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Needed: Data on what works in crowdfunding

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Recently spotted this bit of data analysis concerning a series of Kickstarter projects:

The data is not based on a random sample, unfortunately, but on what this guy invested in (about 50 projects over the course of a month).  From that he comes up with a few "lessons," including that those running projects who "hustled" more tended to raise more money (and hustle is loosely defined, but appears to involve more updates and conversing with supporters).

This isn't a huge surprise, and highlights the importance of connecting with fans, but I'd love some more rigorous data analysis of what works and what doesn't in crowdfunding.

And just for posterity, the summary bullet points from that writeup were as follows:

  1. Start the really good rewards at around $50. (You can go a little lower if you're doing a book.)
  2. Try to get people who put a lot of money into a few Kickstarter projects, rather than people like me who spread it around.
  3. If you're not sure how much you can raise, try something in the $1k-$2k range.
  4. Hustle, dammit. 
initiated Oct 14, 2011 in Lessons Learned by Mike Masnick (22,930 points)   59 99 160

1 Response

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There are a couple other people who have done some analysis and nice-looking infographics on Kickstarter projects: Edwin Chen and Catherine Mulbrandon

response added Oct 18, 2011 by Michael Ho (2,370 points)   10 14 27

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