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While a whopping $1.4 billion has been pledged on Kickstarter since the crowdfunding platform’s inception in 2009, only 40 percent of projects have gone on to become fully funded.
To this end, small-business payroll service SurePayroll has compiled the following infographic about how to best attract Kickstarter funders and ultimately manage a winning campaign.
Entrepreneurs should start working six months prior to a campaign’s launch, for instance, and remember that brevity is the soul of wit: product explanations should be no longer than one-to-two sentences, videos should last no longer than three minutes, the total length of a campaign should never exceed 30 days and the financial ask should remain as low as possible.
And if you’re going to be asking for big bucks, be prepared to put in the time. A recent study found campaigns that have successfully raised $100,000 spent at least 200 hours in the preparation phase and an average of 136 hours in project management.
For these and other stats, check out the infographic below.