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How to Monetize Your Crowdfunded Product
There are pros and cons to the most common payment models, and they will affect how you Crowdfund your product.
- Subscriptions: You can modify your subscription model to best suit your product.
- Freemium: You provide everyone with a free basic level of service, with certain features locked behind a paywall.
- Advertising: Users can pay for an ad-free experience.
- One-time download/licence fee.
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Crowdfunding Platforms
- If you’re building a digital product, consider Kickstarter.
- Patreon is well suited to ongoing creative projects and is the better choice if your side project isn’t an app or a piece of software.
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How to Get Funded
- Choose Your Platform and Set Your Goals: First, you need to set your funding goals. Work out how much money overall product development is going to cost. You also need to decide how much of your own money, or teammate’s money, you’re willing to put into the venture.
- ...
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Crowdfunding
Crowdfunding is a powerful tool for social good, allowing people all over the world to donate to crisis relief charities, political causes, and to pay struggling individuals’medical bills.
There are others that are geared towards backers of physical and digital products. Crowdfunding democr...
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