Kickstarter or Indiegogo – Which One Should You Go With for Crowdfunding?
Crowdfunding has become extremely popular with new entrepreneurs, especially in these tough economic times when it has become tougher to gather funds for even small investments. Luckily, there are crowdfunding websites available today that have been set up to provide entrepreneurs and potential investors with the ideal launchpad to release their products or establish their ventures. Kickstarter and Indiegogo are two of the best crowdfunding sites out there which promote crowd-funding that is donation-based. There is a long-standing debate on which one is the better site, and the following points can be helpful for you to know which one you should go for.
Acceptance of Projects
Kickstarter only finances projects that are creative in nature, such as videos, music, films, journalism, comics, stage shows etc. On the other hand, Indiegogo does not have any preferences with the projects. It accepts every type of project without any type of restriction. It offers a lot of flexibility in terms of accepting and releasing various project ideas.
Project Fees
Kick Starter tends to charge a fee of 5% for projects which receive funds successfully. But entrepreneurs do not get anything in case their funding fails to meet the specified limit by even a few bucks. Indie Go Go charges a fee of 4% for projects which receive funds successfully and a higher fee of 9% for those that fail to meet the limit.
All or nothing model
Kick Starter maintains it security by following an ‘all or nothing’ business model. This means you cannot get any funds if you fail to meet the deadline. But Indie Go Go proves to be of the best crowdfunding sites as it does not follow such a model. Although this measure bypasses the urgency to gather funds, it proves to be useful in some cases.
Success rate
Of the two crowdfunding websites, Kick Starter enjoys a higher success rate of around 43%. But it has less total number of campaigns, slightly more than 46,000. Indiegogo has a reported success rate of about 10% but it has more than 92,000 campaigns due to its flexible policies in project funding.
User Traffic
Kickstarter has better traffic and more number of users than Indie Go Go. The moderate user traffic of the latter is believed to be a result of its financing strategies.
Considered from varied angles, Kickstarter seems to be more dependable, secure and popular. However, Indiegogo is also beneficial due to its better strategies, features, special algorithms and easier accessibility across the globe.
Keywords: Kickstarter, Indiegogo, Crowdfunding, crowdfunding websites, best crowdfunding sites
