Picking the perfect crowdfunding platform can feel like a daunting task. Especially these days, since there are hundreds of new crowdfunding platforms in India offering crowdfunding services for various types of initiatives. The first step is understanding your own project, the purpose of raising funds, how you’re going to use the funds you collect, and how much time you need. Once you have the basic details of your own fundraiser, you need to go through a few steps to know which platform is ideal for your needs. So we at Impact Guru’s crowdfunding India platform have listed out a seven-step process to help decide which platform can bring you success:
Categorize your fundraiser
In India, and in fact anywhere at all, you can find crowdfunding platforms that are specific to your needs. There are medical crowdfunding platforms, start up crowdfunding, art crowdfunding, education crowdfunding, personal crowdfunding, and so many more categories. Put your initiative into one of those categories, and narrow your search to platforms that offer fundraising for your initiative. That said, there are several crowdfunding platform like Impact Guru, that run campaigns for multiple categories as well.
Determine a target audience
Understanding your target audience will help you decide which crowdfunding platform to go for. For instance, if you’re raising funds for an NGO or nonprofit initiative, you’d look for platforms that have experience in running campaigns for nonprofits. This is an important step because the platform you chose will already have a network of donors who are inclined to donate to specific causes. Picking a platform accordingly will help you reach your target audience.
Review the past success of various platforms
WIth new crowdfunding websites coming up every day, you might want to do a background study of them before making a decision. Look for their experience in terms of number of years, funds raised, the number of campaigns they’ve run, their collaborations etc. In addition, you may even get personal feedback from someone who’s used that website’s crowdfunding services.
Compare the platform fees of various crowdfunding websites
Certain websites have a fee, while other allow you to raise funds for free. Then there are some that offer added benefits of boosting and strategizing your campaigns with you for a minimal fee. So see what suits your needs best, and the platform that has the lowest fees so that you can keep majority of the funds you raise.
Pick a customer friendly and flexible platform
Crowdfunding platforms like Impact Guru have a 24 hour customer service helpline, who will be able to guide you through any problems you face while fundraising.
We hope these steps help you chose the perfect crowdfunding India platform for your fundraising initiative.