![]() The money which is raised from these efforts cannot be added to the online campaign because businesses are not allowed to pledge these funds on their own. This might include raffles, silent auctions, or even door-to-door efforts. Many companies will hold fundraising events outside of Kickstarter to help supplement a campaign. You cannot pledge toward your own project. Manufacturing costs and other production-related expenses must also be fully realized to avoid similar delays like the Coolest Cooler have encountered.ģ. For companies that are running on tight margins, these fees must be taken into account before the crowdfunding campaign ever begins. Payment processing fees of up to 3% can also cut into your funds. Kickstarter will take 5% of all the cash that is raised as a commission for being able to crowdfund on the site. Should your goal not be met, then you receive nothing from the pledges and those who donated to your campaign are not charged anything.Ģ. If you want to receive your crowdfunding cash from Kickstarter, then you must meet your funding goal. You are even allowed to purchase a domain name that redirects to your Kickstarter campaign and embed it onto your own website if you wish. You’ll receive up-to-date statistics, be able to communicate with all supporters with ease, and be able to promote your campaign in multiple ways. When you take a campaign live, it’s easy to keep track of what is happening with it. ![]() Kickstarter offers an interface that is easy to use. This means all creators are able to keep 100% of their ownership share when representing their work.ħ. Kickstarter does not take an equity share of your campaign as part of the commission process. There is no transfer of ownership of your product, service, or idea. It’s useful to take advantage of this opportunity because the staff of this crowdfunding platform can give you insights that may make your campaign more likely to succeed.Ħ. That restriction has been lifted somewhat, but is still available for companies and individuals to use. In the past, Kickstarter required all campaigns to be reviewed for approval. Kickstarter will provide you with a personal review. That’s good news for the 55% of campaigns that currently do not meet their funding goals.ĥ. There are no upfront charges to be on this platform that you need to worry about. If you don’t get your project fully funded on Kickstarter, then the only costs you’ll face are the ones you’ve generated internally to create and market the campaign. There are deadlines that must be met and these can be used to your advantage, especially if you are close to a fundraising goal and are looking for a little extra help to get over the top. This means you don’t have to worry about extending your fundraising efforts for an indefinite period of time. The longest a campaign is allowed to currently run on Kickstarter is 90 days. Fundraising periods are kept rather short. Quirky and innovative campaigns can generate a lot of free press when they get noticed, which can help grow a brand even if the crowdfunding effort isn’t eventually successful.ģ. Your campaign can generate a lot of attention for free.Ī number of tech magazines, online publications, and individuals all browse through Kickstarter on a regular basis to see what new campaigns have become active. ![]() ![]() This means creators and supporters seek each other out when there is the potential for success to ensure that goals can be met.Ģ. Although there are no official numbers, it is estimated that 9 out of 10 campaigns that can reach a 25% funding level at some point will actually meet or exceed their funding goal. It doesn’t take much for people to want to unlock the potential of a Kickstarter campaign. Should you be using this platform to raise money for your next project? Here are the pros and cons of Kickstarter to consider. There are also many stories of failure which have come from this crowdfunding platform where months of planning and effort resulted in zero funds being transferred. There are many success stories that have come from Kickstarter in recent months where millions of dollars have been raised. ![]()
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