If you’re thinking about creating a crowdfunding campaign, you probably have some questions. Like what platform to use, how long your video should be, how long the campaign should stay open, and how many reward levels you should offer.
To answer some of these questions, crowdfunding industry market research and data analysis company HiveWire partnered with e-commerce website-building platform Shopify to analyze 400,000 completed crowdfunding campaigns on the two best-known platforms — Kickstarter and Indiegogo.
Although every campaign will have unique needs, the research found the following averages for successful campaigns:
- They last 35 days.
- They offer 9 levels of rewards.
- They have 8 updates from campaign owners.
- The founder of the campaign has an average of 923 friends.
- The average pledge is $87.
- The average video lasts 3 minutes and 4 seconds.