Crowdfunding Gogo

Kickstarter vs

Conversion Rate of Kickstarter and IndiegogoWhen Warner Bros decided not to fund Rob Thomas’s feature film for the now cancelled TV series Veronica Mars, he looked to Kickstarter—and the Kickstarter community responded. Reaching $2 million dollars in less than ten hours, Veronica Mars broke multiple records, gathered the attention of the industry, and had people seriously reconsidering the legitimacy of crowdfunding. Today, the top five projects combined have received over $32 million dollars in funding.

Although Kickstarter was founded in 2009, several years after other crowdfunding sites like Pledgie, the site has quickly become the market leader and poster child for online crowdfunding.Conversion Funnel Kickstarter Consistently bringing in around 1.5 million unique visitors (UVs) over the past few months, they have solidified their place at the top and have become synonymous with the concept of crowdfunding.

In terms of traffic and market recognition, Indiegogo is definitely a close second to Kickstarter and their closest competitor. Although Indiegogo only sees half the traffic of Kickstarter, their engagement metrics are very similar—indicating that with consistent traffic increases, they could knock Kickstarter off their throne. However, what really matters when running an ecommerce site is the bottom line.Conversion Funnel Indiegogo So how do the two sites compare on conversion rates?

Taking a look at crowdfunding conversion funnels

For a Closer Look, Click on the Funnels

Using data from Online Conversion Insights, we are able to see how the two sites’ conversion rates stack up against one another. Thankfully, at least for the sake of this analysis, the conversion funnels of the two sites are nearly identical. A visitor arrives to either site, checks out a project that they may be interested in, chooses how much they would like to contribute, and then completes their pledge. As you can see above, the terminology is slightly different between the two sites (Kickstarter uses “Pledge” and Indiegogo uses “Contribute”) but besides that there is little difference between the conversion process. Please note that the above funnels represent the aggregated conversion data from January to September, 2013.

So how do they compare? The most striking difference is the rate of visitors that reach a project page. This may be surprising to those who have visited both sites considering the layout and presentation of projects available to fund are almost identical.Conversion Funnel Step 2 This leads me to believe that there are other reasons for the first step in Kickstarter’s conversion funnel to be 28% higher than their closest competitor.

One of the most reasonable assumptions is relevance and optimization through the proper use of data trends. Not only does Kickstarter see double the traffic of Indiegogo, but they are significantly more sophisticated when it comes to tagging every single step of the way (through the use of URL parameters) in the visitor’s path to purchase. From this we can infer that Kickstarter leverages their data to include the highly relevant projects on their homepage that can expect to receive the highest click through rate. Another explanation is that Indiegogo redesigned their site in the past year to something that more closely resembles Kickstarter.

Conversion Funnel Step 1 Comparison Conversion Funnel Step 3

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by bigconcepts

Big-Concepts is a rewards crowdfunding platform for creative people and small business. Using social media to reach out to people who believe in you and your concepts. Game developers, fashion designers, artist, new technology, inventions, film makers, musicians and business owners are a few of the categories who typically receive significant funding from effective crowdfunding campaigns.

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