Hi Fuse,
I think 700 leads is a good start, but you need way more if your goal is to get at least 100k.
Here are some numbers from my personal experience and from other creators I've spoken to:
* My first project was a book (I described it in detail here:
my-kickstarter-story-for-those-who-want-to-raise-up-to-10k-t12206.html and I gathered around 2000 leads during prelaunch. Most of them were people who already knew me (they weren't strangers who opted in to my mailing list). During the project 10% of them (200) became my backers and I raised $8379. But keep in mind that 10% conversion rate is extremely good and it rarely happens.
* I interviewed a person who helped creators to launch 8 projects that raised more than a million. According to this person, if you have a very strong USP (unique sales proposition), a good product-market fit and create an appealing video, description, and rewards, you can expect 2-3% conversion rate by collecting leads from Facebook Ads.
* I've spoken to other creators about their experience and I've heard conversion rates from 0% (yes, none of the leads converted) to 5%.
* I also participated in another project as collaborator. We also used Facebook Ads + Landing Page + Email Sequence to collect and nurture leads. We gathered around 2000 leads. We expected to get 3% conversion, but once we launched a campaign, barely 0.5% converted.
You'll never know how many leads will convert until you actually launch your project. You can only learn by doing.
My suggestion is to create optimistic, realistic and pessimistic scenarios.
E.g. optimistic conversion rate - 5%, realistic - 2%, pessimistic - 0.2%.
Then you can make calculations and find out how many leads you need to collect during pre-launch.
Suppose your goal is $100k, an average pledge - $100 and you want to get 30% funding within 24 hours.
In such case you must attract at least 100 000 / 100 *30% = 300 backers during the first day.
Let's calculate number of leads in each case:
* Optimistic: 300/0.05 = 6 000 leads
* Realistic: 300/0.02 = 15 000 leads
* Pessimistic: 300/0.002 = 150 000 leads
As you see, it's way more than you currently have.
Also if you plan to raise at least $100k, be ready to spend at least 30% of that on direct marketing.