By The Numbers
So, I did this with the last two Crowdfund projects. It's pretty much a report on where we're at and how it's going from a statistical point of view.
As of today, here are the numbers:
Days remaining; 15
Contributions thus far; $15,050
Number of contributors; 88
Contributions from Dartmouth; 58
Contributions from Halifax; 19
Contributions from other areas; 20
Average contribution per; $171
Most popular tier; $75 with 33 backers
$1,000 Tier; 5 backers
$2,500 Tier; 0 backers
Visits to this site; 4,969
So what do the numbers mean?
First, several backers actually contributed more than once; the practice being that they bought into more than one tier so they could give a gift to someone else… which is pretty cool! Additionally, some of these people are serial contributors, returning to the crowd from the previous Brooklyn Warehouse projects; obviously, satisfied customers, if not just people who know a good deal when they see one. They really get what this is all about, and know they are getting a great return with their contribution, in whatever form they decided to participate in and help out with financing this project in good taste.
The second thing that’s obvious is that we are far behind the eight ball in reaching our goal of $50,000 toward the renovations and other costs of Battery Park. Does this mean we won’t finish the project? Will we run out of funds before we can open? Is there a chance these contributors will lose their money in this crazy scheme? Well, that’s not how it works with us. We already have the loans in place to build the beerbar; we just want to pay them down quickly and avoid the long term interest… giving it back to our supporters instead. And its all guaranteed anyway, because you wouldn’t be contributing to a new, stand-alone business with the risk of failure simply because North Brewing and the Brooklyn Warehouse are operating businesses that are backing this project right along with the residence of Dartmouth and Halifax alike, that want to see this happen on Ochterloney.
Thirdly, see the last item on the list? 4,969 visits to this site. That represents 10,171 page views, 41.13% from iPhones, 15.59% from Android devices, 20.44% Windows-based, and 17.68% from MacOSX… whatever that means. People are looking in. There's a lot of interest in seeing this happen.
4,969 visits. Had each one of those translated into just a $10 contribution, we would already be at our goal. Funny how crowdfunding works; but that’s all it would have taken.
Some folks are sitting on the fence. They're thinking about it. Now and then we need to remind them... that's all. And as time runs down on the crowdfund offerings, more and more people come on board.
So, if any of these numbers are starting to make sense to you, consider joining the crowd. Pick out a tier that you are comfortable with and throw some support our way. You won’t regret it. We’re here for the long-haul; and if you’re going to bank some money… what better way than to put it toward great food from chef Mark Gray and awesome beers from Peter & Josh at North Brewing.
I’ll leave you with some more numbers to ponder;
Days remaining; 15
Still need to raise; $34,950
Average needed per day; $2,330
Largest single day contributions to date; $1,750 (twice)
Days with zero contributions… too many.
The idea behind a crowdfund is simple; get a whole bunch of small contributions from a whole bunch of like-minded people, people who are engaged and interested in what the outcome is; whether a new music album, art show, band tour, book publishing… or restaurant renovation. Produce the idea into reality and offer back in-kind value to the contributors. Win-Win.
The underlying mechanism, what actually gave birth to crowdfunding, is the internet and social networks. That’s where crowdfunding or crowdsourcing really shines. It allows those like-minded people to really help in promoting the idea, and the need behind it; you contribute, then you tell two friends, and they tell two friends… and so on, and so on. That’s what made last year's Ice Bucket Challenge take off and be so successful. That’s what made some of the craziest Kickstarter projects fly right off the radar. You.
I suppose that’s where the challenge is for us from this point on. Getting enough of you interested in reaching the goal and inspiring others to join the crowd and really make this happen. Because it easily can. And we want Dartmouth to do it!
We’ve talked about challenges throughout this CF project. The numbers above suggest several that are happening and could happen. For instance, Dartmouth vs. Halifax; Mac vs. Windows; iPhones vs. Androids. Beard vs. no beard…
I dare you to make it all happen.