Setting your target
Your crowdfunding target needs to be a balance between what you need to raise to make your idea happen and what you think you can raise from your crowd. Be realistic - remember that you can always raise more and stretch your target to a bigger number once you hit 100%.
Calculate the minimum amount of money you need to deliver your project and fulfil your rewards. Don’t forget that if your project is successful, there is a 5% platform fee that you’ll need to account for. Read more on fees.
You have two options to choose from on Crowdfunder
All or nothing
This method means you need to raise 100% of your target to receive any money. If your project does not reach its target, no money is taken from your supporters and your project will not be funded. This option is the best motivator for you and your crowd.
Keep what you raise
This method does what it says on the tin! This is a flexible funding method where you still receive the money, even if you don’t reach your target. This is a good option for ongoing projects or charities, where any contribution can be put to use.
Choosing your project duration
Your campaign can last anywhere from one day to eight weeks, but more time doesn’t necessarily mean you’ll raise more money. Four to five weeks is the sweet spot.
Choosing a short and sharp campaign means you can get your crowd excited and maintain a sense of urgency. Longer campaigns can start to lose steam and might actually end up becoming annoyingly repetitive.
Read more in our packs for Planning, Creating and Running your project.