Welcome back to the Insider Success series by Funding Insider, where we go over the latest hit crowdfunding campaigns and identify what these creators did right on their path to success.

Today, we’ll be looking at XLASERLAB X1: a mid-priced welder for hobbyists that managed to raise over $5 million in their Kickstarter campaign earlier this year. 

We identified 3 strategies that propelled this campaign into the multi-million dollar mark.

1. A Versatile Welder for a Variety of Use Cases

At its core, the XLASERLAB X1 is a welding machine. But it doesn’t stop there. XLASERLAB X1 also performs laser cleaning to remove rust, can cut through metal, and even functions underwater—something that instantly set it apart from other welders that typically only do one of those things. 

This Swiss-army-knife approach appeals to makers, hobbyists, and small workshop owners who want a do-it-all device without investing in multiple machines. By bundling multiple functionalities into one unit, the X1 positioned itself as more than just a welder—it became a highly versatile device.

Branching out your product’s design to fit a variety of use cases is one way you can attract more backers and reach your funding goals.

2. Affordable for Hobbyists

With Super Early Bird pricing starting at $1,700, the XLASERLAB X1 is well-priced for metal worker hobbyists. While some entry-level devices can cost several thousand dollars, this product was a good amount cheaper than most of its competitors. 

However, a recent campaign for a competitor welder was priced at just $700, making it a considerably cheaper option. But it still didn’t do as well as XLASERLAB X1. 

XLASERLAB X1’s strategic, mid-range pricing not only attracted seasoned professionals looking for a cost-effective secondary tool, but the pricing also opened the door for newcomers curious about laser tech with some cash to spare. When deciding how to price your rewards, consider perhaps going a bit higher than the lowest possible margins. Remember, cheaper isn’t always better on Kickstarter! 

3. Thin Sheet Metal Specialization

XLASERLAB X1 has a unique use case of working with thin sheet metal specifically. 

While many industrial welders target heavy-duty applications, this device was designed with beginners, hobbyists, and DIYers in mind. That made it especially attractive for the growing community of metal artists, home fabricators, and small-scale repair enthusiasts who work with thin sheet metal primarily. 

That’s part of the genius of XLASERLAB X1: it took welding—an inherently industrial art—and made it into something to use at home. That’s certainly one reason why this project managed to raise so much money, and any Kickstarter project that works along similar lines is bound to see similar success.

Well, that’s it for our analysis of XLASERLAB X1’s Kickstarter campaign. We believe that the variety of use cases, strategic price point, and material specialization are what brought this campaign to its multi-million dollar success.

Stay tuned for more insights into the world of crowdfunding—only at the Funding Insider blog!