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Two biggest crowdfunding platforms Indiegogo, founded in 2008, and Kickstarter — in 2009 successfully exist side by side for more than a decade. If you are searching for innovative products or want to make your idea a reality probably you have asked yourself Kickstarter or Indiegogo?
At first glance, it may seem that these platforms have no differences, but this is true only with respect to their idea, because for many years each of them developed according to their own scenario.
There are a lot of differences between the two platforms and to get acquainted with them, it’s essential to study the next points: the cost of services, possible terms and duration for financing, shipping, platform fees etc.
Below you can find some of the least well-known differences between the two platforms that will help you make the right choice between Kickstarter and Indiegogo.
Before Going LIVE: Pre-launch stage
A peculiar feature of the Kickstarter platform, which has a huge impact both on the launch process of a new project and on obtaining financing, is the 2-day Kickstarter Review. The review of new projects in Kickstarter includes such feature “the possibility of manufacturing and the prospects for selling” In other words, you need to show a prototype or any other proof that your invention, product or service is real and will be delivered in time.
By contrast, Indiegogo platform requires only to enter your name, provide financial assistance, specify the address and attach a press release to start your crowdfunding campaign.
Behind the Scenes: Back-End of the Platforms
Kickstarter was developed for iOS, and Indiegogo — for Android … well, make the conclusions yourself. Indiegogo allows using public API, as well as obtaining online information about getting financial support. What’s more, Indiegogo offers a built-in analytics platform where you can monitor activity with conversion pixel and much more.
As for the Kickstarter, it supports all the above features. However, you need to struggle until you get and adjust them to your needs. Usually, crowdfunding expert are hired to help with Kickstarter campaign setup and analytics tracking. If you are familiar with Google Analytics, you can use this tracking method for assessing your results from crowdfunding.
Not so long ago, Kickstarter finally presented tags for the referral program, which, of course, received great support from many users. This feature gives possibility to better understand the value from affiliate programs. Nevertheless, despite all these attempts and improvements, the capabilities of the Kickstarter platform are still far from the Indiegogo. Moreover, Indiegogo offers more complex and useful data for marketing experts dealing with issues in crowdfunding campaigns.
Measuring success: Number of funded projects
It is difficult to compare the statistical data on the successful projects of these two crowdfunding platforms, since such information is not provided by Indiegogo. However, such data is publicly available on Kickstarter, while their site is updating regularly an indicator of successful projects which is 35.72%.
As for the campaigns that received the biggest funding, Kickstarter has no rivals: Kickstarter’s ten campaigns totaled $108,866,609, while a dozen on Indiegogo — $43,256,927. Well, this looks cool, right? Well, things are not so obvious. It turns out that the ten most popular projects on Kickstarter received, approximately, $10,886,660 each. However, campaigns that received more than $ 100,000 make up only 1% of all 339075 campaigns launched in Kickstarter, and campaigns that received more than $ 1,000,000 of financial support make up only 0.6%.
From my own experience, I can say that Kickstarter is a platform in which it’s rather difficult to succeed for your new project. However, if you managed to achieve success and your project is popular among backers it is highly likely that you will receive financial support from serial backers (31% of 12406560 sponsors), as well as privileged donors who already supported more than 25 projects.
Platform structure: All or Nothing, or InDemand?
The differences that concern business conduct between the two platforms under consideration are very large. On the one hand, Kickstarter positions itself as: “we are not a store,” but “a way that innovators and consumers can work together to create something new”. On the other hand, Indiegogo has a a completely different approach with Shipping Now feature, as well as the InDemand feature, which allows you to continue collecting donations regardless of the funding deadline.
Last words: It all depends…
In conclusion, it all depends on what kind of product are offering. What can be said is that there are many differences between Kickstarter and Indiegogo, and it is not possible to determine exactly which of these crowdfunding platforms is better and which is worse. In their original design, these platforms are very similar, whereas each of them has its own unique advantages and its unique method of managing each new project. Only through careful familiarization with all the features of each of these platforms, you will be able to decide on the right choice of crowdfunding platform for your very own aim.
Finally, I would to tell a few words about the recent project I’ve been working on. Within the next few days, we are launching a crowdfunding campaign on Indiegogo for LiveEdu.tv. This is a streaming service for programmers and designers, which is focused on building real projects. There are dozens of projects that are developing in real time by real developers, who explain each step of their creation. Personally, I have some experience in coding and I have passed some projects on LiveEdu before launching this idea of Indiegogo. What’s the verdict? Well, these guys have great idea and interesting product which needs further development to become successful. Therefore, I offered them to start campaign on Indiegogo.
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