If you’re already in the startup system, then you already know the magic of crowdfunding. Crowdfunding has always been an important topic, and the growth of crowdfunding platforms help give it a new meaning.
So now the question is “Should you make another crowdfunding platform?”. Well if you know the crowdfunding market and you’re ambitious, then you’re ready to go. In this post, we’ll help you understand the correct methods needed to make your platform or new startup idea because successful.
Types of Crowdfunding Software Development
White Label CrowdFunding
White label crowdfunding campaigns are the easiest way to create your own crowdfunding platform. If you don’t know what “White label” means, its when a company creates a service or product, but then they are transferred to other companies as intellectual property.
Open Sourced Crowdfunding Comments
Also, you can use open sourced crowdfunding platforms out there. However, creating a crowdfunding platform with open sourced technology means a lot of bug-fixing and tweaking. So you should choose your open sourced crowdfunding platform if you have the skills to do so, or you can hire a developer to assist you.
WordPress Crowdfunding Platform
One of the ways to have a great crowdfunding software development platform is by using WordPress. There is a myriad of WordPress tools that can help you start.
All you have to do is find and hire an expert developer and then customize it based on your needs. Here are some WordPress themes that are available:
- Funding Press
- Ignition Deck
- Startup Idea Crowdfunding WP
How to Improve Your Crowdfunding Software Development Platform
Focus on Funding or Users
Software startups have a hard time being crowdfunded for a multitude of reasons. In order to get the most out of your campaign, you have to think about your primary objective: users or funding.
Most of the apps are analyzed based on user metrics: more engagement, more users, This matters for all ads, potential acquisitions, and venture capital. For these companies, exposure and exponential growth are all of the startup needs and funding is an additional bonus – so you should treat it as such.
Low campaign goals usually mean virtually assured success; that is small reward tiers, and free publicity makes it easier for backers to justify working with you.
However, most app startups experience failure due to aiming for a large user base or to gain funding simultaneously. It is a crowdfunding though, and as a software startup, there are some beneficial ways to help start up your company.
Early Beta Access
Most Kickstarters and crowdfund backers are early adopters that want to know everything firsthand. Startups that have a legitimate standalone value can gain a lot from this.
For instance, Minimum was launched on Indiegogo in March 2013. After launching their campaign on the platform, it was an innovative Android keyboard that helps users save space on the smartphone screen. Its launch was a success and raised over $87,354 with around 9,000 backers who like its crowdfunding software development.
Since Minimum has a $5 access reward, Minimum has managed to raise about $40k and gains and a large user base before launching it. This is a good strategy for similar startups and helps relieved a legitimate pain point.
To conclude, crowdfunding software development can be a huge benefit to your business. Before starting, make sure that your IT team is ready to assist you so that it can be a success. By having a good plan, you’ll be able to have a functional app that will be enjoyed by millions of users online.