Crowdfunding Sites – Choosing and Using

Despite all the talk about competition and economy, it is safe to say that the present is probably the best time to start and run a business, regardless of the nature of product or the location of the business. Apart from the fact that, governments have woken up to the significance of small and medium businesses especially during turbulent economic times, encouragement has also come in other interesting ways. One such great upshot of technological advancements and the internet has been the crowd-funding concept. Whether you are looking to fund a non-profit organization or start a business based on a unique and pioneering product or service idea, crowd funding is a fantastic platform that would give you the right boost. What started as a small idea with one or two sites has now ballooned into multiple sites and platforms. How then can you choose the best site to give wings to your businesses ideas? How to use crowdfunding to ensure you transform your business dreams to reality? Here are a few tips to help you through the process.

Comprehend what crowdfunding is and isn’t

Before embarking on this journey, it is vital for business aspirants to comprehend the true meaning of crowd-funding. Yes, it is a great way to get your business started or to fund your favorite charity but it certainly isn’t a magic wand that will scare up enough bills to get you off the ground and into the green. As with other marketing techniques, a good marketing strategy, word-of-mouth, clear information on product ideas, target launch dates and future plans for the business should be drafted for the campaign to find the right audience.

Make sure you build a great project profile page with alluring and driving content. Kick off the campaign with people who already know and would be willing to invest in your abilities and ask them to spread the word. Use social media as much as possible to enhance the donor pool. These small but vital tasks will prove to be your greatest aids in garnering enough funding for your project.

Choosing the right site for your crowdfunding campaign

Kickstarter is probably the most popular among crowdfunding sites. However, there are arrays of such websites available today and it is important to know which one will work for your specific project.

Type of project

The primary factor behind your decision should be the nature of your product or project. Websites like Kickstarter, though not announced specifically, tend to work effectively for projects that are based on perceivable products and services, even if the resultant money is to go for charity. Gambitious helps raise funds for gaming projects while Mobcaster is perfect for raising funds for Tv series and pilots. Event specific funds can be raised through EventBrite while CauseVox, Fundly etc, help non-profit organizations. It is better to glance through the site’s current listings and arrive at an informed decision.

Simplicity and Usability

It is necessary to choose a site that is compatible with your technical knowledge. If you lack technical back-up, it is better to choose one that offers a simple and easy mechanism to create profile pages instead of one that needs coding. It is also essential to check if the donor pages are user-friendly (profile and payment pages) and easy to navigate to enable prospective donors to journey through the site quickly.

Security and support

Your businesses ideas and information need to be safe and so do the information of donors. Ensure that the security mechanism of the site is fool-proof. Back-up your decision with testimonials and references where needed. It is also vital to know if the site will help you through technical difficulties without delays and wastage of resources.

Fees and Policies

Every site has a different policy and it is important for you to analyze if they are compatible with your resource availability and business idea. Fee structures including set up fees, processing fees, monthly payments etc, should be analyzed to pick the one that is in line with your budget.

Availability of tools

A good website should not just let you create profile or project page but also help you broaden your reach. Look at those sites which give you the option to reach out to the public and spread the word on your project through social media and networking.

Crowdfunding is a simple and efficient way to kick off your business dreams. The trick is in identifying the right site and using it to your advantage and this website works to help you make the right decision.