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57 Secrets of Crowdfunding

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Evan Varsamis

CEO at Gadget Flow
#Growth-hacks #Product #Crowdfunding

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Evan is a NYC-based entrepreneur, founder and CEO of one of the most powerful product discovery platforms on the web, Gadget Flow Inc. 



His main goal: to simplify online product exploration. 



Since its inception in 2012, his platform gained wide acclaim, helping others discover awesome products, including some of the best crowdfunding campaigns. Evan is recognized as a Crowdfunding Expert by the community and Kickstarter itself, and is a proud member of YEC. 



He is also a contributor to many reputable magazines, including Forbes, Fortune, Mashable and many more.






AMA with Evan Varsamis

Questions

Mariam Grigoryan

30.03.2020

What tactics did you use at the early stages of Gadget Flow to reach your audience?

Evan Varsamis

Hey Mariam, we’ve used a lot of growth hacking strategies early on, from mutual partnerships with FB Fan pages, to syndication websites and everything in between, our goal was to identify our target audience and figure out the websites. platforms that they were spending time on so we get to reach that audience.

Lilit Khachatryan

01.04.2020

Hello Evan. Can you please tell, how the current situation is affecting your business and how do you deal with it. Thank you

Evan Varsamis

Hey Lilit, like every business we are in a defensive mode, we froze new hires and trying to keep operations streamlined, it’s a great time for all businesses to review their expenses and optimize workflows to be as efficient as possible. We haven’t noticed a huge decline from our end though.

Boris Kobalt

02.04.2020

Hi Evan, based on your experience with so many crowdfunding campaigns - how necessary or how imperative are promotional services like Gadget Flow and others? I personally love scrolling through Gadget Flow and look at different cool products. But from a campaigner's POV, are they essential channels to utilize? Or you could get away without it. Thanks

Evan Varsamis

In short, yes they are. When you launch a campaign your goal to get in front of as many people as possible, we are one of the oldest/biggest crowdfunding service providers because we’ve built a great community that’s eager to explore new and innovative products. It is important for all creators to consider services like GF as they work on top of agencies. As a rule of thumb, if you have a great conversion rate from other channels you’ll usually have a similar conversion rate from services like ours.

Freddie

03.04.2020

Because we are a start-up and do not have the funds for a marketing campaign are you will do crowdfunding at risk. Your marketing and other costs will be recovered from the proceeds of the crowdfunding?

Evan Varsamis

Hey Freddie, there is this misconception that you can launch a campaign with $0 advertising, that’s not true in 2020 or even for the past few years. If you want to raise 5-6-7 figures you need to spend around 30% of your goal in marketing.

Lylah G

06.04.2020

What type of products are trending more on Gadget Flow now considering the market situation and peoples needs? if you were to suggest a direction for a CF campaign, what would it be?

Evan Varsamis

We’ve observed an influx of new users jumping in on Gadget Flow the past few weeks but the top categories pretty much remain the same: Tech, Smart Gadgets, Mac Accessories, Crowdfunding campaigns, etc. For new campaigns, I haven’t seen a trend in which a backpack won’t be funded due to COVID-19, at least not yet, so regardless of your niche, crowdfunding still remains a good channel to fund your project.

Jen Wang

06.04.2020

What average ROI can Gadget flow have for campaigns? And do you think the platform has an effect on the results?

Evan Varsamis

Hey Jen, it does have an effect, historically our customers are able to convert and generate 3:1 and above ROI for their campaigns, due to KS/IGG tracking mobile pledges tend to show as direct therefore we have much better tracking solutions for eCommerce in which case we notice higher ROI and in many cases double-digit ROI.

Mike A.

06.04.2020

I’m intrigued to know, how did you arrive at the idea that people need a platform to discover innovative products around the world? Also, back to the very beginning when Gadget Flow still had a very small audience, how did you manage to get partners and showcase their products on your platform? Looking forward to your reply.

Evan Varsamis

Great question, we wanted to build something between a tech publication and a marketplace for people to discover great new products, as the main focus of the big marketplaces has always been sales our goal was to excite people, and it obviously worked! Building a community is hard, a few of the things that helped was a) listen to their feedback and build a platform around their needs/asks b) Show the benefits of such a platform c) developed features that our users loved. As for partnerships, we tried our best to make them mutual so there was always a benefit for our partners.

Oscar Smith

07.04.2020

Could you please share some actionable advice on how I should introduce my product to the market? What marketing channels did you use to promote Gadget Flow when you were just launching it? Thanks in advance!

Evan Varsamis

Hey Oscar, your goal should be to figure out your target audience and then figure out how to reach them online, which websites they check, which platforms they use, what are some of their interests. Once you know all of the above, compile a list with websites/platforms, social channels and reach out, buy ads, or pursue partnerships.

Omri Abate

07.04.2020

In your opinion what are the what are the 3 major shifts projected to happen in digital marketing in the near future due to this situation? What are your thoughts on this?

Evan Varsamis

Hey Omri, great question. A lot of things will change fast, right now the best opportunity for brands is paid social media channels, the cost is VERY low at the moment to get in front of a million people, that cost will only going up in the future so you need to leverage that opportunity now. In the future once more emerging markets join the social platforms and more paywalls emerge we’ll start to see different marketing channels popping out. Rule number one for any media brand at the moment is to build authority around their niche as more and more people would want to advertise on smaller communities in the near future.

Steven Hall

08.04.2020

If I could prove to you I can increase your circulation to every cell in your body FDA 2012 would you like to know more Call me Steven Hall 425-770-9466 

Yoshito Nara

08.04.2020

how big is the GadgetFlow audience? And if can I feature my product more than once there?

Evan Varsamis

You can promote your product as many times as you want with different plans, we reach over 28M people per month through our apps, web platform, social channels, newsletters, etc.

Tom Moynihan

08.04.2020

Hi Evan. First off, absolutely love Gadget Flow :-D sometimes I just mindlessly scroll it for funsies to find cool stuff. Second, my questions is more about you as a businessman. Many entrepreneurs drone about the need of being resilient to rejection. But then how do you assess if your idea is something even worth pursuing at all if all you get from investors is a sharp no. What was your experience with Gadget Flow and in general?

Evan Varsamis

Thank you so much for your kind words! You’ll hear no 98 times and yes 2 times, it’s a fact, it’s nerve-breaking but it is what it is. If you build a product and validate the idea you have nothing to fear, just keep pushing until you get the right people on board.

Amelia Clark

09.04.2020

Hi Evan, what do you think how will coronavirus change the trends in crowdfunding and maybe how they've already changed?

Evan Varsamis

Hey Amelia, it has already created a HUGE opportunity for creators when it comes to getting lower CPCs, CPMs, and CPAs for the past few weeks, that trend will only last a couple more weeks and it’s due to the fact that fewer campaigns are launching and less brick and mortar stores are advertising on social media. In the coming weeks, we’ll notice a huge influx of new campaigns going live which would create a more competitive environment for creators.

Gayane Tunyan

10.04.2020

Hi, Evan. Thanks for the opportunity. My questions are as follows: What are the main principles of choosing a product for GadgetFlow? What are the main issues of crowdfunding campaigns from the point of Project Management nowadays?

Evan Varsamis

We have over 280 categories on GF and we’ve featured almost 20k products so far, our approval rate is above 80%, therefore, any high-quality product would be a good much for GF, remember that our users are looking for innovative new products under a lot of different niches/categories. As for your second question, the main issue is guidance, a lot of creators go live thinking that they’ll get funded within hours without doing anything, we encourage our customers working with either consultants or agencies so they can take them by their hand and walk them towards success by following the right steps.

Narek Vardanyan

12.04.2020

What categories of products are up or down on the Gadget Flow due to Coronavirus if any?

Evan Varsamis

Hey Narek, great question, we see a decrease in travel gadgets, summer accessories, and sports accessories, on the other hand, board games, home entertainment, smart gadgets, outdoor products, and office gadgets spiked.

Ani Ter-Margaryan

14.04.2020

Hi Evan! Our purchasing habits got clearly reshuffled in this new climate. Now we capitalize on products we may haven’t even thought before. But with the outbreak starting to gradually level off, how long do you think these changes in consumer trends will persist? My gut feeling is that they will stick around a lot longer. The psychological impact has been deep. And we’ve kind of got used to them, too. What’s your opinion on this?

Evan Varsamis

Hey Ani, I think that overall this period will leave a bad taste for a while and we won't experience overnight changes, instead, I see things improving slowly in the coming weeks/months with perhaps some higher than normal spikes between May/June when most countries will probably get out of the lockdown phase.

Evan Varsamis

15.04.2020

Hey everyone, thanks for all the questions, I hope you found my answer valuable. If you want to connect, add me on Linkedin - https://www.linkedin.com/in/evanvarsamis/

Сергей Пасичник

15.04.2020

Добрый день. На каких условиях вы оказываете услуги участникам краунфандинга? Я интересуюсь, так как сам сейчас готовлю проект для участия.

Lili Avetyan

Здравствуйте, Сергей. Можете с нами связаться в любое время, заполнив следующую форму - https://thecrowdfundingformula.com/submit-your-campaign, или же по электронной почте - [email protected]

Michael Drez

13.05.2020

Evan, What is your range of services for a new product and what are the cost ranges for them?

Odisseas Kilias

07.07.2020

Hi Evan, My brother and I launched a unique, sports based, dice board game on Kickstarter in October last year with moderate success :( We probably didn't do enough pre-campaign marketing to build up the the anticipation to the launch. Is it a good idea to do a new Indiegogo campaign, what can we do pre-Indiegogo and how exactly can we benefit from an alliance with Gadget Flow?

Lili Avetyan

Hi Odisseas, can you send me more information about your previous campaign and what you plan on doing on Indiegogo via email - [email protected] I'll be happy to take a look and give some advice

Raúl Rodríguez

05.08.2020

Hello Evans, Raúl greets you. I want to know the price of the personalized service for my campaign in Gofoundme

Sheila Freeman

28.08.2020

I need to do crownfunding for a project I created 3 years ago. But it is not a product. It is a series of designs that are unique coming from real fish. These designs are now placed onto products that are manufactured, sold and sent by Zazzle.com. These designs can be placed onto products made by other companies, but there is no money to do that now. If these designs are not products, how do I state this other than saying what they are? There is a purpose as a % of net profits are donated to environmental organizations.

Fred Goldfarb

01.09.2020

Evan - Not a question you would expect. I will be in touch soon about your service. I want to have the time to respond appropriately. But, seeing as how you may be from Yerevan, as many of your employees are, i wanted to ask you about a Yerevan guitarist who is exceptional. Perhaps you help her in some way. You may know her. She goes by the name Elena Yerevan. Wonderful. https://www.youtube.com/channel/UCA9SFWJGHDuy1F0EToygf7Q. Thanks. I will be in touch with your group soon to talk about my project. 4 years in development but now perfect timing.It's for bicyclists and that is booming now. BOOMING! Tailgator Technologies. More later. Give Elena a hand. Thanks. Fred