No two websites were built on a par with crowdfunding, but Kickstarter, Indiegogo and Gofundme definitely shot up to the top. All three are streets ahead of thousands of other successful online crowdfunding sites. Gofundme is an individual fund-raising platform — not a topic that we tend to address — so that Kickstarter vs. Indiegogo leaves bold fund-raisers with an artistic, charitable or commercial focus. But which one is it going to be? What one is it meant to be?
And the chances are you’ve learned of Kickstarter. You probably have a good handle with regard to the basic pros and cons of this platform, but let us cover our bases and start at the beginning in order to be thorough.
Today, crowdfunding is often Kickstarter synonymous. It is the largest crowdfunding site in the world. It also has a bunch of metrics to praise: Kickstarter campaigns have already raised over U.S.$4 bln. 158,000 active initiatives have been coordinated, with a total of 16 million supporters — one third of them funding multiple campaigns. More than 300 (339 in fact) broke the US$ 1 million mark. An additional 5454 campaigns raised more than US$ 100k. Will I need to move on?
The goliath crowdfunding has 15 groups of projects. The most popular categories of film and video, music and publications (the majority of campaigns are registered), but the games, technology and design are the categories that truly arouse supporters. These last three groups are the most well financed on the site (as a side note, Wednesday afternoon is when many backers put their hands in their pockets).
Still impressed? Well, if you learn that all these impressive stats represent just 36.69 percent of Kickstarter campaigners, you may be a little less. The rest (over 60%) fail to achieve their objectives.
Yet don’t get disheartened, Kickstarter already has a couple of aces up. With a reputation for launching wondrous, innovative and truly wonderful ideas, the media and bloggers cover Kickstarter a lot. A well placed item could win you a place in the top 36 percent.
Indiegogo initially focused only on independent films (therefore the name) Indiegogo began to embrace projects in all categories one year after their launch. Built to give backers more opportunities, Indiegogo is usually seen as a less stringent and more flexible platform than Kickstarter. This is available in more than 200 countries with more categories (24 vs Kickstarter’s 15). It also gives backers the option of whether they want set models (all or nothing) or flexible models (creators may collect any amount). In 2015 Indiegogo split into a new Indiegogo Live platform which was later renamed Generosity. Later, Generosity was sold to Gofundme and became a personal fundraiser.
It has about 7,000 live campaigns at any given stage (Kickstarter has 4,000) and every day hosts an average of 260 new campaigns. It’s not all that metric-filled (you’re going to have a hard time seeking numbers like Kickstarter publishes), but you’re going to hit the odd estimate or 3.
If Kickstarter estimates that around 36 percent of its campaigners are successful, Indiegogo’s success rate is around 17–18 percent in the digital world. It sounds bad, but it has a few other things to do. Its flexible financing scheme allows you to receive the funding without having to reach your goals, plus our successful Indiegogo campaigners are also telling us that customer support is second to none (not something with which Kickstarter campaigners often agree). In addition to that, the fact that donations are not reimbursable, and the founder knows exactly how much they have earned (Kickstarter camps appear to reduce 5–7% of supporters, so Indiegogo looks like a very appealing choice later on).
Kickstarter vs Indiegogo Kickstarter and Indiegogo And there you get a general rundown on two of Kickstarter vs. Indiegogo’s biggest crowdfunding sites. There are, of course, hundreds of other minor variations. Our smart infographics have whipped up a table instead of rattling a list, to help you discern the distinctions between the two. I have labelled my priorities in green in the boxes (as a positive campaigner).
I jest — I’m going to rattle off a list, of course! Where else are you going to find out which crowdfunding platform is right for your business?
Indiegogo vs Kickstarter: contrasting charts of the best fund-raising sites — the main difference is possibly how they deal with money and who they are. Kickstarter only releases funds when the campaign has met its funding goal, Indiegogo offers you a chance to choose between getting support when it comes around or waiting to see if you are meeting your goal. As a activist, flexible support (i.e. collecting funds immediately) is far less costly to use, but do not forget that, regardless of what you receive, you have to deliver. From a backer’s point of view, fixed finance (all or nothing) is much more appealing and carries a lot less risk. But Indiegogo offers both options, so it gets extra credit.
Media and Outreach Kickstarter loves the media and it gets much more attention than Indiegogo. The explanation for this infatuation is the strict quality managed picture of Kickstarter. We offer better quality goods, so that reporting types do not have to go through a quest to find a story after a waste quest. This means that your campaign at Kickstarter has more chances to gain a bit of press coverage (learn about tools to ease your work during your crowdfunding effort). Great advantage. And Kickstarter’s one point.
Updated payment processing: Indiegogo has started funding Stripe for payment processing as of October 4, 2016. Before, just for the freezing of business accounts was Paypal and Indiegogo received quite some attention (Paypal doesn’t like people to accept funds for products that are not yet made). On the other hand, Stripe was much more hospitable and seems to understand crowdfunding. Kickstarter was previously a credit, but since Indiegogo now has both options — a credit goes there. UPDATED: Indiegogo removed PayPal later, leaving Stripe as the only payment processing option (and the creators are very happy).
Video Hosting Kickstarter uses its own video hosting services and Indiegogo uses Vimeo and Youtube. Whereas there are some benefits and drawbacks of providing your own video hosting service, one thing is sure — Youtube is the second largest search engine and offers excellent marketing tools for new users. There are two birds with one stone as your Youtube video reveals more high rankings in YouTube during your Indiegogo campaign. If you have an audience who will like crazy share your video and comment, then better still. If not, someone you know might be worth asking to comment on your post, because Indiegogo will show all those interactions on your crowdfunding page and there are no comments that look like no comments, which hardly encourages backers. Here is a method to build the best videos of Kickstarter.
Previous platform fees there were two kinds of Indiegogo fees: 4% if you met and 9% if you didn’t (for flexible financing). And how much is Indiegogo getting now? They changed their approach in July 2015 and now Indiegogo matches the flat 5% rate of Kickstarter whether you reach or not. Indiegogo does not have fees for personal fundraising ventures, on the other hand — but because we do not concentrate on personal finance, it has no preference.
Payment Processing Fees Processing fees Payment processing fees are almost the same (3%) so they get a point for both.
Indiegogo’s Reward Levels set a limit of 20 rewards, Kickstarter did not (at least for the first 50). 20 award levels may be more than enough to attract your backers most often, but it’s always nice to have the option if you want to organize something creative (Who knows). So this round goes to the rewards of Kickstarter.
Remarketing Remarketing is a strong resource for telling tourists who have already viewed the website (e.g. Facebook ads). This works by adding a pixel code on your web page, where all visitors are identified, and people who visited the specified webpage create an audience. Indiegogo encourages activists to upload the pixel code and to build an platform for remarketing, while Kickstarter does not. Although we gave Indiegogo a point here, there’s a great service called Easy Retarget, which allows you to get in touch with your Kickstarter acts.