It’s no secret that I am a big fan of Kickstarter having backed many, many, many projects but, as you can see from the above screen grab, not everyone is of the same opinion and I believe that stems from a fundamental misunderstand about just what exactly a crowd funding site is.
The reason for the ire shown by the commenters above is that the project delivery end date is slipping and so people are becoming unhappy. In this particular project’s case the delivery date has slipped by approximately one month – in Kickstarter terms that is nothing, as you will see below. These sorts of comments are becoming more and more typical as Kickstarter, Indiegogo and other sites of a similar ilk are becoming more popular.
I decided to take a look at the projects that I had backed to work out how close the project delivery came to the date that the project originally quoted. To date I have backed 35 projects across a variety of categories but, unsurprisingly, skewed towards those with a technology bent.
The raw data is below but here are some headlines:
TWO projects out of 35 delivered “on time”.
101 days that on average a project is late.
971 days that one particular project is late (that’s about 2.5 years but it will deliver).
ONE project that looks unlikely to deliver and could be fraudulent (422 days late).
It takes, on average, 2.71 times longer to deliver than a project estimates.
In other words people who start projects on Kickstarter hugely underestimate the time that it will take to deliver. Having spent part of my life as a project manager in IT I am not overly surprised by this. This late delivery wouldn’t be a great problem where it not for two things:
- lack of communication on the part of the project
- unrealistic expectations on the part of the backer
The Communications Issue
Backers get excited about a project and are hungry for information as much as they are for delivery of the product itself. In my experience project owners never update backers as often as they would like and increasingly I am seeing this being done as part of the project comments rather than an update. This means that not everyone gets to see the update compounding the issue.
I was also taught to give bad news early and some projects do this well others not at all. PIECE has communicated a delay and looks to be delivering soon which is ironic given the comments at the top of the page are from this project.
The Unrealistic Expectations Issue
Which leads nicely onto unrealistic expectations. If you walk into a shop you can pick up an item now, take it home and have it up and running the same day. Kickstarter isn’t like that. It’s a slow burn. You have to wait, perhaps, for the design to be finished, manufacturers selected, any issues from the initial production runs sorted and finally fulfillment. No project ever runs smoothly and this inevitably pushes out the end date. However, many, many backers see the delivery date as fixed in stone but it very rarely is as the data shows.
Crowdfunding is a Stockmarket
Backing a project on a crowdfunding site is akin to to investing on the stock market. In other words there is a risk involved and you might not get back what you have invested. Even with the changes to Kickstarter that risk is not properly communicated to backers and Indiegogo is even worse.
As the popularity of the crowdfunding sites increases and they get more publicity for big projects such as Pebble they attract more people who back without fully appreciating what they are getting into.
The sites themselves need to do more to educate potential backers and not simply hide behind the terms and conditions saying that they aren’t responsible. Perhaps as a backer you should have to “sign” a disclaimer before backing saying that you accept that the project will almost certainly be late and you might lose your money.
Something needs to be done and if done properly can benefit not just the backers but also the project owners and crowdfunding sites too.
|Project||Closed||Estimated||Actual||Days Over||Predicted F2D||Actual F2D||Out by||Outcome|
|iPen: the first active stylus for iPad!||27/12/2011||30/01/2012||16/03/2012||46.00||34||80||2.35||Sold|
|The tiltpod - world's smallest articulating iPhone stand||01/04/2012||30/04/2012||30/05/2012||30.00||29||59||2.03||Still use|
|Pebble: E-Paper Watch for iPhone and Android||19/05/2012||30/09/2012||30/03/2013||181.00||134||315||2.35||Upgraded|
|Une Bobine - For People Who Love iPhone... and Android||16/06/2012||30/07/2012||30/09/2012||62.00||44||106||2.41||Sold|
|Scanbox - Turn your iPhone into a portable scanner||08/07/2012||30/07/2012||30/10/2012||92.00||22||114||5.18||Use rarely|
|Smarter Stand for iPad||13/08/2012||30/10/2012||30/11/2012||31.00||78||109||1.40||Discarded|
|Blacktop Royalty's Debut Album||29/07/2012||30/11/2012||30/12/2012||30.00||124||154||1.24||Listen Occasionally|
|Try iOS: iPhone App Development Course||29/08/2012||30/11/2012||04/12/2012||4.00||93||97||1.04||Discarded|
|pIO - microSD Adapter for Raspberry Pi||06/09/2012||30/09/2012||07/11/2012||38.00||24||62||2.58||Still use|
|Charlie Kaufman's Anomalisa||09/09/2012||30/05/2013||971.00||263||1234||4.69||Not received|
|myLED - Bringing External Notifications to iPhone and iPad||28/12/2012||30/04/2013||06/07/2013||67.00||123||190||1.54||Discarded|
|1 Second Everyday App||27/12/2012||30/12/2012||10/01/2013||11.00||3||14||4.67||Discarded|
|Smarter Stand for iPhone and iPod touch||12/04/2013||30/05/2013||15/06/2013||16.00||48||64||1.33||Discarded|
|The Earbud Shield||04/05/2013||30/06/2013||15/07/2013||15.00||57||72||1.26||Still use|
|The Practical Meter: Know your power!||25/07/2013||30/09/2013||15/11/2013||46.00||67||113||1.69||Still use|
|Une Bobine for iPhone 5|C|S||09/11/2013||30/11/2013||16/01/2014||47.00||21||68||3.24||Use rarely|
|the COBURNS – iPad stands||06/12/2013||30/12/2013||30/12/2013||0.00||24||24||1.00||Still use|
|Swisskey™ A key / tool organizer that syncs to your phone||28/02/2014||30/05/2014||31/07/2014||62.00||91||153||1.68||Still use|
|SIDEKICK - Pebble Dock||09/02/2014||30/05/2014||30/05/2014||0.00||110||110||1.00||Discarded|
|#BuildBearHQ: Our shipping container DINER||16/05/2014||30/05/2014||30/11/2014||184.00||14||198||14.14||Not yet redemed|
|Not Knot: Cable organiser & headphones protector||26/05/2014||30/06/2014||30/06/2014||0.00||35||35||1.00||Gifts|
|iStick™: USB Flash Drive with Lightning for iPhone and iPad||17/06/2014||30/08/2014||03/12/2014||95.00||74||169||2.28||Still use|
|StormTag - A Bluetooth Weather Station. On Your Keyring.||25/07/2014||30/11/2014||422.00||128||550||4.30||Not received|
|BelayCords - Reversible USB Charging Cords iPhone & Android||02/11/2014||30/11/2014||06/04/2015||127.00||28||155||5.54||Still use|
|memobottle - A4, A5 & Letter Reusable Water Bottles||12/10/2014||30/12/2014||15/07/2015||197.00||79||276||3.49||Still use|
|The Roost Smart Battery - Smarten your Smoke Alarms||19/12/2014||30/05/2015||15/11/2015||169.00||162||331||2.04||Not received|
|Gmail for Mac: Finally, Gmail is a true desktop email client||09/12/2014||30/01/2015||15/06/2015||136.00||52||188||3.62||Discarded|
|Pebble Time - Awesome Smartwatch, No Compromises||28/03/2015||30/07/2015||17/09/2015||49.00||124||173||1.40||Still use|
|Lignite Collection for Pebble - Quality Watchfaces and Apps||28/04/2015||30/06/2015||15/08/2015||46.00||63||109||1.73||Still use|
|dio Naked Reversible USB cables for Lightning and Micro||22/05/2015||30/06/2015||25/08/2015||56.00||39||95||2.44||Still use|
|Halo Back: World's First Smart Screen Protector||12/06/2015||30/08/2015||21/10/2015||52.00||79||131||1.66||Still use|
|ZNAPS -The $9 Magnetic Adapter for your mobile devices||14/08/2015||30/11/2015||57.00||108||165||1.53||Not received|
|PIECE - Change The Way You Use Smart Phones||10/09/2015||30/10/2015||88.00||50||138||2.76||Not received|