Kickstarter
Historically, Kickstarter has a higher overall success rate for campaigns compared to Indiegogo. As of recent statistics, Kickstarter’s success rate hovers around 38%,
meaning that approximately 38 out of every 100 projects reach their funding goals.
Kickstarter’s all-or-nothing funding model often encourages backers to pledge more confidently, knowing that the project must meet its goal to receive any funds.
Indiegogo
Indiegogo offers both flexible and fixed funding options, leading to a lower overall success rate of around 20-30% for campaigns. This flexibility allows creators to keep funds even if they don’t meet their goal, which can lead to a lower incentive for backers.
Indiegogo is often seen as more accommodating for various types of projects, including those that may not fit the traditional crowdfunding mold.
Factors Influencing Success Rates
Type of Product: Certain categories, such as tech gadgets or innovative consumer products, tend to perform better on Kickstarter due to its established audience interested in these areas.
Marketing and Promotion: Successful campaigns on both platforms often rely heavily on pre-launch marketing efforts, social media engagement, and building a community before launching.
Project Presentation: High-quality videos, clear descriptions, and attractive rewards can significantly influence the success of a campaign on either platform.
Conclusion
While Kickstarter generally has a higher success rate for product-based campaigns due to its focused audience and funding model, Indiegogo offers flexibility that might be beneficial for certain projects. Ultimately, the choice between the two platforms should consider the nature of your product, your marketing strategy, and your funding needs.
