Crowdfunding is a hot trending industry for startups and with some most successful stories like Lockitron – gained $2 by launching their own campaign on their own website even after rejection by Kickstarter, The Star Citizen has raised more than $60 million on their own website and Scout raised more than $450. These statistics impressively demonstrate the power of launching personal crowdfunding website. It enables website owner to raise funds for startups by creative ideas of crowd and turn dreams into reality.
Expansion of personal crowdfunding
The most successful and popular players of crowdfunding industry are Kickstarter, Indiegogo and Gofundme. Kickstarter is leading among them with almost 2 billion dollars of pledged amount and over 85,000 successfully funded project. Though there are also some disadvantages of such 3rd party crowdfunding websites so that a unique concept is raised in this industry called independent or personalized crowdfunding. Let’s have a quick look up at some drawbacks of 3rd party crowdfunding.
Drawbacks of third party crowdfunding websites
Costly paid advertising
Almost all crowdfunding campaign owners invest millions of paid advertising using social media platforms such as Twitter, Facebook , Google Adwords that are directing towards successful campaigns. So, such third party crowdfunding websites is not playing any major role, they are just give a platform. Moreover, even after paying heavy fees to these 3rd party websites, we have to work too much hard by using our skill to make camping successful.
Step by step as crowdfunding industry is developing which brings lots of advertising and digital marketing agencies to promote campaigns. Agencieslike Kickrank, Funded Today and so forth which takes a shot at a commission premise, they utilize their own cash on promoting yet take some measure of fees say 35% of everything raised. A large portion of the campaign owners contact crowdfunding agencies to make their campaign successful, yet however if they cannot convert them into a successful campaign, you have to left with dead campaign by wasting excessive amount of money and time.
Stolen Of your creative Idea in crowd
Some current companies which are backed with powerful investors and they have already money behind them utilize several popular 3rd party crowdfunding websites like Kickstarter to recognize their product-market fit and other side lots of startups are trying to do same thing every day on such popular 3rd party platforms. Those campaign are backed with investors and they can even launch own crowdfunding website also. It attacks some major crowdfunding campaigns. As a result there are lots of chances that your creative idea is lost or copied by the crowd.
According to the statistics, on 3rd party crowdfunding websites you have 9 out of 10 contributions at your campaign come from your own promotion efforts. It means 90% of crowd come from your marketing effort and the creativity of your project and remaining only 10% comes from 3rd party platforms to your campaign page. So it sounds that even after paying heave fees to such websites, we gain only 10% success. Now let’s discuss how beneficial and cost effective is developing independent crowdfunding website.
Main advantages of personal crowdfunding website:
Save membership fees
Of course, you can save certain amount of percentage as commission by launching your own crowdfunding campaign on your own Kickstarter Clone website. This amount may a small but it becomes a big amount by add up a lot considering a high earning crowdfunding campaign. Personal crowdfunding campaign enables project creators to boost funds independently which provide various payment options such as – commission-based licenses, on-time fees or set-up expenses.
By establishing a crowdfunding campaign on your own Kickstarter Clone platform instead of 3rd party you can emphasize your business brand by keeping the project all about you. Your crowdfunding website will become main source of content regarding your business and campaign.
Adjustable Time Duration
You can set your own particular time periods for your campaign as much your need. It uproots the need to confine your project to shorter periods like 30 to 60 days. With this you have an opportunity to offer pre-orders, achieve stretch goals, and offer limited rewards and so on.
Access to detailed information about backer
Crowdfunding script like Fundraiser – An innovative Kickstarter Clone script enables you to launch a project on your own crowdfunding website and manage the data you receive. By getting this data you have ultimate access of more backer information compare to other popular crowdfunding platform. For example – Kickstarter limits the amount of information provided to project creators about backers for privacy reason.
Due to these and lot more other advantages of personalize crowdfunding business model, you can easily fulfill your dream project into reality with the help your launching your own crowdfunding platoform like Kickstarter Clone website.