Crowdfunding campaign as a viable tool of market research.

A week ago i got struck by the marketing genius of this company and these guys.

When we think about marketing research we usually get into surveys, analysis, market 1segmentation and all the other expensive and complicated techniques that are used to determine what the people want and what they expect.

All of those complicated techniques can be made on the kickstarter-the crowdfunding platform. It is now widely known and people like to use it. Therefore these guys, by just posting their ideas there know straight away how much people value their idea. This “how much” actually being a monetary equvivalent, something that traditional marketing research techniques rarely manage to do.

At the same time producers receive pre-orders. So without spending a penny (theoretically) they already know their demand, responsiveness of customers to changes in design, price (campaigns on KS are customizable after they reach initial goal).

Considering most “donators” are actually connected to KS through Facebook or Google+ it appears possible to track who are the companys’ customers. So the companies can actually go and see who bided instead of making a survey or an educated guess of who the customer really is.

So as I said- welcome to 21th century! Some things become horribly complicated, and some, like marketing research, may appear to be too easy.

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