All Kickstarter Projects are unique and every project creator has distinct skill sets, assets and experience to make the most out of their funding. Many have amazing art skills to impress their potential supporters, others have larger social networks or an idea that is highly likely to go viral. Some of them may even have the finance to advertise with the hope to turn their tiny investment into a big success. While every project creator seems to be unique, the funding curves usually seem to be similar for everyone. With the new 3D Printing Technology embarking on unexplored horizons, the following guide on crowd funding projects gives you a better grasp over how this new industry is moving.
Many of the Kickstarter Projects sites are offering interesting, unique tools to help you make the most out of your projects. Some of the widgets keep a track over a wide range of daily metrics including trends, pledges and backers from all the active projects. They display them in a special format so that you can understand them with ease. You will be able to get a grasp of the trends by just having a glimpse of the trajectory. If you have all the time at your hands, use these tools for evaluating all the projects for their patterns.
Whether it is for new 3D Printing Technology or other types of projects, a normal project will display a typical type of progress. Such projects show a lot of progress during the initial and end stages, but they are quite flat in the middle. There is a popular belief in the world of kickstarters that the longer a project remains active, the lesser will be the enthusiasm about it. In such projects, most of the money is made within the first 10 days. In fact, 70% of all the funding is received in 30% of the period, which is the ideal example of the Pareto rule.
Another pattern seen in Kickstarter Projects is the constant pattern. When projects are highly successful, it seems that there is no stopping to the inflow of funding support. Almost every day the backers keep taking your project to their friends and this results in an almost constant upward trend. It is common in such projects that the trend line crosses the goal line in a short period of time. Most of the big successes fall into this category of pattern but not all of them. Interestingly, the $3.5 million reaper campaign, which had massive number of backers involved, remained stuck with the more typical pattern in funding. It gained most of its funding (50%) in the last week of the campaign.
Then there are the unsuccessful patterns that fade away before showing active patterns in certain parts of the project. Whether it is the 3D Printing Technology or a new Android app, any project could fall into these three types of funding patterns. Whether you are a project creator or just an enthusiast, when it is about Kickstarter Projects keep these three patterns in mind.