Crowdfunding has really taken off in the past couple of years. Crowdfunding alone raised an estimated $5.1B worldwide in 2013. Individuals and organizations are using crowdfunding methods and platforms to raise money for their causes, and it's working. Craig Newmark, of craigconnects, comissioned my web agency Rad Campaign to research the effects of crowdfunding, and we took the fascinating results and created an infographic.
Over the course of our research, we spoke with prominent crowdfunding platforms such as Causes, Causevox, FirstGiving, StayClassy, Razoo, and others to find out just how much money crowdfunding campaigns raise on average for organizations? What best practices should nonprofits live by when crowdfunding? And how much money is the average crowdfunding donation?
Here are a few key findings that you should know about:
- The average donation to a crowdfunding campaign is $88
- On average, more than 28% of crowdfunding donors will donate again.
- Fundraisers who receive their 1st donation during the first 3 days of the campaign are more likely to hit their goal than those who don't.
Have you been doing crowdfunding right? Is there anything new you discovered in this infographic that you'll begin implementing?