The Mongol Experiment - Report

[Leon]

Now that all of the Mongol orders have been sent out and we begin to prep the range for a proper release, it's time to take a look at everything and see whether the whole experiment was a success or not.

First off, the initial response was excellent, more than we ever anticipated.  The pledges came in thick and fast and by the deadline we had £2189 pledged from 40 people!  Then it was time for Techno to get busy and work his magic with the putty.  The figures were previewed on the Forum, and the feedback was very positive.




As the moulding process came to an end, we got to the important bit, getting the order forms sent out and some pennies in!  Out of the initial 40 pledges, 24 resulted in an order (60%), and of the £2189 pledged, we received orders totalling £1337.50 (61%).  The actual orders received were £57.50 up on the amounts pledged by those people.  (1 person emailed us to explain that their circumstances had changed and they wouldn't be able to carry through with their pledge.)  With the 10% discount we offered off all of the orders, and the postage added on, the total amount collected came to £1279.74.

On the costs side, we had underestimated slightly, and with the extra codes that were added to the range, we ended up with a sculpting and moulding bill of £1800.

So, overall we were over £500 down at this point, and that's not taking into account the time for casting the figures, the costs of the resin Yurt production and the shipping charges to send the packages out.




Positives

- A great response from the Forum, and elsewhere, and we also had half a dozen new members signing up just to pledge.
- We got to produce a range based on solid interest from our customers, with promised orders as soon as the range was produced.

Negatives

- The pledged to actual orders ratio was quite low, making the whole process less viable.
- Purely as an experiment in this method, we lost quite a chunk of money overall.


In summary, the experiment was a very enjoyable experience.  Watching the pledges come in each day was exciting to watch, and the sculpts that Techno was sending through were excellent.  We were able to produce a range with a degree of security that we would never normally have, so that was a huge plus.  

Would we do it again?  Possibly, but we would need to reevaluate the method and make some changes to the process.  First off, we would need to go for a much higher initial pledge goal so that we were certain of covering all the costs involved.  Secondly, we would need to look at adding some type of upfront deposit to the pledges, so that there was some investment already made prior to the actual ordering stage.  We could go through the official Kickstarter route, but then you've got another layer of fees involved (approx 10-15%), so we'd have to have a think about that.


To finish up, we'd like to thank everyone who came along and had a look, whether you pledged, ordered or just posted.  It was an interesting experiment, and we'll have a think about Non-Kickstarter Mk II soon...

[nikharwood]

That's an interesting report - thanks for sharing the experiment, Leon.

I think that if you do repeat this, you should definitely look for (some of the?) money up-front to ensure you get the buy-in return on what will be your speculative investment. I like the idea of you continuing to do this kind of thing in-house (rather than having to pay for KS or IG) - and as long as you're plugged in to all the gamer marketing channels, this should be fine.

Something you might want to (more actively) do is encourage us, as forum members, to use our channels / platforms / blogs / sites / SM etc to actively promote these: I know that there are people that I exchange regular & frequent emails with (and who don't use any other SM) that I could be more actively pointing at those these; ditto re comments & emails I receive via my blog etc.

Overall though, a good start: and, of course, once you open the floodgates to the wider public on these, I'm pretty certain you'll recoup initial investment losses PDQ and start to make money on them.

I, for one, will certainly be rectifying my (house-sale-and-move-inspired) initial omission and getting into this release like the proverbial Big Dog. 

[Shedman]

I'm sorry to hear that you lost out on the Mongols project.

I don't think you need to run the next one through Kickstarter - just get the pledgers to pay the money upfront

For myself I am extremely happy with the range which went way beyond what I originally hoped for

A big thanks to you and Phil for making it happen

Alan

[Leon]

I'm sorry to hear that you lost out on the Mongols project.

Despite it being a loss on paper, we certainly wouldn't class it as a loss overall.  We were able to produce a comprehensive range with a good chunk of the costs already recouped before we've officially released them, and dabble in this new KS method of bringing things to market.

Thanks to you as well for the initial impetus to try it, and for the help with the structuring of the range.

[Genom]

Firstly, it was great to watch this from start to finish, seeing the sculpts as they came in, and the anticipation of waiting on order forms coming through to the final package arriving at my door.

For future projects of a similar nature, if it was something I was interested in I'd certainly be willing to pay up front if it's Pendraken that's handling it, because at the end of the day your reputation is outstanding and I'm confident you'd deliver. For those less trusting even 25% to 50% of the pledge would I think be enough to ensure the rest of the pledge comes in afterwards?

Overall though, fantastic and job well done.

[Duke Speedy of Leighton]

I thought it was good from my end, shame it lost money. 
I would be happy to pay up front, or a reasonable deposit, knowing the quality of product that was about to arrive. Normal KS you commit to an amount, once your in, your in.
Something to thunk about...

[Ithoriel]

Just pledged a small amount to the Evil Men KS on indigogo.

I too would be happy to put money up front for someone with Pendraken's track record, if the range were one I was interested in. Mongols not something I'm interested in ... not something I'm very interested in ... not something I was interestedin 'til I saw the d**n sculpts!!

[Womble67]

I echo everybody's else's sentiments regarding paying a deposit as long as it was something I was interested in. But on the whole I think its was an experience worth doing.which of course can be improved opon

take care

andy

[TinyTerrain]

I am going to say what Leon is far too polite to say.....to the 40% who made a comitment to the project and didnt follow up by placing an order, and worst still in some cases didnt have the courtesy to speak to Leon in person,  shame on you.

As usual Pendraken went out if their way on this project to give great customer service, which included expanding the range based on the promised orders that were pledged.I am not going to get holier than thou about this, but to everyobe who didnt pay their dues, Pendraken are out of pocket as a result of your lack of support.

I hope every one of you who didnt meet their commitments enjoy the free painting competition, and the prizes provided by Pendraken......

Leon, for future reference for any future projects just paypal me as soon as I make my comitment,  I for one stick by what I promise.

Sermon over....

cheers,

Craig

[GrumpyOldMan]

Hello

Good to see that the project has ended up as a positive experience if not a financially rewarding one (yet).

Nic Robson at Eureka has run his 100 Club and 300 Club for a while now it seems to be holding up. From his website:-

"We ask you to provide your credit card details to show that you are serious in your intent. Charges to your card will only apply after you confirm your order with us ie. when we reach the required number, and will be made after the figures have been produced and despatched to you. All credit card details are retained with your personal security in mind."

Cheers

GrumpyOldMan

[kev1964]

I really enjoyed seeing this project happen, it was not something that i was personally  interested in but a great idea. I would echo all the comments, I'm sure that it will be a financial success, just a shame all the pledges were not honored. I think if you do this again, seriously interested people would gladly put a deposit down.
Over all i think it was a success, some really excellent figs from Techno,( which i will be painting soon  ) and getting more people interested in 10mm.

kev

[FierceKitty]

IF the Aztecs ever happen this way, I'll gladly pay 100% in advance and a sponsor's fee withal.

[Steve J]

Interesting to see how it went, how the figures balanced out etc. I hope you are able to more of this sort of thing in the future. For me I would expect to pay a deposit up front to show my commitment and to help get things rolling. I would love it if you were able to take this route for a Polish '39 range .

[Matt J]

60% return is maybe disappointing but far from a disaster, the diversity in the range is superb. I for one would gladly pay up front in the future if it was something I was interested in.
(barded horses would be nice though  )

[fsn]

I agree though. If you've pledged you should buy. Hope those of you that didn't have got jolly red faces! I assume though that the Mongols will make an appearance in the Pendraken catalogue. Seems wasteful not to!

Perhaps next time, we (the nuts in the Pebdraken museli) could be polled on our preference? *ahem* Byzantines or chariot armies, anyone?