mcrcrowdfund does not use an all-or-nothing funding model. Even if you don’t reach your goal, we feel you should be able to receive the money your campaign was able to raise. Just know that regardless of whether you reach your goal, you will be responsible for delivering all the incentives promised to your contributors. Otherwise, your fans’ contributions will be refunded.
You’ll want to have a good sense of how much support you can reasonably expect from your fan base. After all, most of your support will come from the people most familiar with you and your work.
Once you’ve established your budget and considered your fan base, you’re ready to set your goal. Try to choose an amount that will cover your project’s needs, but which is feasible considering your anticipated level of engagement. Don’t worry – you can always raise more than the amount you set!
Funding timelines depend on several factors. Campaigns can last weeks or even months, as projects can have different financial goals. Statistically, projects lasting thirty days or fewer have the highest success rates. Shorter projects convey a tone of confidence and help motivate your supporters to participate.
When a project is successfully funded, mcrcrowdfund applies a 7% fee to the total amount raised (plus an additional 2.9% + $0.30 per transaction standard credit card processing fee). Therefore, in estimating your budget, you should give yourself a cushion.