Page 1 of 1
Best time of year to launch?
Posted: Sun Jun 30, 2019 4:13 am
by FerryBags
I know the holidays are bad for crowdfunding, but is that pretty much it? Are we all good to launch a project on any time of the year?
Re: Best time of year to launch?
Posted: Sun Jun 30, 2019 4:17 am
by James Inc
FerryBags wrote:I know the holidays are bad for crowdfunding, but is that pretty much it? Are we all good to launch a project on any time of the year?
Yup that's pretty much the only time to avoid
Re: Best time of year to launch?
Posted: Tue Jul 30, 2019 8:13 pm
by nomlinz
The rule of thumb is never to launch during the holiday period. People are usually out of town traveling somewhere (so they're not by a computer/not interested in spending more money online) and if your'e running online ads, that is one of the hottest periods for advertisers and marketers to spend their budgets so competition online will be fierce and prices for ads will go up.
Beyond that, knowing WHEN your campaign is ready to launch is really important.
A lot of campaigns launch with the “If you build it, they will come” mentality.
Sad to say but it’s an incredibly detrimental one.
Knowing when to launch is one of the biggest campaign questions. Some people ask -
- Should I launch now so we don’t lose ground to competitors who might scoop my idea?
- Should I build up 100,000 Facebook/Twitter/Instagram followers first?
- I’ve gotten in touch with an influencer with a 40,000 person email list, should I wait until she’s able to send out a promo email?
These are all good thoughts and angles, but they’re not the most important factors in a successful campaign.
The most important factor for a campaign launch is the 30% Rule.
The 30% Rule
Your campaign is ready to launch when you can fund at least 30% of your whole goal within 24 hours using only your email list. This point is incredibly important.
There are 2 reasons for this:
1. Hitting 30% on Day 1 signals to the crowdfunding platform team that the campaign is worth keeping an eye on. This can mean additional promotions, like newsletter inclusions or Project We Love badges, on the crowdfunding platform.
2. A campaign that is 30% funded right off the bat makes newcomers more likely to contribute. It’s just psychology of the masses; they want to get in on the ground floor of something new, exciting and looks like it will be funded.
It’s the simplest and most reliable method to determine whether or not a campaign is ready to launch, or if you'll need a few extra months to prep.
According to Kickstarter’s official stats, campaigns that raise at least 20% over the course of the entire campaign have a 80% chance of funding.
That probability is fine if you’re running a couple thousand dollar campaign, but if your brand needs an excess of $100k, there’s no need to risk all your hard work for such a low chance.
At 30% funding, campaigns reach a 90% chance of being reaching their goal (at bare minimum).
Considering how much work you’re putting in your campaign, let’s do this right.
Best of luck with your launch!