Tuesday, December 10, 2013

Crowdfunding 30% Rule

Some quick thoughts for if you're self producing and considering crowd-funding with kickstarter or indiegogo: Momentum in crowd-funding makes a big difference. Start with at least 30% of the goal committed, and success is far more likely.

Consider these study results:

Before launching, try and pre-commit at least 30% (if not more), either through guaranteed pledges or your own personal money

(from Crowdfunding Metrics: The 30% Rule).

You can probably ask friends and family for money once just because they are your friends and family. For any additional times, they better already be delighted that you asked them the first time. In all cases, the key isn't just connecting with your friends and family, but also people who aren't already your friends and family; connect with the people who will be fans. Crowdfunding might be best seen as a way to engage your audience, and enrich their experience, and not used as the central source of financing.

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this posted by David August at 11:01 AM 

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