Make sure that the Idea is Unique
You can create several identical projects and succeed in many fields. Nevertheless, crowdfunding doesn’t give this opportunity. Therefore, if you want to create a platform for the development of creative projects, you’ll never outmatch Kickstarter. Why? It’s world-famous and time-tested.
Define the Investor Revenue Model
Crowdfunding is built around different investor revenue models. You should choose the model that is more about keeping with the target audience’s needs and preferences. The most common models are based on:
• equities;
• loans;
• rewards;
• donations.
The revenue model has an impact on the platform functions and even on its design. That is why the choice of a concept has to be well-considered.
Provide a Comfortable Investment Cycle
For the most part, crowdfunding platforms receive a lot of complaints that there’s a lack of investors on the project. Startup owners don’t know that in fact, this platform doesn’t imply the project marketing.
However, you can help the situation in the development stage. To avoid conflicts in the future, you should allow startupers to place the advertisement related to the fund-raising campaign now.
Besides, arrange for the placement of articles and news related to the projects. This will not only help startupers but also provide a constant influx of new clients.
One more mandatory step is an implementation of stage-by-stage crowdfunding (and creation of additional cycles). As is well known, many startups raise money in stages to attract more funds. So you as a developer must provide this opportunity.
Determine the Monetization Model
The most common model is a percent collection from every campaign, which has achieved financial goals. Specifically, Kickstarter takes 5%. However, there are other monetization models aside from this concept:
• listing fee;
• service fee;
• subscription fee;
• payment for additional services.
Along with that, you need to integrate a payment gateway. The same features it has when you want to create a video streaming website. As a rule, you better open a new bank account for the platform.
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Develop the Design and Functions
Keeping in mind the niche that you’ve chosen, you need to develop the design of the crowdfunding platform. Remember that these platforms are mostly visited by organized and business people, so try not to oversaturate design with abstractions and non-standard fonts.
Ensure that it’s easy to sign up for the platform and add the project. In addition, an important component is campaign management. Respectively, you should create a user control panel.
A critical detail is data security and support. Your clients have to be sure that their project will be protected and their questions will be answered quickly.
