Should you find yourself as one of the now many that want to leverage crowdfunding to fund their dream or project, then it’s wise to consider not only the larger crowdfunding platforms but also the more specialized crowdfunding platforms related to your target audience.
As crowdfunding slowly makes its way to the masses, it’s easier for newcomers to select crowdfunding platforms with big brand names. More often than not, consumers tend to reach for the more noticeable brand names when selecting a product or a service, because it’s normally the best and safest choice. However, crowdfunding is a different animal and what you may consider at first to be the safer choice isn’t always the best choice.
Larger crowdfunding platforms that dominate this market are; Kickstarter, GoFundMe, Indiegogo, or Razoo provide more general possibilities for campaigners and perhaps more analytical data. What makes these crowdfunding platforms attractive are their loyal customer base and strong marketing strategies in place to bring new funders to their platform. And they can usually spend quite a bit more money on reaching their market than the small crowdfunding platform. However…it’s important to keep in mind that many larger crowdfunding platforms don’t want to bother with smaller segments of their markets. They can afford to be general and market to the masses. That’s how they are accustomed to doing business.
Crowdfunding campaigns are typically very short-term, 30 days on average, and therefore reaching the most suitable and focused target audience for your product or service via the crowdfunding platform is an important consideration. You can find numerous websites on the internet about choosing the best crowdfunding site for your campaign, because many smaller market segments (often called niches) remain unserved and overlooked. With particular reference to LGBT-related campaigns, which may have a more unique target audience or subject matter, considering a crowdfunding platform that focuses on the LGBT community is ideal. As the LGBT Crowdfunding Network for the LGBT Community, Rainbow Campaign has pulled together what we think are important considerations for any campaigner. Click here to view our short list of 6 reasons to use LGBT crowdfunding.