Predictions based on other data
Posted: Sun Jan 19, 2025 3:46 am
What is success?
Whether a Kickstarter campaign is successful depends on the feasibility of the set financial goal within the set time frame. This applies to so-called fixed funds campaigns , the only flavor that Kickstarter offers. At Indiegogo it is different, there you can also set up a campaign based on flexible funds , where you always get to keep all proceeds, whether or not you reach your goal. Success then immediately gets a different definition. However, the actual success of a crowdfunding project can only be determined by the creator after the campaign. Will he succeed in getting the production done? Are the budgets correct? Are there unexpected setbacks? Will he stay in touch with his backers ? How much is a successful campaign worth if the product ultimately turns out to be junk or ends up unused at the bottom of a drawer and no one wastes a word on it anymore?
It is difficult to look at the real successes in the short time that crowdfunding has grown portugal mobile phone number list but also for the prediction of short-term successes other components than the money and the distribution over social media are important. A selection of the characteristic factors that I have encountered:
Is the campaign following a hype or a trend? If so? High chance of success! Just search for 3d printers, smartwatches and other e-gadgets.
Is the campaign taboo-breaking? If so? Successful! See the smart vibrator Vibease .
Does the creator provide regular updates or is he silent? The quieter, the worse. Dedication and commitment go hand in hand with good communication.
Does the goal match the product or the consumer's expectations? The bigger the gap, the worse. Everyone thinks one million dollars for a space telescope is logical and that will yield one and a half million dollars. But I don't give a campaign that asks for 500,000 dollars to make an exclusive watch much of a chance. No matter how beautiful the watch is.
There are many other success factors to discover if you take the time to keep an eye on Kickstarter and Indiegogo.
Conclusion
Am I more likely to support a campaign if the chance of success increases? Maybe, but only if it concerns a product that I really want. But it's not about me. Ultimately, it is the creator of a campaign who needs to estimate his chance of success in advance. In advance is the magic word here. Elements such as revenue in the first few hours, number of (re)tweets and the type of backers are of no use to you. The data on the website sidekick is informative and provides good insight if you regularly support crowdfunding projects and are often found on Kickstarter. For the potential crowdfunder, who expects to be able to base the feasibility of his campaign on this information, such predictability from Kickstarter is not useful.
Photo intro courtesy of Fotolia.
Whether a Kickstarter campaign is successful depends on the feasibility of the set financial goal within the set time frame. This applies to so-called fixed funds campaigns , the only flavor that Kickstarter offers. At Indiegogo it is different, there you can also set up a campaign based on flexible funds , where you always get to keep all proceeds, whether or not you reach your goal. Success then immediately gets a different definition. However, the actual success of a crowdfunding project can only be determined by the creator after the campaign. Will he succeed in getting the production done? Are the budgets correct? Are there unexpected setbacks? Will he stay in touch with his backers ? How much is a successful campaign worth if the product ultimately turns out to be junk or ends up unused at the bottom of a drawer and no one wastes a word on it anymore?
It is difficult to look at the real successes in the short time that crowdfunding has grown portugal mobile phone number list but also for the prediction of short-term successes other components than the money and the distribution over social media are important. A selection of the characteristic factors that I have encountered:
Is the campaign following a hype or a trend? If so? High chance of success! Just search for 3d printers, smartwatches and other e-gadgets.
Is the campaign taboo-breaking? If so? Successful! See the smart vibrator Vibease .
Does the creator provide regular updates or is he silent? The quieter, the worse. Dedication and commitment go hand in hand with good communication.
Does the goal match the product or the consumer's expectations? The bigger the gap, the worse. Everyone thinks one million dollars for a space telescope is logical and that will yield one and a half million dollars. But I don't give a campaign that asks for 500,000 dollars to make an exclusive watch much of a chance. No matter how beautiful the watch is.
There are many other success factors to discover if you take the time to keep an eye on Kickstarter and Indiegogo.
Conclusion
Am I more likely to support a campaign if the chance of success increases? Maybe, but only if it concerns a product that I really want. But it's not about me. Ultimately, it is the creator of a campaign who needs to estimate his chance of success in advance. In advance is the magic word here. Elements such as revenue in the first few hours, number of (re)tweets and the type of backers are of no use to you. The data on the website sidekick is informative and provides good insight if you regularly support crowdfunding projects and are often found on Kickstarter. For the potential crowdfunder, who expects to be able to base the feasibility of his campaign on this information, such predictability from Kickstarter is not useful.
Photo intro courtesy of Fotolia.