But how do you choose the best platform for you? Knowing the various features these two platforms offer can help you decide which is best for you. Learn more about the different aspects of each site.
I always look for an easier way to do things; this is where crowdfunding platforms, Kickstarter and Indiegogo, come into the picture. While I found Kickstarter to be more optimized for selling goods, if you’re looking for a platform to raise charity funds, then Indiegogo might be better for you.
So, the perfect choice will come down to your project needs. Each offers distinct features and benefits, so it’s up to you to decide which will suit your interests well.
In this article, I’ll explain how they work so that you can decide which platform to use when launching your next campaign!
What is Kickstarter, and What Does It Do?
Kickstarter is a money-raising platform that helps people raise funds for their creative projects. First, creators set a financial goal and deadline, and then if people like the project, they can pledge money to help it succeed.
If you have an idea for something with a large market potential (like an app), Kickstarter may be your best bet because it allows you to reach out directly to those interested in supporting your work financially.
What is Indiegogo, And What Does It Do?
Indiegogo is a crowdfunding platform that allows creators to raise money for their projects. The site was founded in 2008 and is now one of the largest crowdfunding sites on the internet.
Indiegogo, originally used as a financing tool for indie films, has since grown to accommodate over 800,000 creative projects. It helps entrepreneurs raise money and provides them with tools to grow their businesses.
Creatives can continue their Campaign after IndieGoGo’s in-demand feature, allowing them extra time to gather money and gain traction.
How to Choose Between the Two Crowdfunding Platforms – Things to Consider
These are two of the most well-known crowdfunding websites. Entrepreneurs and individuals use them to raise money.
Indiegogo is a global platform, while Kickstarter is just for US-based projects. However, both platforms include a wide range of projects so that you can make a choice depending on your project.
Each, however, has its positives and disadvantages. To help you in choosing which platform is more tailored to your needs, we have analyzed the features of both below:
The process of getting registered with each platform differs significantly, and here’s how:
The proposal must be presented clearly, and the description text and video must contain all important project details. Before the campaign goes live, the admin will request revisions if certain things are not highlighted. After projects are submitted, they will be examined for infractions.
Your project’s ability to make money is also examined. Finally, your task will be approved, and a page will be created if it is a good fit for Kickstarter.
There is no approval process here; you only need to gather your campaign materials and start your campaign. A written description and video of your creative project will be required to get started. In addition, the specificity, reason for raising money, and your intent will be needed.
Next, you’ll need to develop a system for perks, a title graphic, and a description. Connecting your social media accounts is advisable, and also your website if you have one.
2. Rules For Campaign
When it comes to being strict, Indiegogo is less strict than Kickstarter. For example, unlike Kickstarter, which does not permit campaigns to offer their supporters financial alternatives, it allows you to locate investors through its website.
In addition to accepting physical donations, Indiegogo also takes fundraising for charitable organizations, political causes, and civic initiatives. Unfortunately, Indiegogo does not allow private or personal cause campaigns.
Since Kickstarter’s primary goal is to promote artists and the arts, it is set on only sponsoring initiatives that further this goal. Therefore, your project must aim to produce something that can be distributed to others.
Such as artwork or any technology, can also include experiences such as music and cinema.
Indiegogo does not hinder campaigns or impose limitations on project developers as Kickstarter does. Anyone can start a campaign with an idea, a financial need, and an active bank account.
Kickstarter requires you to provide a prototype for your idea on the platform to fundraise. This helps convince potential supporters that your idea is real and functional.
A fully developed prototype may not be needed, but it should generally look like your ideal final project and have the same level of quality.
With Indiegogo, however, you don’t need a prototype when you’re just starting. However, you might benefit from having one ready. A prototype enables you to calculate the financing required to sell your product.
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4. Hosting Videos
Creating videos to help get your message across is essential when crowdfunding your project. While Indiegogo uses YouTube and Vimeo, Kickstarter uses its video hosting facility.
An advantage of using a popular platform like YouTube is that it offers excellent marketing opportunities for new customers. That way, you’re guaranteed that many more people will see your project.
As a supporter or pledger on Kickstarter, if the project doesn’t receive enough funding, there won’t be any charges put on your account. However, your payment card will be charged if the project gets successfully financed, and you will get a confirmation email confirming your status as a supporter.
For Indiegogo, all donations or pledges must go through the payment processors to be processed. Credit cards will be immediately charged for pledges made directly through the Indiegogo website.
Donations made via bank account or debit cards will be handled by stripe. In addition, your Indiegogo account will show a successful transaction.
On Indiegogo, you can have exclusive incentives accessed through their direct connection. Creators usually use these to provide discounts, advertise, or thank devoted supporters.
You can use these secret bonuses to boost the momentum of your campaign. While Kickstarter has many methods to reward backers, such as through stretch goals, you won’t have the option to designate secret bonuses on the website.
7. Strength Of Each Category
Most of Kickstarter’s projects are for design, games, and technology. However, it has also been great for video and film projects, music, and publishing.
Indiegogo, on the other hand, excels in mass production, charity purposes, technology, and design.
8. Campaign Days
On both platforms, you can conduct campaigns between one to sixty days. However, keeping your campaign duration between 30 and 40 days is advisable.
The capacity to extend your campaign’s duration is another similarity between both platforms. You can extend the deadline if you start with a 30-day campaign and realize you wouldn’t reach your goal by the set date.
However, you cannot go beyond 60 days from launch.
For Indiegogo, you can only extend your campaign once for 15 days. After that, you cannot extend your campaign anymore; for example, if you add seven days, you cannot add another seven days later.
Only approved campaigns are up for project extensions on Kickstarter. You ask and then wait for a response. You can extend it for more than 15 days. Extensions are only offered in the final week of your campaign.
9. Monthly Visitors
The number of visitors is one of the important factors to consider when choosing a crowdfunding platform. It would help if you looked at how much time people spend on each campaign and how they interact.
Kickstarter has about 25 to 27 million monthly visitors, while Indiegogo has nearly 9 million. The numbers can vary depending on what type of campaigns you’re promoting and your goals for your campaign.
10. Platform Charges
Both crowdfunding platforms take some of the money raised and impose a processing fee. Kickstarter charges 5% of total funds raised, plus a 3-5% payment processing fee. Indiegogo charges 5% of total funds raised, plus a 3% payment processing fee.
Kickstarter won’t charge the 5% fee if you don’t reach your goal. Indiegogo levies 5% on all cash raised, not just the amount you set as your goal. Because of the global nature of Indiegogo, there might be additional fees for international transfers.
11. Options For Funding
Kickstarter uses an all-or-nothing funding approach. If you don’t reach your goal, your money is returned to the backers who funded it.
You will only receive funds from your campaign if enough money is raised to reach your goal. If you decide to host your project on Kickstarter, analyze your workflow and establish reasonable objectives.
Indiegogo offers two ways to fund your project. One is fixed financing which works similarly to Kickstarter’s all-or-nothing model. You set a funding goal; if you reach it, you get the whole money. If you don’t reach your financing target, your backers receive a refund.
However, they also offer flexible financing options that allow you to keep the money if you don’t reach your goal. This form of funding allows you more leeway if you’re anxious about acquiring a goal or if your project needs time to gain traction.
12. Payment Options
Indiegogo accepts many methods from supporters, such as PayPal, credit cards, and apple pay. There was a 28% increase in donations after they added PayPal and credit cards to their platforms.
Supporters having more payment alternatives makes committing to a project and making contributions easier.
As for Kickstarter, there’s only one payment alternative available: stripe. This allows supporters and customers to make pledge payments using credit cards, but it does not offer quick payments like apple pay or android pay.
13. Worldwide Availability
Kickstarter is only available in 18 countries despite having a bigger platform. At the same time, Indiegogo is accessible in more than 200 nations, which means more international availability.
14. Size Of The Platform
With about 2.7 billion dollars received from 11.8 million backers since the company started, Kickstarter has a larger platform. Indiegogo, on the other hand, has a much lesser platform, raising more than 800 dollars from 2008-2015.
15. Media Outreach
Kickstarter receives much more press coverage as opposed to Indiegogo due to the tight quality control image of Kickstarter. This means there are more press coverage prospects for your Kickstarter campaign.
If you’re in the PR business, having your project on Kickstarter increases the likelihood that journalists will respond favorably.
16. Pledgers Information
When a pledger clicks the pay button on Indiegogo, their contact information is available. In comparison, Kickstarter waits until you meet your funding target.
If you want feedback from your backers before the campaign ends, you must run a survey and ask for their information.
So Which One is Better?
Kickstarter and Indiegogo have advantages and disadvantages; the choice is yours to decide which is most important to you and your project. Although Kickstarter has a larger platform and more media recognition, your campaign may be constrained by its fixed financing and restricted product categories.
More categories and advertising data are available on Indiegogo. It all depends on what kind of project you’re planning to create.
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