A few questions to ask when choosing a crowdfunding platform
Have a clear understanding of what you are raising for and why you believe your friends and family will want to support your cause. A successful campaign has a clear defined purpose and call to action. It will also always start with support from the people closest to you.
- What are the fees associated?
Just because a platform advertises it is free to start a campaign does not mean the platform does not take any money. Make sure to dig in to the fees associated with having a campaign. Every platform will have a processors fee, if they are processing credit cards online. Remember you will want to look into if there are additional monthly fees, or often a % of donations go to platform fees and are deducted from each donation. It may be free to start a campaign, but when donations start coming in you don’t want to suddenly realize 10%+ is going to the platform and processors.
- Is it a KIA or AoN platform?
Does this look like secret code to you? Well let us explain. KIA means Keep it all and it is how GiveSendGo.com runs their platform. The money you raise, you keep. You don’t have to raise a certain goal or achieve a % to be able to transfer your donations to your bank. The money given, is yours. AoN is an All or Nothing platform which means what it says. You either raise all the money you set in your goal or it all donations get sent back to your donors.- On GiveSendGo.com you do have the ability to wait to transfer your donations to your account so if you need to refund a donation it is easy.
Again, many different platforms have many ways of handling your donations. At GiveSendGo the money is donated to YOU so it goes directly into your WePay account (or Stripe if not in US or Canada) and you have full control over your donations and how, when and where they are paid out to you. Stripe campaigns are slightly different as we are operating in foreign countries on those accounts, but the money still will be transferred directly to your bank account when requested.
Hope this helped give you some direction as you investigate. Make sure to continue to check out GiveSendGo.com for all your crowdfunding needs!