Are you investigating the opportunity to create a Crowdfunding campaign? Would you like to know how to save money during this process? This article will teach you how to save money when running a Crowdfunding campaign.
If you are considering to run a Crowdfunding campaign, you may realize that there are particular expenses that you need to account for. Such expenses could include your marketing/advertising, shipping if you have shippable rewards, the video creation for the campaign, and the transaction fees that are associated with using popular Crowdfunding platforms.
There are many resources for learning how to create a budget for your Crowdfunding campaign. When it comes to saving money, you should be looking at the expenses that are associated with the Crowdfunding campaign, and locate which are the most costly that you can try to avoid.
What are the biggest expenses for your Crowdfunding campaign?
When it comes to calculating expenses, you will find that the majority of the expenses come from both advertising/marketing, and the transaction fees that the platforms are taking. Advertising/marketing is completely necessary to spend money as this will directly gain more traffic to the Crowdfunding campaign. Advertising/marketing will provide a return on the investment when done properly. When it comes to giving your money to the platform, however, this may not provide any direct return that you may benefit from. It is not at all guaranteed that you will gain more eyes on your Crowdfunding campaign by allowing the platform to be your host for the campaign. This is the only reason that they are charging such transaction fees. Many campaign creators do not realize that they can create their own self hosted Crowdfunding campaign, and do not have to pay any transaction fee just to host the campaign.
Your options
You can only save money on the expenses that you can control. When it comes to marketing, this is essential to generating donations and will differ in pricing and strategy between each campaign. When it comes to where you choose to host the campaign, this is something that anyone can save money on. If you plan to raise for example $100,000.00 and the platform is taking a 10% transaction fee, you will be losing $10,000.00. Not all campaigns will be raising this much, or maybe raising more, and not all platforms will be taking a 10% transaction fee. typically, the most popular Crowdfunding campaigns will take on average 5% – 15% of each donation on the platform. You can skip these fees completely by choosing one of the following options:
Using Reach
Reach is a 100% free to use Crowdfunding platform that is designed for rewards and donations based Crowdfunding campaigns. Reach does not take a transaction fee for the donations on the platform. Not only is it 100% free to use, but you can also copy and paste HTML widget code onto your website of choice. This means that you can host the Crowdfunding campaign on your website of choice for free!
The Atlas subscription plan
For those organizations or individuals that want to have all of the same capabilities as mentioned above, and include even more functionality and full manipulation of the campaign looks and functionality, then you can use the Atlas subscription plan. This is designed for those that want to run single, or many campaigns, and want to be able to fully white label the campaign, meaning that it has your own branding. Not only will you have access to manipulate the way that the campaign will function or look like, but you will also have access to the front end source code so you can add more functionality to the campaign, or any type of UI customizations that you would like. Not to mention that you can save so much money even when you are using the subscription fees listed on the pricing page. There are such subscriptions as the micro plan which will allow you to run the types of campaigns mentioned above at only $9.99 per month. This could save you an extensive amount of money, and can be used for any type of rewards and donations based Crowdfunding campaigns for individuals and large organizations alike. Each plan also comes with support so that you can get your questions answered about the features and functionality of the software. For a more detailed explanation, you can watch the video below: