Crowdfunding has become a new way to get funds for a project or business venture. Startups, companies, artists, nonprofits, etc. most of the sectors nowadays are turning towards crowdfunding for funds. Getting money raised through crowdfunding is not a piece of cake and there is a very fierce competition in the crowdfunding industry.
Though there are many factors which decides the success of the crowdfunding campaign, the most important one has to be choosing the right platform among the various crowdfunding portals. There are many crowd funding portals or platforms which have been created in the recent times. These crowdfunding portals acts as a medium to reach a large number of contributors. Crowdfunding portals also helps in making the campaign look interesting enough to attract as many contributors as possible.
How to choose the crowdfunding portals?
There are many crowdfunding portals available now and some of them specialize in a particular sector whereas there are others which allow funding of any type of project. The biggest question while going for crowdfunding is how to choose between these crowd funding portals.
There are many crowdfunding portals which have different features and specialty. It becomes very important to think thoroughly about the crowdfunding portals before starting the campaign as choosing the wrong crowdfunding portals can lead to failing in reaching the people who could back the project.
The most important thing to do before choosing a crowdfunding portals is to be clear about the expectations from the campaign that is, the amount of money to be raised from the campaign and also the time required to do it. It is also necessary to figure out the type of crowdfunding which will be the best for the campaign and the crowdfunding portals which focuses on that type.
It is advisable to research on the history of that crowd funding portals and see its track record. It is important to know the number of projects the crowdfunding portals have funded and also the ones which have a similar idea. It is also beneficial to go through the failure stories of the crowd funding portals so that an individual can know about its shortcomings.
The next thing to look for while choosing among the crowdfunding portals is their marketing as well as administrative features. It is also beneficial to go for the crowd funding portals which have a good customer service feature as they can be a good guide throughout the campaign.
Also, the help in marketing can help publicize the campaign more and more. The portals having these features can help save a lot of time and take some burden off an individual’s shoulder. The sites having a good social media integration is preferred as this will help share the campaign more easily on the other social media sites.
For new entrepreneurs who are trying to launch their startups or businesses, it is advisable to look through the fees asked by the crowdfunding portals. Usually the fees is 7-8% of the total money raised, but it is advisable to go through the fees section carefully. Choosing a great platform for the campaign is really necessary for its success and devoting some time and hard work will guarantee the success of the campaign.
