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Home » 5 Tips for Building a Crowdfunding Portal

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Crowdfunding has been made convenient, fast, and secure with the integration of technology. Traditionally, it was very difficult for entrepreneurs to virtually present their work and get funded from a plethora of resources.

However, today startups employ crowdfunding portals to collect money. It has been a successful way of starting off business ventures. Besides, many non-profit organizations and businesses can ask for funds while being short on cash.

Below are some of the tips for building an excellent crowdfunding platform. These are based on our personal experience with clients. We have recently developed kulafunds (a crowdfunding web app) which you can check here.

1. Choose the Crowdfunding Portal:

Crowdfunding is growing on a massive scale. According to Massolution’s report crowdfunding portals received $16.2 bn in 2014 alone. Nonetheless, the nature of the recipient projects has remained diverse. Therefore, it is important to understand the type of portal you want to use. It should suit your idea.

Here are some popular forms of crowdfunding portals.

  1. Donation Funding: People donate for a cause. There is no return on investment. It is meant for help.
  2. Reward Funding: In reward funding, people get some perks or benefits out of the project they invest it. However, 100%ownership belongs to the person who is starting the project.
  3. Equity Funding: In this sort of crowdfunding, investors get to hold shares in the project. It is just like reward funding but the ownership gets divided among contributors.

Figure out for yourself in what form you want to get money.

2. Get the Help of Experts:

You can opt for building portal yourself from scratch or outsource the job. In either case, it is important to get the expert developers on board. Building the best functioning portal requires time, effort, and, knowledge. So, hire a team that knows its craft.

3. Select Payment Methods:

How do you want to get paid? The answer to this question depends on the audience(territory and background wise). You can integrate different methods of payment such as bank wires, credit cards, or PayPal. Having diverse options will create ease for funding parties. Subsequently, you will get more money.

4. Design the Landing Page:

The landing page should be designed for an excellent user experience. It should look professional and real. Be transparent about what you will do with the money. Moreover, you can list FAQS (Frequently asked questions) that might pop up in people’s minds. Remember, landing page of the crowdfunding portal is your first impression on the audience. Don’t make it look spoofy.

5. Make it Secure:

Getting money from people is difficult. Once you took it out, make sure it reaches you. Crowdfunding portals are vulnerable to online hacks. Therefore, you should employ every possible strategy to minimize the risk. Hire reputed and trusted developers. Build firewalls and make your platform secure from all sides.

How can Vizz Team Help You?

Vizz web solutions has been around for the past 10 years. We have expertise in building diversified software solutions for individuals and businesses. The list of our happy clients is growing day in and day out. We have ventured into building crowdfunding portals as well. You can also avail our services in this regard. Get in touch and let us know your idea so we can make it a reality.

Conclusion:

Crowdfunding has a bright future. Nevertheless, the competition is becoming tough with more individuals coming for this. New startups have to find their competitive edge in order to successfully raise money. Having an excellent and genuine crowdfunding portal can give you one up over the others. Hence build your strategy based on the tips mentioned in this article. Essentially, these will give new life to fundraising.

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