Crowdfunding — Kickstarter Vs Indiegogo: Which One to Choose?

Crowdfunding — Kickstarter Vs Indiegogo: Which One to Choose?
May 03 19:13 2018 Print This Article

So the chances are you’ve already heard out about Kickstarter. You most likely have a pretty good handle on the major pros and cons of this platform as well, but in the interests of being comprehensive, let’s cover our bases and begin at the start.

Kickstarter

Today, crowdfunding is mostly associated with Kickstarter. It’s the biggest crowdfunding platform there is. It’s likewise got a lot of metrics that more than happy to sing its applauds: Kickstarter campaigns have currently raised over US$ 2bln. It’s hosted 95,000 successful jobs, has an overall of 9.7 million backers – of which one-third assistance multiple projects. Over 100 (132 really) have broken the US$ 1 million mark. More than 2355 projects have raised over US$ 100k. Need I go on?

This crowdfunding Goliath boasts 15 project categories. The film and video, music and publishing categories are the most popular (you’ll discover most of the projects registered in among these). However, it’s the games, innovation and style classifications that genuinely delight backers. These last 3 are the most funded groups on the crowdfunding site (as a side note, Wednesday afternoon is the time when most backers put their hands in their pockets).

Impressed yet? Well, you may be a little less so when you learn that all those excellent stats only represent 36.69% of Kickstarter campaigners. The rest (over 60%) fail to attain their objectives.

But do not get discouraged, Kickstarter still has a few aces up its sleeve. With a track record of introducing whacky, innovative and down best wonderful ideas, Kickstarter receives a fair little protection from the media and blog writers.

Indiegogo

kickstarter magazine

At first, focused exclusively on independent films (hence the name) Indiegogo started accepting projects from any category a year after its launch. Developed to provide more opportunities to backers than Kickstarter, Indiegogo is typically perceived as a less rigorous platform. It is offered in over 200 nations and provides more classifications (24 vs. Kickstarter’s 15). It likewise gives backers manage over whether they desire fixed (all or nothing) or versatile (developer gets whatever amount they collect) models.

It might not be winning in the PR stakes, but Indiegogo certainly has many more projects than Kickstarter. At any given point it has around 10,000 live campaigns (Kickstarter has 6,000) and hosts approximately 260 brand-new campaigns every day. It also isn’t all that fussed with metrics (you’ll struggle to find the type of analytical data Kickstarter is happy to publish). However, you will stumble upon the odd estimate or two.

If Kickstarter reckons around 37% of its campaigners are successful, then the digital world puts Indiegogo’s success rate somewhere in between 8-9%. It sounds dreadful, but it does have a few other things going for it. Its versatile funding scheme permits you to get the financing without always reaching your goals, plus our successful Indiegogo campaigners also tell us that the client support is second to none (not something Kickstarter campaigners tend to agree with). Contribute to that the fact that promises are non-refundable, so the creator understands precisely how much they’ve raised (Kickstarter campaigns tend to drop 5-7% of backers – more on this later), and Indiegogo begins to look like an extremely attractive alternative.

It’s likewise worth keeping in mind that the culture of the various crowdfunding platforms differs somewhat, so it’s essential to comprehend your audience. If they’re most likely to opt for one platform over another, then you need to consider that. Familiarity breeds confidence and makes visitors more open up to vowing.

So how do you know which platform is most likely to be a much better match for your audience? Generally speaking, you’ll tend to discover more artists, artists, filmmakers, geeks and techy gadget makers on Kickstarter. You’ll see more small businesses, controversial concepts, NGOs and mass manufacturing at Indiegogo.

The demographics in between the platforms also vary. Indiegogo has a more female-friendly audience and gets more traffic from Facebook than Kickstarter.

So, before you decide which platform to pick, carefully examine your project’s classification, marketing method, expenses, suitable financing plans, and objectives.

Essential to understand

Keep in mind that the platform will not do the job alone and you have to put the effort and work in if you want to succeed. For more information do checkout the Kickstarter Magazine for more tips and tricks on ways to make a successful campaign.

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