Launching a Crowdfunding Campaign in Uncertain Times: Go or Wait?

Economic uncertainty, whether it's a recession, high inflation, a market downturn, or a global event like a pandemic, tends to keep people close to home and closer to their screens. Now more than ever, people draw on things that are artistic, innovative, and beautiful. And as a creative community, we play a major role in spreading hope and inspiration during these periods.

Throughout history, great innovations were brought to life during times of turmoil. Not only does it give inspiration for others when it's very much needed, working on something important to you is purposeful and satisfying.

We acknowledge that it may be hard for creators to focus on their idea when the economy feels shaky. But if you and your team can move forward with your project in a thoughtful, well-prepared manner, uncertain times can actually work in favor of your crowdfunding campaign. Understanding the three stages of a successful campaign is crucial regardless of timing.

Opportunities in crowdfunding, even during uncertain times

Looking at the numbers, we continue to notice an above-average increase in engagement with our pre-launch campaigns. These results can be credited to two things:

People tend to spend more time online during downturns and periods of crisis, as we saw during the 2020 pandemic, which means more eyes on your campaign

Advertising costs often go down as competing brands pull back their budgets

Our data points out that more people sign up for our pre-launch campaigns. They also pay more attention to the information being shared. And equally important, we're not seeing a downturn in backer engagement for live campaigns. When considering optimal launch timing, these factors can actually work in your favor during uncertain times.

☞ Success Stories:

Campaigns such as The ERA Backpack, Gamedec, or AVENTI A-10, all in different categories, with different target audiences, show an almost constant growth in funding throughout the campaign.

Platforms adapt during uncertain times

The crowdfunding community has a history of finding new ways to support creators when times get tough. During the 2020 pandemic, for example, Kickstarter launched Inside Voices, a program that invited creators to build smaller projects with whatever they had on hand at home. It's a reminder that platforms and the wider community tend to lean in, not pull back, when creators need support most.

Conclusion

Crowdfunding remains an excellent way to test your idea against the market and raise funding along the way, even during times of economic uncertainty. Whatever the current climate, we invite you to continue working on your idea if you're able to. And if some time off is what you really need right now, that's perfectly fine too. We invite you to find inspiration in the works of others. Before making your final decision, consider reviewing the pros and cons of crowdfunding to ensure this approach aligns with your current situation.

Regardless of your decision, remember that economic uncertainty doesn't last forever. Thoughtful preparation now can put your campaign in a strong position to launch whenever you're ready.

P.S. If you need help, we'd be happy to assist you in getting more traffic and pledges to bring your campaign to life. Our comprehensive marketing services are designed to support campaigns during any market conditions.

Frequently Asked Questions

Is it a good idea to launch a crowdfunding campaign during a crisis?

It can be. During COVID-19 we saw above average engagement on pre launch campaigns, driven by more screen time at home and lower advertising costs. If you and your team can move forward safely and responsibly, a downturn can actually lift your success rate rather than hurt it.

Why did crowdfunding engagement go up during COVID-19?

Two things drove it: people were home with more screen time, and advertising costs dropped. That meant more sign ups for pre launch campaigns and more attention paid to the information being shared, with no downturn in backer engagement for live campaigns.

Did any crowdfunding campaigns succeed during the pandemic?

Yes. Campaigns like The ERA Backpack, Gamedec, and AVENTI A-10, all in different categories with different audiences, showed almost constant growth in funding throughout their campaigns during this period.

How did crowdfunding platforms support creators during COVID-19?

Platforms looked for new ways to help. Kickstarter, for example, launched Inside Voices, a program inviting creators to build smaller projects with whatever they had on hand at home.

Should I delay my campaign if I am not ready right now?

That is perfectly fine. Crowdfunding remains an excellent way to test your idea and raise funding, but if you need some time off right now, take it and find inspiration in the work of others. When you are ready, getting help to drive more traffic and pledges can bring the campaign to life faster.