Crowdfunding has become a common event in today’s world. It is a way of raising funds by appealing to a large number of people for each to contribute ascertain amount of money. This is done either to finance a business, project, venture and among other reasons. Crowdfunding however, differs from the traditional method of raising money by involving others as it relies heavily on the use of the internet to talk to thousands and millions of willing funders. This is achieved through setting up a profile of the project on a website by the fund seekers. The different type of crowdfunding include Donation or Reward Crowdfunding, Debt Crowdfunding and Equity Crowdfunding. This article intends to discuss the features of a successfully designed crowdfunding website by a freelance web designer singapore.
Payment, withdrawal and Management systems
A crowdfunding website is besically about making Payments and withdrawals. Thus the website must have an elaborate payment system that accepts both local and international payments as well as withdrawals. Also it should be smooth and user-friendly as it ensures the maximum number of fundraisers visiting the website. Funds management is another key factor in a crowdfunding site. This includes the disbursement of the money to the stakeholders. The disbursement can be instant or gradual. Stripe Connect and PayPal Adaptive payments are such systems available today.
Management tools should be capable of;
Showing number of pending users, projects, and donors
- A list of users
- Underway projects by category
- Payment logs
- Message board
- Stats showing number of users, funds, and returns info.
A website should offer a smooth and new user experience to through its simple application and quick signup. Clean design, perfect look and intuitive navigation contributes to user experiences. The user also needs to feel that the websites project is genuine and worthy support or investment.This can be accomplished through setting up of monetary policy that is fair, security measures and project management outlines.
Inspiring of people to run a campaign or invest on the website’s projects is important. This will require showcasing of offers and announcing of rewards on successful campaigns.
It is no secret that wherever money is involved, fraudulence is common. Thus a crowdfunding platform needs a reliable way to verify the identities of potential donors and eliminate money-laundering. Thorough security ensures fraud detection safeguard the platform from terrorist financing. The website needs a mechanism that;
- Collects and analyses identity documents
- Match names with the names of known people
- Detect imposter with someone else’s identity.
The above features are extremely important in the process of making a successful crowdfunding site. In case you want to launch a crowdfunding site, ensure you choose your host like WordPress and Crowdfunding plugin carefully. This due to the fact that different hosts and plugin come withdifferent advantageous elements as platform and fundraising system respectively.