Choosing the Right Crowdfunding Platform: Should You Use Kickstarter or Indiegogo?
When launching a new product or project, many creators find themselves at a crossroads: should they use Kickstarter, Indiegogo, or perhaps both platforms to raise funds? Choosing the appropriate crowdfunding platform is a crucial decision, as it can significantly impact the success of your campaign. In this article, we will explore the pros and cons of each platform, discuss the importance of focus, and provide guidance on how to make the best choice for your project.
The Importance of Focusing on One Platform
It is generally more advantageous to focus all your energy and resources on marketing a single project on one platform. Splitting your efforts across two platforms can dilute your audience, resulting in lower chances of success on both fronts. However, if a campaign on one platform is highly successful, you can consider launching a similar campaign on the other platform at a later date. However, it is strongly recommended not to run campaigns simultaneously on both platforms.
Kickstarter and Indiegogo: A Comparative Analysis
Kickstarter is a well-regarded crowdfunding platform that specializes in pre-order or funding-based campaigns. It has established itself as a go-to platform for creative projects, including films, music, technology, and arts. Here are some key points about Kickstarter:
Specific Campaign Period: Kickstarter campaigns have a clear start and end date, which can increase urgency and motivation for potential backers. Exclusive Arrangement: Kickstarter requires exclusivity, meaning backers can only support the project through Kickstarter and cannot be offered the same deal elsewhere. Profit-sharing: Any profit made from the project after the campaign must be shared with Kickstarter.Indiegogo, on the other hand, is a more flexible crowdfunding platform that caters to a wide range of projects, including businesses, organizations, and nonprofits. Here are some key points about Indiegogo:
No Title Template: Indiegogo does not enforce a title template, allowing for a more creative campaign description. Flex Period: Indiegogo offers a flexible fundraising period, which can provide more time to reach your fundraising goal. No Profit-sharing: Indiegogo does not take a cut of the profits, making it a more straightforward option for creating a campaign.Choosing the Right Platform for Your Project
Deciding between Kickstarter and Indiegogo ultimately depends on your specific project and target audience. Here are some factors to consider:
Target Audience and Niche
The audience and market niche of your project can help determine which platform is more suitable. If your project aligns more closely with the creative and artistic community, Kickstarter might be the better choice. For projects that require more time to develop or that are business-oriented, Indiegogo may be the more appropriate option.
Location and Legal Requirements
Understanding the legal and regulatory requirements in your location can significantly impact your decision. Some platforms have specific guidelines or restrictions based on the country or region you operate in. For example, Kickstarter is more popular in the United States, while Indiegogo has a broader global footprint, serving over 230 countries and territories.
Previous Success and Campaign History
It is essential to look at the success rates and case studies of previous campaigns on each platform. Analyze the types of projects that have performed well on each platform and see if they align with your project's goals and objectives.
Conclusion and Final Thoughts
In summary, focusing on one crowdfunding platform is generally a better strategy for increasing your chances of success. However, if an initial campaign on one platform is highly successful, it may be worth considering a follow-up campaign on the other platform. Conduct thorough research and make an informed decision based on your project's unique characteristics, target audience, and regulatory requirements.
By choosing the right platform and executing a well-thought-out campaign, you can effectively raise the necessary funds to bring your project to life.