Crowdfunding is a fairly new and quickly growing industry. Over the last few years hundreds of crowdfunding platforms have entered the scene. Many of these new platforms have found a certain niche, industry or market that was under served or not being served at all. By tailoring their service to fulfil the needs of these specific groups many platforms have found sizeable crowds while avoiding direct competition with some of the larger more established crowdfunding websites such as Kickstarter or Indiegogo.
Not every individual, organization or company with the next great crowdfunding idea has the time, money or web development experience to build a crowdfunding platform from scratch. White label* crowdfunding software companies like Thrinacia, offers these groups a reliable SaaS solution to quickly build and manage scalable crowdfunding platforms. Here are four significant benefits to using a white label SaaS to build a crowdfunding platform.
Significantly Lower Upfront Costs
The cost of hiring and managing a team of experienced web developers to be build and maintain a crowdfunding platform from scratch could easily cost tens or even hundreds (depending on the complexity) of thousands of dollars. Companies that provide a white label SaaS spread the cost of development over many clients, so that they are able to offer their software at a fraction of the cost when compared to developing a platform from scratch. Thrinacia; for instance, offers monthly subscription plans that cost between $69.99/month and $269..99/month.
Reduced Investment Risk
The risk of loosing a large investment during the development and the validation stages can be significantly reduced by using a white label SaaS to build a crowdfunding platform. There is a much smaller investment leading up to and continuing right through the validation stage, which can be a pivotal point in any project. Having the ability to cancel or upgrade a subscription at anytime puts the platform owner in complete control.
Ability to Adapt Quickly
Using a SaaS that offers flexible backend and frontend options allows platform owners to quickly adapt their website to new information and a changing environment. Being able to quickly adapt is vital to the viability of any crowdfunding start-up. During the validation stage of a project certain information may warrant a rethink the business logic of a platform. Having the ability to easily modify certain features to meet these needs is critical to the success of a crowdfunding website.
Access to Detailed Reports
Using a SaaS that offers the ability to easily create and view detailed reports and graphs is essential to understanding how a platform is being used. Having full access to a database is one thing, but having powerful tools to read and really understand that data is another. Building out detailed reporting tools likely wouldn’t be a priority when developing a crowdfunding platform from scratch. It may be something that is implemented later on with additional time and investment. Having simple access to this information during the validation and scaling stages of a platform is crucial for site administrators and managers to make effective decisions.
*A white label product or service is produced by one company (the producer) that other companies (the marketers) rebrand to make it appear as if they had made it.