Top 5 Crowdfunding Platforms to Launch your Next Campaign
In today’s world, the most crucial decision is to select a crowdfunding platform. The days of face-to-face and over-the-phone fundraising are over; this is the modern era, and your efforts must go beyond these features to ensure the success of your crowdfunding campaign.
Whether it’s a business, non-profit, or a working professional, everyone opts for online fundraising tools to expand the campaign’s reach. What are the specific things to consider while selecting a fundraising platform, though? What makes the finest fundraising initiatives stand out from the rest?
Here is a compiled list of questions you should consider while selecting the best crowdfunding platform. It is always preferable to undertake a thorough study rather than wandering from one platform to another.
What is Crowdfunding?
In modern times, typically via the Internet, crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people.
Crowdfunding your next business idea can be a simple and quick way to raise funds. However, you should know which type of crowdfunding is best for your business and what it includes.
Moving ahead, let’s take a look at the top 5 crowdfunding platforms to launch your next crowdfunding campaign –
Artists, musicians, filmmakers, designers, and other creators can use Kickstarter to get the funding they need to realize their ideas. Since 2009, the company has helped 15 million customers pledge $3.7 billion to sponsor over 143,000 initiatives. Because fundraising is all-or-nothing, you must meet your objective within the time frame allotted, or the money will be refunded to everyone.
What to like about Kickstarter: Kickstarter is an established and one of the best crowdfunding platforms for start-ups to raise money and users are generally very supportive of start-ups.
Price: Launching a project on Kickstarter is free, but if it is funded, Kickstarter deducts a 5% fee from the funds raised. There will also be processing fees, which will range from 3% to 5%.
Indiegogo is one of the best crowdfunding platforms that also acts as a marketplace for new products. It has helped businesses raise more than $1 billion for over 650,000 businesses. You may acquire some seed money and quickly learn if your idea has legs thanks to Indiegogo’s “global network of early adopters”.
You also don’t have to stop raising money with this site at a specific point. There are no fundraising objectives or deadlines. You can also sell stocks, securities, revenue, and even cryptocurrencies.
What to like about Indiegogo: You will always have a passionate audience who will not only fund your project but also be willing to disseminate information about it to their friends and family.
Price: All projects on Indiegogo are subject to a 5% platform fee. You won’t pay a dollar on Indiegogo’s sister platform, GoFundMe if you’re raising money for a good cause.
Moonfunded is one of the best crowdfunding platforms for young entrepreneurs and leaders. It provides crowdfunding services in a variety of categories. Regardless of the subject of your campaign, Moonfunded will make sure that your project reaches its desired objective.
Moonfunded has one of the highest success rates and it always competes and stands out in the market for its impeccable track record and customer retention ability.
What to like about Moonfunded: Moonfunded is a platform that welcomes creativity and innovation. Whatever theme your project has, Moonfunded is receptive to it and finds a way to maximize its reach and help you reach the target audience.
Moreover, it has global investors who are thoroughly enlivened by our idea of preparing the world for the challenges of tomorrow.
Price: Drop a mail at firstname.lastname@example.org to get more information.
Patreon is a website that allows musicians, singers, writers, and others to earn money by selling memberships to their fans. Fans pay you a subscription fee in exchange for exclusive experiences and behind-the-scenes content, generating a significant revenue stream.
WeFunder allows you to raise funds from investors in the range of $50,000 to $50 million. The majority of campaigns take one to three months to achieve their objectives. You’ll be able to raise money from WeFunder’s more than 150,000 investors for everything from breweries and restaurants to software companies and fashion businesses.
What to like about WeFunder: By registering for a free account, you may start generating funding for your next business in under 15 minutes.
Price: It is entirely free to create a profile. There are no transaction or maintenance fees with WeFunder. WeFund charges administrative fees to cover all of its operating costs.
Questions to Ask When Choosing a Crowdfunding Platform
Whatever platform you use, should include some basic tools to assist you in getting started with your campaign quickly. Furthermore, you must evaluate your requirements as well as all of the critical factors that your marketing necessitates.
When selecting from a list of crowdfunding platforms, consider the following questions:
What are your donors’ preferred methods of giving?
You want to connect with your most enthusiastic fans, who are usually located online. Crowdfunding platforms should provide donation buttons, forms for your website, donation pages, and interfaces with popular payment methods (PayPal, Stripe, ApplePay, and so on).
If you have a strong presence on social media platforms like Instagram and Facebook, your fundraising tool must connect seamlessly with these platforms.
If you’re raising funds by the old-fashioned method, such as through the mail or in-person events, you probably don’t need to go overboard with this. Though it’s never a terrible idea to broaden your horizons.
Are your staff tech and design-savvy?
Do you have a group of people working with you? Are they design and tech-savvy, or do they prefer to establish relationships? These are some of the important questions to consider.
Crowdfunding platforms allow you to create your webpage with very little technical expertise or experience, which is a huge benefit if you want to concentrate on other crucial aspects.
This question is less important if you currently have a website or if you have a developer that is eager to design your website from the ground up.
What is the size of your business?
If you’re getting started with your non-profit organization, basic crowdfunding platforms will suffice. However, if you’re part of a larger group with a large number of donations, there are certain things to consider. One of the most efficient strategies to get the most out of your donation base is to manage your list of contacts and data. Consider the size of your business and take steps to meet your needs.
How much time do you have on your hands?
This is one of the most crucial factors to consider when selecting the best fundraising platform for your campaign. It’s as simple as that: the correct tools save time. Donors dislike platforms that are overly difficult and constantly changing.
Complicated platforms can offer the benefit of allowing for more traffic and functionality, but only when you have the time to devote to them. You don’t want to pick a platform that you and your team won’t be able to use.
What tools do you already have on hand?
Nothing is more frustrating than attempting to get all of your numerous applications, programs, and tools to connect, so check to see whether the crowdfunding platforms you’re considering will allow you to do so.
Some of the systems that sync with what you’re already using include Google Calendar, QuickBooks, Salesforce, and MailChimp.
Consider the tools you’ll be using in the future as you consider this question. When you dole out an exciting new enterprise, you want your platform to be on your side.
Other key elements to think about while selecting a crowdfunding platform include:
- Fundraiser category
- Platform fee
- Payment methods
- Professional assistance
- Success stories of the platform
You must first register and create a profile before using a crowdfunding site. After that, you can create your fundraising campaign or page, where you can share your story about why you’re raising money and what you need it for, establish a fundraising goal, and start raising money.
Depending on the type of crowdfunding platform you use, you can start collecting funds in as little as a few days.