Considering Crowdfunding? Meet the Backers. / by Benjamin Olivas

Consumer tech companies considering crowdfunding should host their project on Kickstarter and target males between 18 and 34 on social media, according to a new survey by FortyThree.
Crowdfunding is booming with an estimated $34 billion raised last year, up nearly sixfold from two years ago. It’s no surprise that a wide variety of companies, both big and small, are considering jumping on the crowdfunding bandwagon. Businesses in the technology and gaming industries, in particular, have a lot to gain from crowdfunding.
If your company is one of them, it’s important to familiarize yourself with the backer community. To get a better sense of backers’ motivations, buying habits and more, FortyThree surveyed 500 people who have contributed money to at least one crowdfunding project and focused on those who funded a project specifically related to technology or gaming.
According to the survey results, the vast majority of technology and gaming backers—90% to be exact—funded projects on Kickstarter. Surprisingly, half of respondents reported that the crowdfunding video had only “some” influence on their decision to fund a technology or gaming project, whereas 21% said the video had “little” influence.
Backers also said that social media played a major role in driving them to a crowdfunding project. Eighty-two percent reported hearing about the technology or gaming project(s) they eventually funded via social platforms.
Here is a detailed breakdown of our findings:

  • Target Practice: The majority (76%) of crowdfunding backers for technology and gaming projects are men. Of that demographic, 84% are between the ages of 18 and 34.
  • Tell Me More: The top three places where technology and gaming backers find out about crowdfunding projects are social media (82%), friends (42%) and online news sites (36%).
  •  Repeat Customers: Most backers (78%) reported receiving the technology or gaming product/service they funded and 66% said they were satisfied with the purchase. In addition, 32% said they would purchase it again.
  •  Credibility is Key: The majority (87%) of technology and gaming backers said the amount already raised by a crowdfunding project has influenced their decision to fund one in the past. Nearly half also said the founders’ prior experience in the industry plays an important role.

Read all of the survey responses. 

The major takeaway here is if you’re thinking about launching a crowdfunding project related to technology or gaming, Kickstarter is a great platform for reaching men ages 18 to 34 years old. Just make sure to amplify your message on social media.
Source: FortyThree PR surveyed 500 individuals who have backed at least one crowdfunding project