Beyond the creation and promotion, an important aspect for any campaign is to choose a crowdfunding platform. This can be decisive for your success, even if you don’t believe it. Choosing a platform is a process that must be taken seriously and not be neglected. Therefore, today we’ll tell you 5 tips so you know which platform to choose to run a crowdfunding campaign.

5 tips for choosing a crowdfunding platform

Nowadays, there are more than 1000 crowdfunding platforms on the Internet. Some of them more known and popular than others. With so much to choose from, there are lots of options available. However, not all crowdfunding platforms will adapt to your campaign or the idea behind it. For that reason, you have to know how to choose the platform where you’ll carry out the entire process.

1. Identify what kind of campaign you’ll create

There are large-scale commercial campaigns that seek to finance the creation of a product or service on an international level. And those that seek to finance the previous two but at a local or national level. There are also humanitarian campaigns for social causes. And campaigns on professional or independent projects of a personal level. Identify what type of campaign you’re going to do before anything else.

type crowdfunding campaign platform
The vast majority of ideas have a place in crowdfunding. From personal projects, social causes and financing of products or services.

2. Determine what type of platform is best suited for your campaign

Based on your campaign, think about what kind of platform would be best for you. There are crowdfunding platforms exclusively to finance products and services in great magnitude. There are also crowdfunding platforms only for social, personal and humanitarian aid campaigns. As well as balanced platforms that cover all those aspects.

choose a crowdfunding platform based in needs
Some platforms work under the All-or-Nothing (AON) system and will only deliver the money raised if the goal is met or surpassed. Others use the Keep-it-All (KIA) system and they’ll give you the money raised even if you haven’t reached the goal. Source: Merchant Maverick

3. Evaluate the reach offered by the platform

The most popular crowdfunding platforms offer an almost global reach. Especially for commercial campaigns that seek to distribute themselves around the world. However, this could be more than you need. In less popular and specific crowdfunding platforms there’s less competition and less chances of going unnoticed. Think how much reach you’re looking for.

the reach of a crowdfunding platform
What are you looking for with your idea? There are platforms that accommodate to these conditions. Choose a platform that allows you to get the reach you need. Source: Professionals

4. Check if you can receive money in the currency you need

This is important, make sure that the platform will allow you to receive the money in the currency you need. This of course will depend on the country or region in which you’re located. As the case may be, you might also have to create an account on an international payment platform such as PayPal or Stripe. In case the crowdfunding platform accepts them.

international currency crowdfunding platform
The currency isn’t only important, but also the way in which you’ll receive the money. Therefore, the vast majority of crowdfunding platforms use payment platforms. Source: bit.ua

5. See what the benefits are and weight options

There are crowdfunding platforms that are similar but offer different benefits. For example, some offer advice and guidance for campaign creators. Others offer to help you promote your campaign by putting it on their home page if you raise money. Some will only give you the money if you raise or exceed your collection goal, etcetera. Make a list of options and choose the ideal platform for you.

choose a crowdfunding platform
Never stay with only one option. Check and compare different crowdfunding platforms that suit what you want. Take your time and make your choice. Source: Times Higher Education

The idea of ​​your campaign may be extraordinary and interesting. But if it’s not within a suitable crowdfunding platform, it could go unnoticed and not raise money. Therefore you have to make sure to choose a competent platform that allows you to have a successful campaign. Never rush to choose any platform, look for different options and choose the most appropriate.

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Choose a crowdfunding platform wisely!