I’ve been reading a lot lately about Niche Crowdfunding platforms and how thay may be more efficient for specific niches. I’m outlining some of the latest research on this topic and why I think this is really true.
Crowd Unite compiled a list of the top 10 crowdfunding platforms based on user reviews and found that Niche market platforms took the top spots with Kickstarter ranked fifth. Why is this? There are many reasons but the main one is that they provide Tailored Service.
Cruzu is an great example of how an industry specific crowdfunding site has tailored its service to meet the needs of funders and contributors. Cruzu connects wine makers with consumers in a way that is beneficial to both parties.
These type of platforms can create a network & logistics service that directly connects users to create a new type of niche specific experience that enables them to not just sell directly to consumers, but also to share their world in a way where we can know them. Bonds are created, trust is created, and here’s the value: consumers pay less than they do now.
They Create Close Knit Communities. Niche crowdfunding platforms tend to focus on a common interest that their users want to share. As a result users tend to be very supportive and contribute more to campaigns. Campaigns are able to feed off of the popularity of one another rather than just competing.
Campaign Funding Success Rates. The fact is that Niche Crowdfunding Platforms have a much higher success rate. As much as 69% and raise an average of $14,700, as compared to Kickstarter’s just 40.2% and average funds raised of $12,878, from some film Niche Crowdfunding platforms.
ArtsFunding.ca is just such a platform specific to the Arts. We are Crowdfunding for the Arts.
Given these simple powerful arguments for why niche platforms are so successful we feel the arts should be a part of that.
Article Information supplied by Thrinacia.com