I’m excited to share my new crowdfunding calculator which lets you predict how much your organization can raise in the first year of running your own crowdfunding program.
How did I create the crowdfunding calculator?
At Hubbub, we’ve helped many universities and schools to create institution-wide crowdfunding programs. I’ve combined data from these and other established programs, and analyzed this data to identify a few key factors that determine how much a university program raises. The most significant (and measurable) factors include:
- student population
- marketing activities
- country of origin
Raising even more
No two crowdfunding programs are the same, so the calculator predicts an “average” or “standard” program – whatever that is! In practice, some schools prefer to publish many smaller projects, e.g. The University of Essex, whereas some prefer to focus on a smaller number of larger projects, e.g. Somerville College, University of Oxford.
The oldest, and arguably most successful program, at Middlebury College, integrated crowdfunding into the school’s enterprise courses, thereby generating many high quality, well prepared projects which focused on social good. If you’re willing to go further, it’s very possible to do much better than the calculator predicts!
What happens in year 2?
There are many factors which affect the success of a crowdfunding program, so the analysis was performed focusing on a few key variables, with a limited data set.
If you’d like to submit data from your program to support a more accurate calculator, please email me at email@example.com.
Latest posts by Duncan Knox (see all)
- What is digital fundraising? - March 1, 2017
- Matchfunding: how it affects universities’ crowdfunding programs - October 25, 2016
- How much can your institution raise with a crowdfunding program in Y1? - September 20, 2016