It turns out that the failure rate was about the same across all 15 categories on the platform, and most failures came from campaigns attempting to raise $1,000 or less. The most successful were campaigns attempting to raise between $10,000 and $50,000.
Even if a project failed, 73% of backers felt good enough about the process to want to back another project. That said, just 19% said that they would back the same creator whose project failed.
For those projects that just can't come to fruition, Kickstarter has a number of suggestions:
- Explain to backers what work has been done, how funds were used, and what stopped them from finishing
- Demonstrate that you’ve used funds appropriately and have made every reasonable effort to complete the project as promised
- If there’s money left over, offer to return any remaining funds to backers who have not received their reward, or explain how those funds will be used to complete the project in some alternate form.