what is all or nothing vs flexible crowdfunding?
TRANSCRIPT
‘All or Nothing’ means that if you do not reach your funding
target you do not get any of the funds that your supporters have pledged
towards your project
‘Flexible’ funding means that if you do not reach your funding
target you still get all the money that your supporters have pledged
towards your campaign
Your supporters will be more willing to support an ‘All or Nothing’ campaign
This generally means you have set a more realistic funding target and that fully funded projects have a greater
chance of success
If your project does not receive the full amount you asked for
your supporters will wonder if you are able to complete the project with
only a portion of the funding
It is easier to get support if you have an ‘All or nothing’
campaign because your supporters will not be charged if you do not reach
your funding target
On the other hand if you decide to go for a ‘flexible’ campaign
your supporters are normally charged immediately
when they make a pledge
In most cases CrowdFunding websites that offer ‘Flexible’ funding will charge you a higher admin fee if
you do not reach your funding target
You therefore need to carefully consider which type of
funding approach you are going to use for your CrowdFunding campaign
For more tips on running a successful CrowdFunding campaign download a free copy of our online
interactive magazine from the
Apple App or Google Play
store
There are many more resources available to support your CrowdFunding efforts at
CrowdFundingFocus.com