Now that you’ve made the decision to go ahead and try doing a crowdfunding campaign, there are some considerations that you’re going to have to make. One of the main considerations that you will want to think about is how long that you want your campaign to go.
As you know, there are a number of options that you have here, depending on the platform that you have decided to use. In this article, I’m going to give you a quick look into my thoughts on the differences between the two, and then answer the big question as to which one is better.
30 Day Campaigns
A 30 day campaign is going to go by really quickly; this is just over 4 weeks of time to get all of the money that you’re working to get. But, there are actually lots of advantages when it comes to having such a short campaign.
- Increased hype. If you are only going to run your project for 30 days, then there is a lot less time to get hype going for your campaign. But the hype will be increased immensely if you have followers that are really excited about what you have to offer. People will be more likely to share your project because of the next reason that is listed.
- Sense of urgency for contributors. If there are only 30 days to raise the funds, then your followers are going to want to get the word out. They will share more on social media and let their friends know a lot more quickly than they would if there were 60 days for the campaign.
- Easier for you as the project manager. One of the things that you have to do with your campaign is keep people interested and engaged. Shopify’s Ultimate Guide to Crowdfunding says that “The longer the campaign, the harder it is to continue to keep your audience engaged, excited, and contributing.” Instead of having the additional pressure to keep that hype going for another 30 days, you are done at 30 days and can start working on the end result of your campaign.
60 Day Campaigns
Of course, there are some people that believe that it’s a lot better for you to just go ahead and do a 60 day campaign. Here are just a few of the advantages of doing a campaign for a little bit longer.
- You usually end up with more money. Even though this isn’t always the case, Indiegogo says that “On Indiegogo, the campaigns that set a funding deadline between 60 and 70 days raise, on average, 141% more money than their shorter or longer campaign counterparts.”
In that same article, however, they do recommend that you shouldn’t go too long, because “Each campaign is unique, so it can depend on many factors; however, we do know that adding more funding time is not always going to result in more money.”
- It gives you more times to make changes and adjustments. If you are thinking that you may have to make adjustments, or you want to make sure that your contributors start to see some of your results before your campaign is even over, then 60 days will definitely give you that edge when you’re putting together your campaign.
Which is Right For You?
Chris Dyson on Triple SEO says that “Kickstarter campaigns lasting for 30 days have a 35% chance of meeting their funding goals whereas campaigns lasting for 60 days only have a 29% chance of success,” so you can see that the difference is very slight. There are a few questions that you’re going to have to answer to figure out which one is better for you.
- How quickly do I need my project to be funded?
- How much time do I have to work with before I even start the project?
- How much money am I going to have to raise?
As you can see, the statistics above indicate that 30 day campaigns usually see better results, but that this isn’t always the case. My suggestion is that you go ahead and look at different campaigns that are similar to yours and compare the differences in their funding results. Then, you can see which set up (either 30 day or 60 day) is going to be right for your specific needs.