Indiegogo is a crowdfunding platform where creators and entrepreneurs can raise money from a crowd of people to reach a specific monetary goal.
Thousands of projects are launched every week on the Indiegogo platform where ‘backers’ can donate to a campaign in exchange for unique perks to help bring the campaign to life.
Indiegogo Origins
The Indiegogo crowdfunding platform was launched in 2008 by Eric Schell, Slava Rubin, and Danae Ringelmann.
The first platform of its kind, Indiegogo paved the way for other crowdfunding sites such as Kickstarter — largely considered to be Indiegogo’s biggest competitor.
Since its inception, Indiegogo has served as a leading option for entrepreneurs to launch products in three major categories:
Indiegogo Community
According to Indiegogo’s website, 10 million people from 235 countries and territories visit the site each month in search of projects to support.
To date, more than $1 billion in funds have been raised by the crowd on Indiegogo to bring 800,000 innovative products to life.
Approximately 19,000 campaigns are launched on the site each month, with the majority of those campaigns setting funding goals of $10,000 or less. Those types of campaigns are typically the most successful on the platform.
Overall, about 10% of campaigns on the Indiegogo are funded successfully.
Indiegogo seeks to separate itself from Kickstarter — whose campaign success rates are about 38% lifetime — by taking a more agnostic approach as to what types of projects can be posted on their site.
Indiegogo is also known for its outstanding service team that is considered to be extremely responsive and attentive to its creators.
Fixed vs. Flexible Funding
Unlike Kickstarter, Indiegogo offers creators the option of fixed or flexible funding for their projects.
- Fixed Funding: Creators only receive the funds pledge if they meet their funding goal. Also known as ‘all-or-nothing’ funding. This is the only method of funding available on Kickstarter.
- Flexible Funding: Creators keep donations whether they reach their funding goal or not.
In both scenarios, creators are required to deliver on promised perks.
Backers usually prefer campaigns that are run with fixed funding, where success rates jump to over 17%.
Indiegogo InDemand
Indiegogo Indemand allows creators who have successfully reached their funding goal to continue raising funds from the crowd after their initial campaign has been completed.
Creators can continue their campaign on Indiegogo InDemand even if they originally launched their campaign on Kickstarter.
The program is a great option for entrepreneurs looking to continue to build their customer base as they make the transition from crowdfunding to Ecommerce.
Most Successful Indiegogo Campaigns in History
Total $ Raised: 12,174,187
Category: Technology
Backers: 36,653
Year: 2015
Total $ Raised: 5,859,412
Category: Technology
Backers: 14,646
Year: 2015
Total $ Raised: 5,048,213
Category: Education
Backers: 282
Year: 2015
An Hour of Code for Every Student
Total $ Raised: 5,022,943
Category: Education
Backers: 26,570
Year: 2014
Total $ Raised: 4,511,301
Category: Film
Backers: 52,532
Year: 2015
What Types of Projects Are Successful on Indiegogo?
Indiegogo has a reputation for being a great platform for technology and innovation.
The projects that typically receive the most funding on Indiegogo:
- Plan and implement a dedicated pre-launch strategy to build a crowd before going live.
- Have a great pitch video that entices backers to learn more about the project
- Create desirable perks that deliver value to backers in exchange for their support
- Invest in marketing to increase outreach potential
- Are featured on Indiegogo with the Gogofactor (learn how to hack it here)
Where to Learn More About Indiegogo
CrowdCrux has been a leading blog into the crowdfunding industry since its inception in 2011.
For more resources and information about Indiegogo and how to launch a successful campaign, make sure to check out:
- Founder Salvador Briggman’s Youtube Channel
- The Crowdfunding Demystified Podcast
- The CrowdCrux blog
- The CrowdCrux weekly newsletter
Ready to get started launching your Indiegogo campaign?
Book a coaching call with Sal today. He’s helped bring hundreds of campaigns to life, and he’s ready to go to work for you!
