Crowdfunding has emerged as one of the powerful tools of financing in the modern world. Individuals and organisations from all genres are flocking into the crowdfunding phenomena. This rising phenomena has turned out to become a worldwide phenomenon, hence experts are showing keen interest in crowdfunding demographics. Crowdfunding demographics is surely giving more than one reason to entrepreneurs for applying it. The crowdfunding demographics mentioned here is the consolidated study of the crowd backing of projects on famous crowdfunding websites like MyEFunder, Indiegogo and Kickstarter.
Advantages of crowdfunding demographics
The crowdfunding demographics is an elaborative way to assess the usefulness of a crowdfunding website for capital raising. Even, the performance of projects,sector wise could be easily calculated with crowdfunding demographics. Crowdfunding demographics means representation of fact in numbers and numbers speak for the cause themselves. While attempting crowdfunding these days’entrepreneurs have the past data of crowdfunding with them which helps them to choose best for their project.
The crowdfunding demographics discussed here comes from the most reputable company in this field; Quantcast. Here Quantcast gives the statistical data evaluation of crowdfunding users only from the US base.
Crowdfunding demographicsfor people who serve as audiences based on
- Gender: According to the data, men are easily lured by crowdfunding website while women are a bit hesitant in doing so. However, they seem to catch up men sooner or later. On Indiegogo, they nearly share 50:50 ratio with men on a bit higher side while on Kickstarter the male to female ration is 70:30.
- Age: Crowdfunding Demographics of age indicate a greater participation of people aged in between late 20’s to early 30’s. These people are a balanced mixture enthusiasm and experience, hence are able to understand and fund the advertised projects efficiently.
- Education: According to crowdfunding demographics most of the funds are ingested from different categories of both the website. On Indiegogo, mostly the funds come from people who do not go to college while on kick starter they come from people who are currently in college.
- Income: For Indiegogo, it is the people with an income less than $50K who are most enthusiastic about funding and the same trend follows on Kickstarter also. It seems low income grade people are keener to experiment with new options of investment.
- The mobility of internet: No doubt, the smartphone has taken the digital fraternity by storm. With it the internet has found mobility with speed. Owing to this there is paradigm shift in the way audience lookup for crowdfunding projects and invest in them. Mobile apps of crowdfunding websites make the investment process easy and under one’s thumb. Statistics of crowdfunding demographics show that 35% of the audiences of Indiegogo and 21% of Kickstarter have already found solace in funding through the mobile version.
Crowdfunding demographics is an easy way to judge the direction in which the ship of crowdfunding is steering. Careful study of crowd funding demographics and thereafter implementation can give better chances to a crowdfunding project to succeed.
