New Crowdfunding Infographic Shows How It Has Made a Big Impact for Small Businesses, Offers Best Practices

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Sep 30, 2014, 09:20 ET

WASHINGTON, Sept. 30, 2014 /PRNewswire-USNewswire/ -- SCORE, – www.score.org - mentors to America's small businesses, has gathered statistics about how the alternative financing method of crowdfunding has grown in popularity over the last 5 years and how small businesses can get the best results from their crowdfunding campaigns.

Crowdfunding Grown Dramatically in 5 Years

According to data presented visually in the infographic, crowdfunding volumes have increased more than 18x since 2009, now topping $10 billion. The average campaign amount is $7,000 and is successful 50% of the time.

Secrets to Campaign Success

The infographic also offers data that illuminate several best practices small businesses can employ to reach their funding goals:

Ask for less than $10,000 – smaller projects have the highest success rates compared to those under $50,000 or under $100,000
Include a video - increases success by 250%
Get "featured" – increases success by 89%
Broadcast in social media – for every order of magnitude increase in Facebook friends, the probability of success increases from 9% to 20% to 40%
Start strong – those that hit their goal in the first week are most successful
Allow time - 45 days is the optimal length of campaign
Choose the right platform – Kickstarter has the highest success rate, followed by Indiegogo and Rockethub

Download this month's SCORE Infographic to access all the data regarding the impact of crowdfunding on small businesses and how to run the most effective crowdfunding campaign.

DOWNLOAD HERE: https://www.score.org/resources/infographic-crowd-funding

About SCORE
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE provides small business mentoring, workshops and education to more than 375,000 new and growing small businesses. More than 11,000 business experts volunteer as mentors in over 320 chapters serving local communities with entrepreneur education.

For more information about starting or operating a small business, call 1-800/634-0245 for the SCORE chapter nearest you. Visit SCORE at www.score.org. Connect with SCORE at www.facebook.com/SCOREFans and www.twitter.com/SCOREMentors.

Contact Information
Aliana Marino
800/634-0245
[email protected]

Photo - http://photos.prnewswire.com/prnh/20140929/149201-INFO

SOURCE SCORE