When is it the best time to launch a crowdfunding campaign?
What time of year, week, day is best?
This is a question I am often asked at workshops. There is of course no one answer but here are some questions you should ask yourself.
When do you need the money?
Work backwards from your deadline and leave at least a month from successful end of campaign and the start of your project. You need a couple of weeks to gather in the money as well as have a rest.
When do you have the time for a campaign?
Make sure you, and your team, gave plenty of time in the run-up as well as during the campaign.
Who are your potential backers?
If they have kids, running it during the school holidays could be problematic as some will be away. On the other hand some parents will be off work to look after their children so may have more time on social media.
Spread your campaign over two pay dates. People who have backed you early on might be persuaded to come in again at the end.
Time of launch
The time of your launch will be the time when it ends. So if you have worked all night and launch at 2am then it will finish at 2am. Backers get an email warning of the imminent end to your campaign and if that comes in the middle of the night it might get lost.
What else is happening?
Don’t end on a major holiday e.g. Christmas Day or major TV event e.g. Red Nose Day or the final of the X-Factor. Don’t run it during major sporting events e.g. the World Cup, Wimbledon.
There is some research that donations to charity go up before Christmas. Maybe it’s the feeling of goodwill – or people are spending so much without thought that they don’t worry about giving away money. Between Christmas and New Year is slow for web traffic (unless you are selling unwanted presents on E-Bay). Running a campaign after Christmas could be difficult as people are coping with the Christmas spending bills.
Maybe spring, when spirits rise after winter will make your friends more generous.
Can you tap into a local event or a cause related initiative – there may be extra publicity. A play around politics could generate interest before elections. A science fiction book could coincide with the launch of a science fiction film. A local charity campaign could coincide with a national week or day. You can find a list of annual awareness events here.
Time to end?
Don’t finish the campaign at tea time – perhaps after children have gone to bed. Don’t finish in the middle of a weekday as people will be at work. There are pointers to the best time to post to social media. Finish on an evening or weekend – Sunday night might be good.
If your campaign is compelling enough, there is no bad time to launch a crowdfunding campaign. If your message is engaging and shareable, and you have an engaged crowd then you the best time is now.