CrowdReady’s take on some of the best Crowfunding campaigns (with an unapologetically regional Australasian focus)
SwatchMate Cube - Cyantifically Proven
Part II: Cyantifically proven
Welcome back to Part II in our series profiling some of the most interesting crowdfunding (CF) campaigns we’ve come across to date. Last time we brought you the unbridled runaway success of the hinterland honey hippies behind the biggest revolution in the honey game since some old geyser left a crock of the sticky stuff out in the sun too long and had a rip roaring time on the fruits of the ferment. This week we have a horse of a different colour from three erstwhile electronic engineering students from Melbourne Uni with an idea so good they got real good grades. And backing from the prestigious Melbourne Accelerator program. Enter the Cube…
Campaign name: SwatchMate Color Capturing Cube (AUS)
(name change to to Palette www.palette.com)
Platform: Kickstarter (US)
Campaign type: Rewards
Capital raised: USD$100k (182% funded)
What is it?
Thankfully not some strangely unaerodynamic intergalactic spaceship carrying high-grade sociopathic androgynous humanoids intent on taking over Dandenong.
Although sounding like a curiously co-branded product from a joint venture with a Swiss watch company, the Cube is an award-winning pocket-sized colour-matching dynamo.
Clearly marketed towards creatives with the very schmick design and layout of the campaign, the Cube is a real-life Microsoft Paint eyedropper you can actually hold up to stuff.
Quite simply, find a colour you like, snug the ol’ Cube over the top, press a button and the Cube will sample the colour, match it with a mind-bendingly large reference library and output the colour match to your smart phone or even straight in to Photoshop. Sweet!
Saves you having to jackhammer a piece of wall off a Melbourne alleyway and lug it in to the 16 year old behind the Bunnings paint desk. We only wished we come across it several weeks ago before spending several hundred man hours trying to get all our logos and banners to look the same.
What did donors get for their money?
Anything from a shout out on the SwatchMate website to an…..ahem…..‘Ninja’ Cube (don’t mention Ninja!!!) which is like a regular Cube but in suave black and not at all some sham device that has never existed. For a full list of the rewards offered see the Kickstarter campaign page here.
Why was it successful?
No single feature of the SwatchMate Cube campaign stands out as being responsible for its success.
In fact, responsible is probably the standout feature of the whole enterprise. One look at the background, credentials, and photos of the creators and one can’t help but be flooded with cockle-warming instant reassurance that the project will not only get off the ground, but that your faith and support will be handsomely rewarded with a beautiful, perfectly functioning piece of art.
And who wouldn’t want to jump up off their bar stool and prance around the local streets taking colour samples of every neighbourhood moggie after watching the campaign video?
The whole layout of the campaign is very user friendly with eyecatching design, useful explanations and, based on a present RRP of $179.95, amazing value rewards to sweeten the deal. As we talk about in subsequent articles and other info-pieces on our website, many of the standout features of a good startup are already evident in this project from the team, through market testing, prototypes, traction and a swag of awards to prove it, the SwatchMate founders are on to a good thing and know how to present as such. Now to get our hands on one and do up those brochures we’ve been putting off……
The steady success of the SwatchMate team proves that it doesn’t have to be all guns blazing bajillion % overfunding all singing all dancing hands in the air with crowdfunding. They asked for a modest amount to do what they needed to do, received ~180% of this, tinkered some more and added a few features and turned out a beautifully sculpted and functional piece. It all goes to illustrate that a little tempering of enthusiasm, the setting of realistic goals and delivering on your promises can build the potential for sustainable long-term business propositions.
Well that’s all for the second second installment in our series unpicking the workings of CF winners. Thanks again for reading and email us if you’re feeling bullish about tapping into the power of the crowd to turn your dreams into reality. See you next time when we bring you more of the incisive insight that has CrowdReady leading the pack in independent comment and analysis on all things crowdfunding in Australia.