There is a big requirement to change the way to get fund for new projects. The global crowdfunding platform is the only source to bring innovative projects to life. Such platforms are not only help entrepreneurs to collect funds to their projects but also generate a huge revenue for itself as a business. The exceptional and most successful business models such as Indiegogo, Kickstarter and CircleUp has encouraged entrepreneurs to develop fundraising or crowdfunding platform – A powerful Kickstarter Clone website.
If you are planning to launch a fundraising or crowdfunding website, you have to keep in mind the business model of a Kickstarter Clone website and acquire how these platforms are potential to earn money.
Business Model of Crowdfunding Platform
Being a crowdfunding portal such as Kickstarter Clone, your website must capable to provide a platform for creative audience who are in need of money to bring their project to real life and those who are ready to support a project for several rewards by the creator.
Any user who has a creative idea is able to list his project on the website complying with the terms and conditions of website. If investors are interested for any project, they can contribute with at least minimum price. The funding amount is decided by the project creator.
As the crowdfunding websites connects investors with entrepreneurs, all financial transaction of projects funding is ended at the interface of website itself. Website admin can keep a certain amount of percentage funded for each project which can reach its total funding goal. Listing a project on Kickstarter Clone website must be free of cost.
Advantages for project creators
The presentation of project plays vital role in the success of your crowdfunding campaign in the website. The crowdfunding website must contain some unique features for project creators so that they are able to develop an impressive showcase of their particular project. Let’s have a look of them:
Making a several handbooks for specific topics is very helpful to users understand the entire process and make a successful project. It’s a guide tool with all extensive information and must be added to your Kickstarter Clone website.
Making a new project
Let’s see what are the important points needed to make a user-friendly and feature-rich project addition section:
- Project categories with subcategories
- Project title and location of project
- Project image, blurb
- Funding duration & funding goal
- Enable project creators to give rewards to backers
- Project video, description, and risk & challenges.
- Enable project creators to showcase their profile along with the project containing biography, website etc.
- Make a way of verified entrepreneur account by email or phone number.
- Entrepreneurs should able to preview of their project before make it publish.
Your crowdfunding website can be more user-friendly if you provide help section apart from all above features. This section should contain descriptive expiation with example to make an awesome project.NCryptedKunal@vnc2015
Features for Investors
As a Kickstarter Clone website is made by both backers and entrepreneurs, you crowdfunding platform must have some great features for investors as well.
Video on Project page
Every project page must contain a deo that is quite useful for investors to have idea about project potentiality and check the actual work being done for a project.
Before making a pledge for any project, investors must able to communicate with the project creator or entrepreneur.
Report a project
Investors of your crowdfunding website must able to report spam for projects that make violations for intellectual propery and break community policy and guidelines.
This feature make your website more genuine and increase trust level to the audience.
Providing reminders to the investors is another awesome feature. These reminders can be in the form of e-mails for investment in new projects of their favorite category or project creator.
Back a project
The key feature which make the crowdfunding website more profitable is backing a project. A streamline payment method must be integrated for investors to make a successful monetary transaction.
The crowdfunding website must pick some projects to give them highlight. The wight-age for any particular project is based on its unique idea, concept or innovative design. By providing these projects special appearance to the homepage, website owner can boost traffic and additional revenue as we
You must keep in mind below some important points to make a secure payment procedure:
- Credit/ debit card of investor must not be chrged until a project is funded successfully.
- Do not charge any tax or additional charges from investors.
- Provide rewards on the payment page to investors so that they are clear about payment.
It’s a really helpful way to shortlist a favorite projects by star or heart icon so that investors are enable to look at favorite projects directly at his dashboard even after project funding has reached its goal.
The blog is evergreen source to invite more and more users to your crowd-funding website. The update blogs with useful, industry relevant and unique posts with social media links helps to motivate more viewers and leads to more user interaction.
Mobile app platform
It is strongly recommend to develop a mobile app for your Kickstarter Clone website to beat your other competitors. Launch an android or iPhone app that can be accessed by users on the go and projects can be funded through the app easily.
How NCrypted can help you?
Fundraiser is a feature-rich and customized crowdfunding script developed by NCrypted which allows you to start your own crowdfunding website similar to Kickstarter, Indiegogo, and SecondMarket.
Major features of Fundraiser
- Strong Crowdfunding Platform
- Custom Build
- Unlimited Categories
- Rich-text CMS
- Real-time funding Progress Bar
- Social Media Integration
- Smart Search
The fundraising or crowdfunding business model is not new these days, but still this concept is in the nascent stage in many countries. This is a reason why crowdfunding script is always in hot trend to launch their own Kickstarter Clone website.