This short presentation provides advice and guidance on how best to run a rewards based crowdfunding campaign. The 5 key phases of the campaign are outlined and examples are given of how campaigns have worked in the past.
The Five Phases of Crowdfunding Campaigns
THE PRACTICE OF
FUNDING A PROJECT OR
VENTURE BY RAISING
MONEY FROM A LARGE
NUMBER OF PEOPLE
4 Types of Platform
Backers donate to good
causes without respecting a
Entrepreneurs offer shares
in their businesses to
investors in return for
Operates in a similar way to
a bank where platform
determines risk and rate of
Similar to pre-ordering
goods as campaigner
pledges to do something in
return for backing.
64% of Kickstarter campaigns fail (36% succeed).
Those that fail generally raise a fraction of their target (0-20%). As
such if your campaign manages to raise over 30% it has a 90%
chance of succeeding.
Data taken from 213,161 failed Kickstarter campaigns.
4% 1% 1%
0% 1%-20% 21%-40% 41%-60% 61%-80% 81% - 99%
Day to Day
On average 28% of the funds raised during a campaign will be raised in
the first 3 days.
On average 66% of funds raised during a campaign will be raised in the
first and last week (very little gets raised in the middle). The spike at the
end is due to a mixture of psychology and campaign marketing.
For more stat’s on campaigns check out Sidekick.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38
5 Phases of Crowdfunding: Timeline
Audit existing crowd,
assets and set out
Create assets necessary
for campaign including
video, copy, photography
and media kit.
In practice this is done in
tandem with the building
Grow your crowd as
much as possible prior to
LAUNCH & RUN
The campaign will typically
run for 25 to 40 days on a
Delivering the reward
and keeping backers
All or Nothing
36% Project Success Rate
Mainly Flexible Funding
10% Project Success Rate
21% Success Rate
1. PDF version of comic £3
2. Print version of comic £10
3. Signed comic + second comic (I’m on fire) £35
4. Signed comic + original page £55
5. All of the above + original sketch £200
6. Stretch Goal: 10 Pages of Original Artwork.
Might also want to consider early bird discounts on
products to get that initial support driving your
Rachel Smith’s “House Party”
Raised £5,234 from 252 backers
To Your Target
Credit Cards & Postage
£3,766Average raised on Kickstarter (Median)
Average number of
you get 3
Best Day’s to
Most popular pricing
Most successful category
Film & Video is the most popular category for campaigns
Before launching into your campaign it’s worth surveying your
crowd to make sure that they want what you’re offering. Survey
Monkey is a free and easy to use tool which will allow you to get
the feedback you need.
Create the Required Marketing Collateral
• Elaborate (Examples)
• Call to Action
Think about your campaign as a story
and how best to tell it.
The Sales Process
The first thing marketing collateral does is
gets us known. It should be easy to
understand what we are offering and who
we are offering it to.
Next we want the backer to like us and our
products. This is especially important in
crowdfunding where backers are buying
into the entrepreneurs journey.
Now that the backer likes us, it’s important
that they trust us. This is achieved through
providing evidence such as video’s of the
prototype, awards, testimonials.
If the backer knows, likes and trusts you
then they will probably buy. Although it’s
still important to have a clear call to action
when it comes to closing the sale.
Video 1:58 (Average 3:04)
1,893 backers pledged £34,757.
Think about using
infographics to tell
The Power of Email
Email enjoys a click through rate of between 2% & 4%
whereas social media only manages 0.3% to 0.7% so
email is the most important method.
Use a free email marketing service like MailChimp to
distribute to your mailing list and monitor opening
rates and responses.
MailChimp also allows you to create sign-up forms and
post on your website.
Social Media should be used to build up a
mailing list not replace it.
Hootsuite allows you to manage your
social media. You can choose when to
post and across multiple platforms
Social media and email correspondence
should now be arranged and any key
events pencilled in.
What else can be done?
Thunderclap is an App that allows users to post content on other
peoples social media accounts (with their consent).
The idea is that a post can be made across 100 or more accounts
all at once increasing the chances of that post trending
throughout social media.
Think about live streaming a Q&A
session during the campaign to attract
Now Make Good on Your Promises
It took 14 months to deliver Geco Hub with backers
being updated 39 times.
Delay’s are to be expected with around 96% of
products on Kickstarter arriving late.
The average project delay is 7 months but backers tend
not to mind too much if they are kept updated
Part of the appeal of Kickstarter is that you get to
witness the journey
Simon Lyon’s “Geco Hub”
Raised £25,106 from 339 backers.
It took 14 months to
deliver Geco Hub so
backers were updated