CROWDFUNDING: NOTES FROM THEKICKSTARTERGUY.COM CONFERENCE
CROWDFUNDING: NOTES FROM THEKICKSTARTERGUY.COM CONFERENCE
Key notes:
Tell a story that is personal. The best way to sell something is to tell a story, if you can tell a story that can connect with your audience, the chances of success will increase dramatically.
There are certain timeframes that increase your chances of success: Best day to launch is on a Tuesday at 11am local time. It is best to launch in the middle of the month, always trying to avoid holidays. For film crowdfunding it is best to keep the campaign no longer than 30 to 40 days.
The amount you should ask as threshold is the least amount you need to be able to create the project. So the least amount is the best amount, anything over will contribute to creating a better project. Also, always have a stretch goal ready so when the target is hit you can rehash for more money.
If you are crowdfunding for a product, it is extremely important to do the research and figure out how much it costs to create the product, then add 20% for profit over the product.
There is a difference between platforms and some are better for some things than others. For projects under 30K, Indiegogo tends to be the best.
Crowdfunding conversion rates:
For filmmaking projects the current conversion rate is around 5%, this means that on about 5 people out of every 100 people who check out the campaign website will end up contributing. The average contribution is about $50.
Key notes:
Tell a story that is personal. The best way to sell something is to tell a story, if you can tell a story that can connect with your audience, the chances of success will increase dramatically.
There are certain timeframes that increase your chances of success: Best day to launch is on a Tuesday at 11am local time. It is best to launch in the middle of the month, always trying to avoid holidays. For film crowdfunding it is best to keep the campaign no longer than 30 to 40 days.
The amount you should ask as threshold is the least amount you need to be able to create the project. So the least amount is the best amount, anything over will contribute to creating a better project. Also, always have a stretch goal ready so when the target is hit you can rehash for more money.
If you are crowdfunding for a product, it is extremely important to do the research and figure out how much it costs to create the product, then add 20% for profit over the product.
There is a difference between platforms and some are better for some things than others. For projects under 30K, Indiegogo tends to be the best.
Crowdfunding conversion rates:
For filmmaking projects the current conversion rate is around 5%, this means that on about 5 people out of every 100 people who check out the campaign website will end up contributing. The average contribution is about $50.
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