Crowdfunding: why the shortest campaigns are the best

  • #1

    Hello Ululers!

    It's common knowledge that the shortest jokes are the best, good things come in small packages, and everything that's small is cute. Well, the same goes for crowdfunding campaigns on Ulule!

    When entering the game, we might be inclined to think that the longer the campaign, the more chance the project will have of gaining recognition and being funded. But the facts speak for themselves: the levels of success on campaigns of over 70 days is a lot lower than those of the shorter campaigns.

    But how does this work? Our specialist researchers in crowdfunding (us) are bent over the question.


    The project owner...

    There's no secret ingredient for a successful project: the owner just has to be active for the whole of its duration and obviously this is easier if it's a shorter period. Emailing, regular updates on social networks, promotional events, word of mouth, you know the story (Vox is overloaded with advice on the subject) but what we think about less are the answers to emails of encouragement, to comments, mentions on blogs, Facebook or Twitter.

    The list is far from being exhaustive! Your Ulule campaign requires a certain number of small tasks and that can be extremely time-consuming. If you have a social life, a job and the whole shebang, it's simple: you can't be active for the whole period!

    Longer campaigns just waste time, and can actually prove to be counter-productive, as you will read below.

    Potential supporters...

    They discover a great project, explore it check to make sure their bank balance can handle it...then they see that the project doesn't end until several weeks time (even months).

    "Ah well, I've got all the time in the world! I'll do it next week / at the beginning of the month / when I win the lottery..."

    The result of this procrastination? They forget, pure and simple...et voilà, one less supporter for your project.

    Still sceptical?

    Take a look at these success stories:

    Twice Out of Paradise: funded in 16 days!

    1000 miles: funded in 13 days (he had set 45 days and was lucky enough to collect all the money almost straightaway, but not so lucky to have to wait another month to access it...)

    UMP Universal Flowchart: funded in 3 days (obviously not everyone has such as big network, but it proves that projects can work very very quickly)

    Victorine: funded in 7 days (and having set a period of 60 days, she was rather annoyed at having to wait so long before being able to begin!)

    And there are plenty more examples on the site...

    But I'll stop there (keeping it short n' sweet since that's the theme!). Each new project published on the platform teaches us a little more and the more wise your favourite owl becomes, the more she wants to share :)

    See you soon Ululers! 

     Posted on 23 June 2011 at 12 h 24 (3 years, 6 months ago)
     Updated on 23 June 2011 at 16 h 49

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