If you’ve decided to start a crowdfunding campaign, it’s probably for an idea that you’ve been thinking about for a while. You’re ready to take charge and turn your dream into a reality.
Crowdfunding is an excellent option for anyone to fund what matters to them, whether it’s a band’s latest album, short film, hot new gadget, college tuition, medical expenses… the list goes on and on. We want every campaigner to be set up for success, so we took a look at the numbers and statistics behind 100,000 Indiegogo campaigns* to see what’s working and what’s not. Here are 7 key stats about crowdfunding that every campaigner should know.
1. 30 day campaigns work best
Setting a reasonable and realistic amount of time for your campaign to run is crucial for your success. You want to make sure you give yourself and your community ample time to rally behind the cause to reach your goal. Of all the campaigns we looked at that met their goals, nearly a third of them (30.5%) ran a campaign between 30 to 39 days long. Consider how long you can commit to being engaged with your campaign as well as your community. You’ll want to be able to build interest, maintain momentum and keep your audience engaged. If you find that 30 days is not enough, you can extend your campaign to 60 days. Keep in mind that this option is more like running two 30 day campaigns rather than one 60 day campaign. This sort of timeframe might work best for you in terms of marketing and resources.