We always encourage project creators to think about their funding targets in terms of small milestones. With our data set of successfully funded projects, we’ve seen that there is a definite curve in terms of the closer you get towards your goal.

Social proof is a powerful concept. Out of the 190 projects that have succeeded and 546 that launched, here’s a breakdown of the likelihood of success. 

All projects on Experiment have a 40% success rate right out of the gate, but this percent goes up as you get closer to your goal. Even reaching the first 10% of your funding target brings your chance of success up to 65%. By the time you reach 40% of your funding target, you’re looking at a 92% chance of meeting your goal.

For one, this illustrates the importance of chunking up your fundraising strategy. Instead of thinking about “How do I reach 100% of my funding target?”, instead, think about “How can I get to 10% as quickly as possible?”. This is much more doable, and increases your chances of ultimately meeting your goal.

Compared to a grant, your chances of being successful can continually increase!