Part 1 – How to Measure a Crowdfunding Campaign – The Campaign
Measuring a crowdfunding campaign takes daily effort and there are multiple metrics to measure. For Part 1 we are going to review the basics of the campaign goals.
Can You Hit Your Goal?
The following table (extracted from an Excel spreadsheet) identifies the primary measurements. The measurements should be taken at the same time every day to make sure you are comparing apples to apples. In this example we are measuring the amount of contributions/pledges every day.
There are many ways to calculate how close you are to hitting your target. In this example we are using a simple formula – the AVERAGE raised every day multiplied by the number of days remaining in the campaign. This campaign is seeking $100,000 and with 13 days left in the campaign, they need to more than double the average they have achieved so far.