A new report reveals that crowdfunding campaigns are raising six figures and reaching new milestones.
The ‘Crowdfunding Champions’ report published by Kickstarter advertising agency CrowdReach and data intelligence service TAB, reveals first of its kind data on the most successful campaigns from last year.
According to their findings, more and more campaigns are raising six-figures plus with last year, one in every 20 technology and design campaigns successfully raising this amount.
The report also shows the extent to which campaigners are willing to go to ensure they raise as much as possible. On average the top campaigns are spending over four month preparing, hiring external support and are spending around $49,682 on marketing.
“Our findings show how reward-based crowdfunding has evolved. No longer are businesses content with hitting their campaign goal as they see the opportunity to raise significantly more. Collectively the campaigns we examined overfunded by more than $250 million, seven times the original goal,” Rob Wilson, managing director of CrowdReach said.
“Many of the campaigns we surveyed have been featured all over the internet but behind the headlines, little is known about how they achieved it. We wanted to create this report to shed light on what it takes to raise six-figures plus and by doing so, help more campaigns to reach these heights.”
According to Wilson, the crowd is a great resource to launch your product and generate pre-sales but for most creators looking to raise more than six-figures, they will need to be willing to invest in making in their case.