldn't be surprised if the FTC, NSA, FBI or even your ISP may decide to scrutinize your web usage a little closer.

It could be something as small as slower loading times for sites you frequent, or more intermittent downtime than usual when you really need that data connection.

Or whatever. The point is this...

Everything the state does is "legal". Anything an individual does can be deemed "illegal" at a moments notice.

I'm far from a fan of the state. I don't like the state. I probably consider the state more of an evil entity than 99% of the people on this planet - even those people ordering the USB's.

But I'm a big fan of living, being free and for the most part being left alone. If I'm going to pick an enemy and make myself known, it's not going to be to the entity who writes the laws and has the legal monopoly on the use of indiscriminate deadly force.

I know you're joking.

Jokes aside, it's still a bad business model. At least on Kickstarter. I'm no expert on TOR or Bitcoin but for people who know what they're doing that'd probably be a much safer way to accept donations.
 
A plain Jane high end Coleman cooler can run $150+ depending on the retailer.
I don't know who or what bought Coleman and how many times, but that is one brand name that's fallen from quality to absolute shit.

I only mention this because Kickstarter, which once only recently synonymous with the future of online financing, seems to only make news b/c of potato salad and cool coolers. Maybe not such a big thing.

The JOBS Act of 2012 was supposed to pave the way for Kickstarter and like similar alternative financing platforms, but has been muddled to shit by Washington.