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Tag Archives: crowd
Kickstarter is an exciting, powerful crowd-sourcing tool that is quickly becoming a must-use for independent artists. I recently completed a successful (though modest) Kickstarter fundraising campaign for a documentary film I’m producing. This blog post is a summary of principles learned about Kickstarter, gained both through my own experience and through studying other campaigns (both successful and unsuccessful).
They tell me that a magician shouldn’t reveal his secrets. Thankfully, I’m not a magician.
Before you go any further, consider reading some of the following in-depth analyses of successful Kickstarter campaigns:
- Kickstarter’s statistics on timing and levels of rewards ($5-75 “impulse buy” levels are the most profitable; most donations come at the very beginning and very end of campaigns, regardless of total campaign duration)
- Craigmod’s success principles
- Kickstarter milestones (roughly half of all Kickstarter campaigns fail)
- Miao Wang’s success principles
- Olga Nunes discusses her Kickstarter success
Read all of that. I mean it. I don’t endeavor to supplant any of that information, but I do expect that my readers will be familiar with that material before going into some specific types of funding that I have experience with.
How Much Funding Do You Want?
There are four types of Kickstarter campaigns, in terms of their level of success:
- Successful campaigns that greatly surpass their goal
- Successful campaigns that reach their goal
- Unsuccessful campaigns that almost reach their goal
- Unsuccessful campaigns that are epic failures.
Most people want category 1 (greatly surpassing their goal), but the evidence suggests that only a certain type of project (pre-orders) is likely to fall into that category (more on that below).
An extremely important question is: How much do I think I can raise? How many fans do I have who might be willing to chip in $15-20? Do I have any absurdly wealthy friends or family members? Do I have access to an uncommonly-large channel of communication? Answer those questions with brutal honesty and set your goals accordingly.