Survey Results from New Wefunder InvestorsAugust 29, 2018
We’ve now analyzed a survey of LPPF’s new Wefunder investors, thanks to 313 responses, a 71% rate. Thanks to all for their time!
The survey showed that the money came in “by halves”—54% was from “old contacts”, who knew us before the campaign, 46% from new contacts. Half of the investment came from 94 accredited investors, half from 346 non-accredited investors. We achieved a somewhat better level of diversity with our new contacts: 9% were women, compared with only 3% in our previous investors and nearly 65% had no technical background, also triple the previous level of 20%.
The new people learned of us overwhelmingly from Wefunder. Unfortunately in this campaign we did not succeed in getting significant media coverage, unlike in the 2014 Indiegogo campaign.
In terms of what convinced people to invest, the three videos LPPF made for the Wefunder campaign were key. They were cited by 43% of the investors, with 37% of the total investment, as the primary or sole way they were convinced to invest. This was especially true of the new contacts, with 56% citing the videos: 34% the main video, 19% the How It Works video and 4% the Direct Conversion video. For the old contacts, most of whom were already convinced, 28% cited the videos: 22% cited How It Works and 3% each the other two. So it looks like some of the old contacts did not entirely understand how Focus Fusion works and now they do. For the old contacts, the website was the biggest source of information, cited by 34%, as compared with only 10% of the new.
So, from the survey we conclude that we now have explained our project well, including to non-technical people, but we need more outreach, especially more news stories to reach more folk. The campaign overall was a spectacular success, with money raised at least 90% of the total we could have legally raised. Thanks again to all!