Crowdfunding Success Statistics & How You Should Raise Money Online
At GoGetFunding we’ve hosted thousands of great projects and have helped people from all over the world raise millions online.
And to help you raise the most money possible with your own campaign, we decided to do some good ol’ fashioned number crunching. We looked at 12,052 projects and millions of data points within these campaigns to see what really makes a difference when crowdfunding.
The results have been used to produce the infographic below. More on our methodology can be found at the end of this post.
Infographic by- GoGetFunding
Feel free to publish this on your blog or website but remember to link back here.
We looked at data points within 12,052 active campaigns. To be defined as active, the campaign had to have raised at least $50 or the equivalent in another currency and had a minimum of two donors. We only looked at campaigns that had activated a time constraint on their page.
Results for the following statistics required surveying of fundraisers (sample size 1068):
- Campaigns with day to day marketing plans raise 180% more.
- Campaigns with teams raise 38% more
Other statistics were gathered directly from data:
- The most successful campaigns in terms of % funded last between 20 to 40 days. This creates urgency while still providing fundraisers with enough time to spread the word
- Projects with an average word count of between 300 and 500 words raise the most money. Explain who, what and why.
- Campaigns that have a personal video raise 105% more than those that don’t. If a picture is worth a thousand words than a video is worth a million.
- Out of every campaign that reached its funding goal, 78% end up raising more than their target – people love being a part of something successful. Set a realistic goal and fill up that green fundraising bar!
- Visitors stay on your page 31% longer and are 22% more likely to donate once you’ve raised over 40%. Get your closest friends & family to contribute first before sharing elsewhere.
- Use all the sharing tools at your disposal. The highest converting are email: 53% Facebook 12% and Twitter 3%.
- Successful campaigns get an average of 193 likes and 57 tweets. Know your audience, engage and build real connections
- Campaigns with regular updates raise 126% more than those with no updates. Your backers are part of your team – take care of them.
Do any of these statistics surprise you? Leave your thoughts in the comments section below.