IndieGoGo is a croud funding platform that allows you to raise money quickly and securely. This trusted platform has helped to raise millions of dollars for over 65,000 campaigns, across 211 countries. Unlike its main competitor Kickstarter, you do not need to be fully funded in order to receive your cash. They offer a platform called Generosity in which they allow people to raise money for personal causes. If you go this route the fees are reduced.
Using IndieGoGo
IndieGoGo also offers each campaign a set of promotional tools that meet your causes specific needs. They also don’t have an application process. You can submit an application without having it approved first. They also offer you two different fundraising options. You can choose flexible funding or fixed funding. Flexible funding allows you to keep the money you raised even if you do not meet your goal. Fixed funding allows you to automatically return your funding to your contributors if your goal is not reached.
There are some challenges though. When you think of fundraising campaigns the first name that comes to mind is Kickstarter. So, with this IndieGoGo has less traffic for your cause than that of a Kickstarter campaign. The fees are also higher with IndieGoGo. If you do not reach your fundraising goal but want to take the cash you raised IndieGoGo will charge you a 9% fee on your fundraising total.
Another disadvantage is you cannot send packages out immediately. People who contribute to a campaign usually have about 10 days to request a refund. So you want to make sure you wait the 10 days before sending out a product to a contributor. You can run into them receiving the product when they requested a refund and you will lose money. Since there are both advantages and disadvantages to using IndieGoGo, it may be a good idea to take the time to consider if it is the best platform to help you meet your goals.
