Crowdfunding is a way of asking money from people to support a cause. A crowdfunding platform will help in raising you funds that you need. Charities or individuals can use crowdfunding to gather money.
You need a crowdfunding platform to ask for the money you need. GoGetFunding and GoFundMe are two of the most prominent crowdfunding websites on the internet. They both offer something different to their clients, but which one’s better?
The decision as to which platform you should choose will come down to your specific needs, but in this article, we’ll look at some essential factors that should be considered when choosing between the platforms.
The Pros & Cons of GoFundMe
GoFundMe is a crowdfunding platform where you can easily set up your campaign. The crowdfunding platform is easy to use and navigate. You can get your campaign funded in less than a week. If you check online, you’ll see that GoFundMe has hundreds of thousands of successful campaigns.
The GoFundMe affiliate program allows you to earn money when people sign up under your link. However, you won’t have access to your funds until the campaign has been 100% funded for at least seven days.
The GoFunMe platform is a great way to raise funds for a personal cause or someone close to you. As the organizer, you will receive all of the funds raised from your campaign, and GoFundMe takes no fees.
You might have to send a message to your donors explaining that your campaign is currently being reviewed and asking them for additional contributions.
To accept donations via credit card, you will need to give GoFundMe details of one of your bank accounts and allow them access to it. While this reduces risk, it does mean that all of your banking details will be stored by GoFundMe.
GoFundMe will charge you a 5% fee from the total amount raised in your campaign – This percentage is taken off the top of every donation. One of the most significant benefits of using GoFundMe is that there are no limits on how much you can raise as long as your campaign reaches its target figure.
If you prefer not to use services like PayPal or credit cards, then GoGet Funding could be right for you. GoGet Funding’s primary purpose is to help businesses raise money. They focus on assisting companies in obtaining Funding for projects and products or services.
Pros of GoFundMe
Easy to use
GoFundMe is a great go-to site for those in need. The website has many templates to choose from, and the entire process can be done with just your phone or computer!
GoFundme makes it easy to help others who are having difficulties during challenging times by providing access to an online platform usable on either your smartphone or desktop device.
In addition, they offer multiple options depending on what you’re looking for. There’s probably a template out there somewhere perfect for whatever situation you may find yourself in!
Has a high success rate with donors
One of the best things about GoFundMe is that it has a high success rate with donors.
The site has raised more than $2 billion for different causes, and they’ve never had to have any money returned because there is not enough donation to complete a project or goal. That’s pretty darn impressive!
Can raise a large amount of money in a short space of time
On GoFundMe, people can donate to help a specific cause. For example, one person raised thousands of dollars for their niece’s surgery in just one night!
On the go-to platform for fundraising, donors have contributed more than $2 billion to over 1 million campaigns and projects since 2010.
This includes everything from disaster relief funds, medical needs, and education scholarships.
People love this site because it allows them to be directly involved with giving money. However, they feel it is best used without having any personal ties or responsibility towards how that donation will impact other people’s lives.
Cons of GoFundMe
You have to pay a 5% fee on the total funds raised. You need at least $500 for your account to be verified. There are no limits on how much you can receive.
Not all are successful when using GoFundMe.
The platform is available to limited countries at this time.
The Pros & Cons of GoGetFunding
GoGetFunding is a crowdfunding site that has some excellent features. One of the best things about it is how simple and easy to navigate. You find everything on their website, which makes for an enjoyable experience overall.
You can choose from three different options when selecting what sort of campaign you want: raising funds for business expenses, generating pre-sales or backers for your project, or personal fundraising needs such as medical bills; all categories are significant in terms of getting money fast with GoGetFunding.
In addition, you can show your campaign in front of thousands of people interested in seeing unique new projects come to life, which makes it an ideal scenario for creatives or businesses looking to make their dreams come true.
Pros of Go Get Funding
Simple to use platform.
GoGetFunding is a simple-to-use funding platform that provides people with the opportunity to make their dreams come true. Users can create an account and connect it to your PayPal or bank account, so they have instant access to GoGetFunding’s website, making fundraising very easy for anyone who wants some help getting started!
Suitable for creative projects.
GoGetFunding is the best way to get funding for your business idea. Whether you want to start a new project or expand on an old one, GoGetFunding makes it easy and gives creative entrepreneurs all they need to create their vision into reality.
Cons of GoGetFunding
You can only get Funding for personal needs and not regular business expenses.
The crowdfunding platform is not available in all countries.
Benefits of a Crowdfunding Platform
Crowdfunding is a hugely popular concept. It is helpful to entrepreneurs and artists. It has also helped in allowing new startups to get past their initial stages of Funding.
Crowdfunding platforms provide access to the crowd for funds and offer flexibility as you can set your own goals. In addition, the idea behind such a platform also encourages social interaction among members, which makes it even more beneficial. The following are some of the benefits of using a crowdfunding platform:
Access to an Unlimited Audience
A crowdfunding platform helps raise money from anyone without having to go through any middle man or institution. Crowdfunding allows everyone the same chance to raise money without having to worry about anything else.
Benefits of a Community Platform
It is easier for an entrepreneur or business owner to seek advice and support from the community members on the platform. This will make it easy for businesses to start gaining customers and get advice from other entrepreneurs and possible supporters of their project.
Other than that, you can also have your backers club by using these platforms, which would help provide necessary support in taking your business forward and putting together a list of future investors.
The best thing about crowdfunding platforms is that they provide the possibility of getting connected with hundreds upon thousands of people who might be interested in your product or service while being able to keep them updated regarding all developments.
It helps connect you with the relevant companies and even other similar startups, which might help enhance your business.
This, in turn, would result in making more sales or raising funds for your company while encouraging better camaraderie among community members. A crowdfunding platform provides easier access to get a loan from a crowd. It gives you investors who are willing to invest their money online without having any doubts.
You can quickly start a business by inviting investment for startup costs through these platforms. You can also raise capital for your existing businesses by using such media as they help cut down on overall cost though it may take time to get your returns.
There are no complicated procedures involved in using these platforms, and you would be able to start raising capital within minutes of your registration.
Choose your crowdfunding platform
Gofundme is a fundraising platform that works with people who are looking to raise money for themselves. GoGetFunding, on the other hand, focuses on businesses and entrepreneurs looking for Funding.
With GoGetFunding, you can create an account, post your project idea, and then search through all the projects looking for available investors.
On GoFundMe, you can also start by creating your profile and post a project idea.For those looking to fundraise money for themselves or family members in need of funds, GoFundMe is best as it focuses on this purpose while GoGetFunding focuses more on businesses.
For entrepreneurs looking to raise capital for their business ventures or new ideas, GoGetFunding is the way to go. It provides exposure to a large number of potential investors.
Your Next Steps
How to pick a crowdfunding platform - or not?
QA- Do I need a manufacturer before launching a crowdfunding campaign?
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