Million dollar question.
When do you start your crowdfunding campaign to get the best results?
Is there a universal answer at all?
Of course, it is too risky to kick off your crowdfunding campaign based on an estimation or a feeling or hypothesis. Much more interesting information, and also way more credible, is provided by the statistics shared by campaign creators and crowdfunding platforms. Based on this data, you can create an informed decision on when to run your campaign and get the best results possible.
Plan well ahead of the campaign
Long before the promotion, contacting the media, generating potential customers… In fact, the first thing you do is a good plan.
And each plan is very different.
If you are creating an app, you may not be bothered by the logistics of the product. On the other hand, if you are creating designer lamps, suppliers and logistics will play an important role in your plan. The ideal time to run your campaign is influenced by all of these factors and many more.
When planning your campaign, you need to consider the core of your product and all the things that are associated not only with the campaign, but also with the delivery of the final product. Many plans end where the campaign ends. That’s a big mistake. If you do not take your customers into account, and also their expectations, you risk damaging your own name, brand, and the project.
In crowdfunding, there’s nothing worse than a project that did not deliver what was promised. That’s why rather than planning just the campaign, plan ahead and imagine the whole process from the pre-campaign to your customers actually holding your product in their hands.
The most popular month
August is a month made for vacation, but Kickstarter season is just kicking off during these weeks. Even though July is in its popularity among average, August is the winning month, when it comes to the highest number of campaigns launched.
What’s more, August begins the Christmas season, which ends just before Christmas. Very popular months are also October and November, which show a rise in the number of supporters buying rewards mainly of those campaigns that promise to deliver around the Christmas time.
The most popular day
Most projects start their campaigns on Tuesday night.
Not only are weekdays more popular than weekends, but Tuesday, Wednesday, and Thursday are the most popular days of the week.
Most creators, therefore, start their campaigns on Tuesday and end them on Thursday night.
The most popular hour
The vast majority of projects set their campaigns to start at the ideal time within the US time zone. This is, of course, logical, because the US market is the largest when it comes to the number of backers.
The most popular hour and the most successful too is 13:00 New York Time.
In other words, if you live in Central Europe and want to stick to this advice, start your campaign before 19:00 Central European Time.
How long should the campaign last?
Here’s a huge paradox.
The shorter the campaign, the better your chances of success.
Here are five reasons, why shorter campaigns make more sense:
- they naturally create more urgency to support the project
- they force the project team to procrastinate less
- shorter campaigns concentrate all the campaign running stress in a shorter time
- during shorter campaigns, there aren’t that many days that you will be going through a mid campaign slump
- there is a greater momentum at the beginning and at the end of the campaign, these periods are closer together when running shorter campaign
What’s the ideal duration of the campaign? We think it’s 30 days.
- Start the campaign during the weekdays (especially Tuesday, Wednesday, Thursday) when backers are active. Be sure to avoid weekends and holidays.
- Make sure that the entire team is available during the campaign, especially in the beginning and the ending period. Beginning and end of the campaign are periods when backers have the highest tendency to buy rewards.
- Understand statistics and data. Keep track of what’s happening to your campaign and keep track of visitor behaviour on social media and on your website. Also, pay attention to the data that the crowdfunding platform provides to you about your campaign.
- Run your campaign only when you are sure that the product is functional and when at least a few people from your target audience have tried it.
- In advance, make sure that you meet all the conditions of the crowdfunding platform. You will make your life unnecessarily uncomfortable, if you find out that you don’t meet them just a few hours before the launch.
- Check if your product/service is seasonal. If so, make sure you start the campaign during the highest peak of the season.
- Optimal Campaign Length? 30 days.
- Do not try to run the campaign before your original launch. You will end up creating an unnecessary pressure on yourself.
- Good campaigns usually require many changes. Take advantage of the pre-launch page and share the “beta version” of your campaign with potential customers and adjust the campaign based on their feedback.
- Don’t be afraid to postpone your launch! If you want to launch your campaign on an exact date and on the way you realize you can’t make it, instead of rushing, give yourself some time to breathe and create a campaign that you will be proud of.
Statistics are one thing and the uniqueness of your project is second. When starting your campaign, apply general concepts of building the campaign, learn from other similar campaigns through research and don’t forget to be original. Everything is in your hands.