The digital economy is all about leveraging data, connectivity and access to fuel continued innovation. That is exactly what Rabbit Product Design is aiming to do with the launch of its in-house crowdfunding services, providing end-to-end product design process for entrepreneurs looking to take new products to market.
Rabbit Product Design's new crowdfunding services enable clients to raise money to manufacture and launch their new product while keeping 100 percent equity in their business. The five-step process involves comprehensive email campaigns, email quota calculation, list building, custom landing page, well setup crowdfunding page, social media, PR, influencer outreach as well as a real-time dashboard to track campaign progress.
Adam Tavin, co-founder and managing partner at Rabbit Product Design, provided some added insight into the company’s new offering.
IW: What prompted you Rabbit to embrace the crowdfunding approach?
Tavin: We have been helping clients get to the prototype stage and set up a factory to build their product, then watching many hire various crowdfunding agencies mostly performing poorly with failed campaigns. This is not good for Rabbit or our clients. We felt we needed to do something about it and decided to develop the most comprehensive crowdfunding services that will result in the greatest chance of success.
Crowdfunding enables an inventor to collect money from a large number of people in exchange for the actual product or perks, but without giving up any business equity. The easiest way to explain crowdfunding is taking pre-orders like in an infomercial, then use that money to pay the factory to build the product, ship it to you, then you ship to your customers. This will limit your capital required to launch your new product reducing both financial and business risk.
IW: Who are you hoping to help with your crowdfunding program?
Tavin: Any entrepreneur, inventor, or startup with a new product idea looking for help developing and launching a new product idea.
IW: What is your ultimate goal, and how would you like to see this program continue to evolve?
Tavin: Our ultimate goal is to help our clients launch a successful crowdfunding campaign. Then coach them on how to build and run a successful eCommerce business focusing on profit maximization that virtually runs itself using AI and automation.
Over the next 2 - 3 years we would like to transform Rabbit from an end-to-end product design firm to a product launching company or machine taking in new product ideas on one end and introducing successful products or launching businesses on the other end.
