Campaigns that can gain 30% of their goal within the first week are more likely to succeed.
Crowdfunding is a rapidly growing industry. Below, we explore key statistics including the average raise sizes, the impact marketing has on average raise, and the underlying demographics driving crowdfunding.
Key Crowdfunding Statistics
Smaller Goals are More Attainable
- Average successful crowdfunding campaign is around $7,000
- Average campaign lasts around 9 weeks
- Campaigns that can gain 30% of their goal within the first week are more likely to succeed
- Marketing Drives Raises
There is a direct correlation between the number of outside links to a crowdfund and the success of the fundraise.
Social Media is a critical factor in crowdfunding success: for every order of size increase in Facebook friends (10, 100, 1000), the probability of success increases drastically (from 9%-, 20%, to 40%).
Demographics of the Crowd
In mid-2012, the American Dream Composite Index surveyed a sample of the U.S. population to show demographics for general crowdfunding participants.
- Age. Individuals ages 24-35 are much more likely to take part in crowdfunding campaigns; those over 45 are much less likely to back campaigns
- Gender. Men are much more likely to take a risk on an unknown startup
Income. Those earning over $100,000 per year are the most likely to invest in startups through crowdfunding