Entourage alumni, Vinson Leow, founder of ASAP Technologies, has had an amazing 2016 so far.
His business launched the first crowdfunding campaign for their product, the ASAP Dash, at the beginning of the year. ASAP Dash positioned itself as the world’s fastest battery pack. Storing enough power to charge an iPhone 5 to 100% in just 5 mins.
When the campaign closed on March 28th, they had raised $190,670 USD, which was 586% over their original target.
Now, ASAP Technologies have their next great product. They have once again taken to crowdfunding, and again, their results have been incredible!
This next product is ASAP Connect. It’s a USB cable that allows you to connect your phone or USB devices to your device quickly and seamlessly. It also has patent-pending magnetic technology, 18K gold plated connectors, aluminium shield and nylon braided cables.
If you aren’t already intrigued, well, you are rare, because over 3,693 other backers were.
Vinson and his team came into this campaign with an initial goal of $30,000. Currently, they have reached over $171,742 USD, making them 573% over their target, with a month still left to go.
ASAP Technologies are proving themselves to be a technology company to watch.
We sat down with Vinson to discuss how he has been getting results that majority of crowdfunding campaigns can only hope to see.
How did you approach this crowdfunding campaign differently to your first one?
This time, I knew what the factors towards a successful campaign ar and therefore was able to systematically prepare how to drive traffic towards the second campaign.
What is the ethos behind your product development?
Every product must help improve our everyday lives, often in the simplest of ways.
What kind of research do you do to verify demand for potential new products?
Often, we are innovating something that already exists by either integrating new features from another product, or making the existing product better than what’s in the current market, so we already have proof of concept.
You never truly know until you give it a go which is why we use crowdfunding.
How do you find gaps in the market to launch new products into?
Our focus is on consumer electronics with a current focus on smartphone accessories. There is constant innovation to meet gaps here so new and improved features will continue to be well received.
What tips would you give someone looking to partner with an overseas manufacturer?
Don’t use a sourcing agent, go to China directly, hire a translator and visit at least a dozen factories.
We’ve seen that you’ve been very successful in getting publications to feature your new products, how do you approach them and what do you do to get them on board?
We employ the services of several growth hackers who are able to get our product in front of editors. We occasionally also use a PR agency, though that’s had a poor return on investment for us.
What is the recipe you use to create a sales video that converts?
We analyse previous high revenue videos aimed at a similar target market and find the best parts. Being technology, we focus mostly on the problem and solutions our products will provide our consumers.
Now that you’ve run a number of successful crowdfunding campaigns, what have you learned that you wished you had implemented sooner?
Facebook advertising makes up 60%+ of a successful campaign’s strategy. Working with a digital media agency who has experience with over 40 crowdfunding campaigns is crucial to getting the most out of each campaign.
Any advice for entrepreneurs looking to launch a new consumer product into the market?
Don’t make the same mistakes many crowdfund campaigners make. Focus on driving traffic to the page rather than perfecting the video or page.
Read about Vinson’s first crowdfunding campaign here.
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