Crowdfunding is becoming immensely popular amongst entrepreneurs, startups and creators of all kinds.
Individuals are launching crowdfunding campaigns not only for their personal needs, but also for funding their business ventures as well as for supporting a social cause. Many campaigners market their campaigns based on their gut and rely on good fortunes for their campaign to be successful. A few of those campaigns might become successful because it can be fortuitous that the campaign might go viral due to some obscure reason. But, the majority of the campaigners will be left perplexed about what went wrong.
What went wrong? This question has haunted many campaigners in the past because the campaign they launched with so many aspirations, unfortunately, failed. There is a very simple solution to this problem. Data. Yes, this four letter word can be the reason behind a successful crowdfunding campaign. So how does data help? Well, let me take you back to early 19th century. The studies and data analysis of vehicle production, led Henry Ford to introduce the Assembly line, thus revolutionising manufacturing.

Data analytics has the potential of transforming the crowdfunding industry from the inside out.

An effective medium to market a campaign is through Social Media. It has the power to make even the subtle things viral and vice versa. Every campaign promotion starts with numerous activities. A campaign page gets traffic from a wide range of sources. While some campaigners might get traffic from their advertisements on various search engines, others will drive traffic from Facebook, Twitter or even through LinkedIn. An effective analysis of the traffic data and identification of the most engaging source can cater to the success of a campaign. To be able to analyse the traffic source will lead you to the right direction. Demographics is an amazing way to gather valuable data and generate useful insights. Knowing the most popular cities that are actively engaging on your campaign can help the campaigner a lot. Age groups with the most contributions can also generate valuable insights and can help narrow down the target audience.
Data Analytics have been shedding light on Crowdfunding for a long time now, it just needs to be discovered by the campaigners. It will be interesting to see how the campaigners use these insights to make their campaign successful.

Data Analytics have been shedding light on Crowdfunding for a long time now, it just needs to be discovered by the campaigners. It will be interesting to see how the campaigners use these insights to make their campaign successful.

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