Choosing the Right Crowdfunding Platform
Last Updated 07/06/2017
Q: "Should I use FreeFunder or GoFundMe to fund my debut CD? I'm a new artist with very few fans."
Recently, this question was posted on Quora, the popular online Q&A site. A member, Arik Marmorstein, responded: "It doesn’t really [matter] which platform you use as long as it’s well known and people feel comfortable to pay there." Marmorstein also made a great point about having a family and friends network to support your project. You can read his full response on the site.
Of course, I answered, too, saying that FreeFunder is free whereas GoFundMe charges a 5% platform fee. This makes the platforms very different.
With that said, there are many platforms to choose from. Platforms geared toward women, entrepreneurs, start-ups and real estate, etc. Choosing the right platform is secondary to promoting your project. Platforms don't determine success. You have to promote your project in order for it to succeed, regardless of the site. Your fundraising success is determined by you.
Still, here are several reasons why FreeFunder is a great platform to raise funds for a new CD:
Great customer service
Your success is our success. Whether you are a fundraiser or contributor, we are ready to quickly answer your questions. Contact us before, during or after your FreeFunder campaign. We're here to help.
A big fish in a small(er) pond
FreeFunder is a smaller platform than GoFundMe so there are fewer campaigns, which can make it easier for your project to be discovered by potential donors.
We donate to campaigns
To raise money for your project, you have to promote it. We give you an incentive to do that by donating $20 dollars when you reach 100 Facebook shares and $50 more when you reach 500 shares.
We provide great tools that make it extremely easy to set up and maintain a FreeFunder campaign. You can also create customized pages and a custom sharing link for your project. Just provide the details. Our tools will do the rest.
No platform fees or deadlines
Did I mention it's free? At FreeFunder, you keep the funds you raise. If you raise $1 or one million dollars, you get the funds. And there's no deadline. Take as long as you like to raise the funds you need. Your project's success is determined by you.
Note: There is a small, mandatory third-party transaction fee (which is usually 2.9% plus $.0.30) that goes directly to the online payment company, not FreeFunder.
Crowdfunding Tips and Strategies
Whether you're launching your first project or just interested in industry trends, you can learn a lot about crowdfunding on our blog. We've covered a plethora of topics, including crowdfunding misconceptions, how to launch a campaign and how to promote a campaign.
We have a strong fundraising track record. Musicians, filmmakers and other artistic folk are successfully raising funds on the platform. Check out these success stories: Charmaine Headley, Jenn Page and Into Hymn. The fundraisers set their own pace to reach their goals.
Crowdfunding is a rapidly growing and changing industry. We are excited to be a part of it, helping people raise funds for personal causes. Launch your project.