In fact, evolving the cooler has been a passion of Grepper's for a decade, he told CNBC. "Nine or 10 years ago, I was making a blender out of a weed wacker, putting an old car stereo into a cooler." His early experiments didn't work, but Grepper—who is a member of the CNBC Tech Crowd Council—did realize technology could transform a cooler into something even the cool kids might coo over.
Grepper didn't give up easily either. The Coolest Cooler failed the first time he rolled it out on Kickstarter in November 2013.
"We weren't successful," he said. "We thought tailgating folks would want it, and Christmas would work. But I hadn't done enough homework."
The failure—the first incarnation of the Coolest Cooler raised a little over $102,000 of a $125,000 goal, connected Grepper with enough people to give him the confidence to expand the project's design and Kickstarter campaign.
By the time the Coolest Cooler rolled out its second bid for crowdfunding fame, on July 8, Grepper had learned a few valuable lessons about finding success on Kickstarter.
"I learned that Kickstarter and crowdfunding is a visual medium and people want to see what they are getting and we weren't there the first time. I took the design to the stage you see it at now."
Timing is also key—when it comes to a cooler, summer rules over Santa and Sunday football tailgating. "The cooler market is hot in the summer," Grepper said. "That was one of those hindsight realizations."
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Equally important was not confusing the actual start date of a campaign with when a campaign should begin—well before the day it goes live on Kickstarter. "Using the folks from last time around and other fans, we made a bigger splash that had a ripple effect," Grepper said, adding, "The campaign starts when it goes up online, but the biggest variables are the work that goes into the campaign, connecting with your backers before you go live."
He said the connections that are key—from a review of other campaigns—run the gamut from reaching backers on social media platforms and blogs; early attention through traditional media; or simply emailing friend and families. The Coolest Cooler also did offline events, including tailgating.