How do I work out my target?
Setting a realistic target can increase your chances of getting funded. Here's some handy facts to help you work out how much you should aim for:
Fact 1: Average pledge on Crowdfunder = £50
Fact 2: Average conversion rate (percentage of people who view your page and then go on to pledge) = 5%
Sum: Example ideal target = £1000 Target / average pledge If the average pledge is £50 and you want to raise £1000 you need 20 backers Backers / 0.05
If the conversion rate is 5% and you need 20 people to pledge you need 400 visitors to your page
Therefore you know that you need 400 people to view your page resulting in 20 people paying £50 to get your project funded.
Bear in mind these sums do not result so exactly in the real world, however they are a very good guide.