Fulfillment for Crowdfunding Campaigns

Fulfillment for Crowdfunding Campaigns

The Hardware Massive Hong Kong chapter welcomed speaker Stephanie Huen the head of crowdfunding at Floship, where she strategizes with crowdfunding entrepreneurs and oversees project execution.

Floship is a Hong Kong logistics company with a focus on global e-commerce and crowdfunding, helping businesses reach and ship to new markets. In her presentation, Stephanie discusses the realities of crowdfunding fulfillment.

Key Takeaways

1) Explore all your options

One of the top priorities when planning a crowdfunding campaign is to explore all your fulfillment options. Talk to the crowdfunding community and experts who have worked with crowdfunders, so you know the different paths open to your product.

2) Explore ship-ready packaging

Ship-ready packaging is simply product packaging that also doubles as your shipping materials. Yes, it is possible to make ship-ready packaging both attractive and durable. This can help reduce shipping costs.

3) Don’t underestimate the task of getting info from backers

Backers will ask for updates often, and may be filling your inbox and comments section with feedback. However, don’t automatically expect them to get back to you with shipping info, data, addresses and other important information quickly. Allot the appropriate amount of time needed to compile this information.

4) Consider a backer data management tool

If you have a high volume of shipments, a backer data management tool can make the process easier, eliminating shipping issues and errors. However, make sure to budget for the usage of such a tool, when determining your product cost.

5) Avoid using timing as an incentive

Don’t promise your shipping to backers early, as it will cause a lot of stress after your crowdfunding campaign is over. Add in a buffer of time to account for any mishaps or delays. One- to two-month delays are not uncommon in the crowdfunding realm. Tell your backers a product will be available later rather than earlier. Funders will be delighted at receiving a product early, but will flood you with questions and concerns when you’re late.

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