Are you looking to build a Crowdfunding marketplace where users can create Crowdfunding campaigns? This article is going to explain the steps that you can take to begin creating a Crowdfunding marketplace just like other more popular Crowdfunding platforms like Kickstarter, Indiegogo, and GoFundMe. We have created a step by step process to help you get your Crowdfunding marketplace up and running fast.
Note, this is a general guide for those that want to start a Crowdfunding marketplace, and steps may vary depending on your specific needs.
To create your marketplace, follow the steps below:
1. Find the niche and plan the marketplace
All Crowdfunding platforms are unique and cater to a specific niche. This means that the Crowdfunding marketplace can host the Crowdfunding campaigns for a particular cause, or subject, etc. In order to build a successful Crowdfunding marketplace, you will need to plan and design the site to your specific niche. To fast-track the success of your own platform, one can choose a particular niche that is not yet established in the Crowdfunding industry. The content should be designed to capture the attention of both the potential backer and the campaign creators.
2. Choosing Crowdfunding technology
It is best to use white label technology to create a Crowdfunding marketplace. Building the entire website from scratch would be expensive and time consuming compared to using technology that is already built, and can be branded as your own. We recommend using the Atlas white label Crowdfunding solution.
Not all technology is paid, but when it comes to running a successful Crowdfunding platform, you want to be sure that users have a great experience on your website. Free technology typically forces you to support, and solve the issues if any occur. This can be risky for those who do not have any experience with creating and running a website in the past. Choosing a SaaS (Software as a Service) product can provide you with real-time support. This way you can get your site up and running fast, with as little hassle as possible. And if there is an issue with the site, you are not left all alone to fix it or have to hire someone.
It is best practice to have a set of requirements. Your requirements should have a list of the features needed and the user journey established. Create a list or excel sheet with all of the necessary features needed for your particular platform. Once the list is complete, send a request to the Crowdfunding products that are of interest, to easily compare the differences. This is usually the best way to assess which technology fits your needs the most. You can search for the right technology for your particular needs.
3. Connect and test the payments
Once you have chosen the technology that best suits your needs, you can start with the payments. This is going to be the main focus of your marketplace, so you need to ensure that the payments are being processed correctly. Some platforms allow you to connect to the payment gateway in test mode, so you do not have to make any real contributions to the campaigns before launching the site. This is a great way to ensure that your marketplace is processing the transactions correctly before accepting real money in case of any issues. It is best to avoid any issues before launching the platform.
4. Add your content
Now that the marketplace is properly configured for accepting donations, you can start adding the content to the site. There are services that offer a turn key setup for those who would like professional guidance for setting up the Crowdfunding marketplace. Make sure when you are creating content, that you are speaking directly to your target audience. Everything needs to be in their words and should capture their attention. You can also use analytics software to see how long users are visiting your site. This way you can see what content is working for you, and what content may need more work.
5. Launch the marketplace
Now that you have added the content, make sure you can accept real donations, and make a few small donations for further tests. Once you confirm that everything is working as planned, you can start to launch the marketplace.
It is also recommended to create a pre-launch campaign much like one for a Crowdfunding campaign. This will generate the right following before you launch your platform. Before launching the site, many platforms decide to restrict the platform to those who want to create a campaign by username and password authentication. The launch of your marketplace should be a big event, with lots of valuable site traffic.
6. Generate traffic
Once you launch the site, you will have to start generating site traffic. As mentioned previously, it is best to have several campaigns launching on the same day that your website is being released so that the site traffic is high on the first day. The campaigns will be driving most of the traffic to your Crowdfunding marketplace. Try to expose your platform to potential campaigns in your niche.
It is best to learn how to market the platform. The whole idea is to market the Crowdfunding platform successfully so that many campaign creators are approaching you to create a campaign on your platform. This way, you do not have to do any work to make money. This can be a great solution for those that want to generate a monthly revenue by simply approving or disapproving of Crowdfunding campaigns. Learn more by watching the following video: