This past weekend, Hasbro’s HasLab campaign to bring Jabba’s Sail Barge to collectors surpassed the half-way mark to being fully funded. The 4-foot crowdfund vehicle set to be a part of The Vintage Collection reached the 50% point just prior to the campaign itself being half way over.
Unfortunately, one of the problems with campaigns that run longer than 30 days is the slow down which occurs toward the middle of the process. There are many collectors, websites, podcasters, and YouTubers who mistake this slowdown as a lack of interest. This slowdown is very common at this stage of a campaign and here is why.
According to crowdfunding site Indiegogo, “we found when analyzing these 100,000 campaigns (not just ones that met their goals) is that 42% of funds are raised in the first and last 3 days of the campaign’s duration.”
The Khetanna generated 30.5% of its funding following the first full-three days.
Furthermore, the entrepreneur site foundr reports that when crowdfunding, “On average, expect to raise 30-40% of your funding goal in the first three days in order to have a 95% chance for your campaign to be successful.”
And lastly, the Art of the Kickstart states that, “on the first day, you should plan to pull in 30 percent of your goal. Of course, results may differ depending on how high your goal is set and how well you prepared. However, if you reach at least 30 percent in your first day – or even by the end of the first week – research shows you are more likely to succeed.”
So where does this leave us? Exactly on course for fully backing Jabba’s Sail Barge and here is why.
As of this writing, the barge still has 21 days left for backing. The past two weeks have averaged a daily growth of 2.2%. If we do some simple multiplication (21 days x 2.2%) we end up gainig 46.2% in backers. Add this to the current 52% backed and we have a potential 98.2% backed in the next three weeks. But let us not forget that 42% of most projects are funded in the first AND last days. And since The Khetanna received 30% in the first three days, we can anticipate seeing the balance (12%) in the last three days thus giving us a fully-funded Sail Barge by day 45.
For those still on the bubble, we have received preview images from Hasbro showcasing a few pages of the booklet that will ship upon the completion of a successful campaign.
#backthebarge
