So the possibilities are you've heard about Kickstarter. You most likely have a respectable manage on the fundamental advantages and disadvantages of this platform as well, however in the interests of being thorough, let's cover our bases and start at the start.
Today, crowdfunding is mostly associated with Kickstarter. It's the most significant crowdfunding platform there is. It's likewise got a bunch of metrics that more than happy to sing its applauds: Kickstarter campaigns have currently raised over US$ 2bln. It's hosted 95,000 active jobs, has a total of 9.7 million backers - which one-third assistance multiple campaigns. Over 100 (132 in fact) have broken the US$ 1 million mark. An additional 2355 campaigns have raised over US$ 100k. Need I go on?
This crowdfunding Goliath boasts 15 project classifications. The movie and video, music and publishing classifications are the most popular (you'll find most of the campaigns registered in among these). However, it's the games, technology and design classifications that thrill backers. These last 3 are the most funded groups on the site (as a side note, Wednesday afternoon is the time when most backers put their hands in their pockets).
Impressed yet? Well, you might be a little less so when you discover that all those remarkable statistics only represent 36.69% of Kickstarter advocates. The rest (over 60%) cannot attain their objectives.
But do not get disheartened, Kickstarter still has a couple of aces up its sleeve. With credibility for releasing whacky, ingenious and down splendid ideal ideas, Kickstarter receives a reasonable little bit of protection from the media and blog writers.
Initially focused solely on independent films (hence the name) Indiegogo started accepting jobs from any classification a year after its launch. Developed to offer more chances to backers than Kickstarter, Indiegogo is generally viewed as a less strict platform. It is available in over 200 nations and offers more classifications (24 vs. Kickstarter's 15). It also provides backers manage over whether they desire fixed (all or absolutely nothing) or flexible (developer gets whatever amount they collect) models.
It might not be winning in the PR stakes. However, Indiegogo certainly has more campaigns than Kickstarter. At any given point it has around 10,000 live campaigns (Kickstarter has 6,000) and hosts an average of 260 new campaigns every day. It also isn't all that fussed with metrics (you'll have a hard time to discover the sort of statistical information Kickstarter enjoys to release), but you will find the odd estimate or three.
If Kickstarter reckons around 37% of its campaigners achieve success, then the digital world puts Indiegogo's success rate someplace between 8-9%. It sounds terrible. However, it does have a few other things going for it. Its flexible financing scheme enables you to obtain the funding without always reaching your goals, plus our successful Indiegogo advocates also inform us that the client assistance is second to none (not something Kickstarter advocates tend to agree with). Contribute to that the fact that promises are non-refundable, so the developer knows exactly just how much they've raised (Kickstarter campaigns tend to drop 5-7% of backers - more on this later), and Indiegogo begins to look like a desirable option.
It's also worth noting that the culture of the various crowdfunding platforms varies somewhat, so it's crucial to comprehend your audience. If they're most likely to go with one platform over another, then you need to take that into consideration. Familiarity types self-confidence, and makes visitors more open up to promising.
So how do you know which platform is most likely to be a much better match for your audience? Usually speaking, you'll tend to find more artists, musicians, filmmakers, geeks and techy gadget makers on Kickstarter. You'll see more small businesses, controversial ideas, NGOs and mass production at Indiegogo.
The demographics between the platforms also differ. Indiegogo has a more female-friendly audience and gets more traffic from Facebook than Kickstarter.
So, before you choose which platform to pick, carefully analyze your project's category, marketing technique, expenses, proper funding schemes, and objectives.
If you want the best advice, or need help setting up your campaigns and making them more effective, we highly recommend that you contact this crowdfunding magazine to help you out. You won't regret it.
Bear in mind that the platform will refrain from doing the task alone and you have to put the work in if you wish to achieve success.