Crowdfunding is a method of raising funds from a large number of people, usually via the internet. It’s a relatively new idea, but it’s grown in popularity in recent years.
There are several types of crowdfunding, the most common of which is reward-based crowdfunding. People who donate to your campaign with this type of crowdfunding receive a reward, such as a product or service, in exchange for their donation.
Though funding is almost always the primary goal of a crowdfunding campaign, it can also be an excellent way to gain visibility, validate your business, grow your customer base, and other benefits. Crowdfunding has the advantage of being a low-risk way to raise funds. Unlike loans, you are not required to repay your donors. And, if your campaign fails, you will not lose any money.
Finally, crowdfunding is a fantastic way to gain community support for your organization. You can build a base of loyal supporters who can help promote your work by involving potential donors in your fundraising efforts.
So, before you launch a crowdfunding campaign, do your research and select the best platform for your organization. There are numerous crowdfunding platforms available, each with its own set of advantages and disadvantages.
Choosing the right platform is important because of the following factors:
1. The size and scope of your campaign:
Some crowdfunding platforms are better suited to small, local campaigns, whereas others are better suited to large, national campaigns. Make sure to select a platform that is appropriate for the size and scope of your campaign.
2. The nature of your organization:
Some crowdfunding platforms cater to charities, while others to businesses or individuals. Choose a platform that is appropriate for the type of organization you are.
3. Your goals:
What do you hope to accomplish with your crowdfunding campaign? Choose a platform that will assist you in achieving your specific objectives.
4. Your financial situation:
Some crowdfunding platforms charge fees, while others are completely free to use. Make sure to select a platform that fits your budget.
5. Your timetable:
Some crowdfunding campaigns last months, while others last only a few weeks or days. Make sure to pick a platform that works with your schedule. After taking into account all of these factors, you should be able to narrow down your choices and select the best crowdfunding platform for your organization.
Apart from the above points, you need to be careful while choosing the right platform for yourself as different platforms deal with different niches. So, lets check out some of the crowdfunding platforms as per their expertise.
Kickstarter – Crowdfunds for Creative Projects
It is a globally recognized platform which specializes in creative projects. Kickstarter was created as a platform for artists, designers, makers, musicians, and other creative individuals worldwide. It is proud to be the only platform dedicated entirely to fostering community around creative projects.
Indiegogo – Crowdfunds For Consumer Electronics
Indiegogo is a crowdfunding platform that allows people to raise funds especially for consumer electronics. This includes everything from smart home, kitchen, automobile, traveling etc books to inventing new technologies and starting businesses.
GadgetAny – Crowdfunds For Tech Gadgets
GadgetAny is a community of 100,000 tech enthusiasts. You can use GadgetAny to promote your campaign to a large number of people who are only interested in your tech category. Also, GadgetAny boasts about multiplying the number of backers within a very short span of time on the back of its large pool of tech-loving community members.
However, your project should have a clear end goal and a well-planned strategy for getting there