Melomind Headphones are designed to respond to your brainwaves and modulate the sound you are hearing accordingly. The developers claim that by using this feedback loop between your brain, the electroencephalogram (EEG) headphones and the music, you learn how to relax how to relax efficiently and improve your daily life. When compared to other relaxation techniques, Melomind notes that its headphones are easy to use, are non-intrusive and don’t have any harmful side effects.
Melomind is currently running a crowdfunding campaign on Kickstarter and surpassed its goal of $56,211 after the first day. At this point it has raised nearly $150,000 from 679 backers and it still has 31 days left to go before concluding the campaign. One of the first things Melomind did after beating its initial goal was to establish stretch goals. The stretch goals range from $60,000 to create a protective case for the headphones all the way up to $1,000,000 to create an online coaching platform.
Setting stretch goals for your crowdfunding campaign are beneficial for a number of reasons. Firstly they may entice additional backers to join your campaign once your initial target has been met. Secondly they demonstrate that you have a vision for something beyond just the initial product. Lastly, stretch goals allow you to break a project down into smaller increments so you aren’t forced to ask for incremental funding just to get the project off the ground.
Like Melomind, one of the tactics you can employ is to create your stretch goals after you have launched your project and started to get some feedback from your initial backers. Read through the comments and see if there are any additional features that backers want. Also, you can solicit your existing backers through a survey and ask them directly what else they might want to see in your product. It is recommended that you only start asking these sorts of questions if it looks like you will beat your initial funding goal handily. In other words, don’t start setting stretch goals if it doesn’t look like you are going to be fully funded.