Dangers of Crowdfunding on Multiple Sites

This question gets asked a lot by people looking to get started with their crowdfunding campaigns. Although there is no prohibitions against this and some people do run multiple campaigns simultaneously spread across different platforms. There are some things to consider before venturing down this path.

Gaining funding using the crowd
Gaining funding using the crowd

1. One of the bigger challenges faced is you spread yourself out too thin. When you’re running a crowdfunding campaign on a project it can require a big effort. There are many aspects involved, such as campaign creation and building your presence with support. Once the campaign is active, just managing one campaign via social media requires very hard work. Also you can’t forget about providing daily updates and keeping people in the loop with daily content management. This process spread out across multiple sites could wear you down. Which could in turn lead to mistakes and less trust from the backers.

2. Second biggest challenge we come across is confusion among the backers and the community in general. They might question the campaign, why it’s being broadcast among different sites in terms of trust. Also confused about which site they should contribute on. It may be better to concentrate the effort on one site and bring everyone onto there.

3. Finally you may lose momentum and not be able to sustain contributions. You will see sites such as Kickstarter with “all or nothing” approach. You need heavy momentum and steam to get past the target goals. If you’re on other sites, it could leave you short of the actuals goals. This in effect could lead to failure and create problems for future crowdfunding efforts.

If you are looking to be more effective with higher chances for success. It is advisable to just focus on one campaign running on one site with a new project. Especially true if you’re a smaller group or team of people managing the project.