Indiegogo Review 2021

57 Secrets of Crowdfunding

This guide unveils everything you need to know about successful crowdfunding

  • Get Traffic
  • Create a Compelling Campaign
  • Raise Money to Make Your Exceptional Idea a Reality!
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Indiegogo Review 2021

19.07.2021

Pros

  • You can choose between flexible and fixed funding options
  • Offers InDemand program that allows you to keep raising funds indefinitely
  • Simple campaign approval process
  • No working prototype required
  • Better analytics with Facebook pixel and real-time backer information

Cons

  • Less exposure than competitor Kickstarter
  • Lower success rate than Kickstarter (17% vs 36%)

Indiegogo Overview

Indiegogo was founded in 2008 by 3 people who knew the struggle of getting funding for projects. They decided to use the power of online communities to bring amazing ideas to life. So, they created Indiegogo. But, what is Indiegogo? Indiegogo is a flexible crowdfunding platform where you can raise funds for essentially any idea (excluding personal causes).

Indiegogo is available in 22 countries and has 10 million monthly visitors from around the world. The platform has helped raise $1.6 billion for over 800,000 campaigns since they’ve launched. So many worldwide users trust them, and it’s not for nothing.

Indiegogo has amazing advantages over its competitors. It offers more flexible terms for campaign owners and serves as a fantastic space to raise funds and start building your community around your product. Naturally, it has its limitations, but it’s still one of the leading crowdfunding platforms in the world.

From campaign perks and flexible funding, all the way to Facebook Pixel integration and responsive customer support, Indiegogo is an outstanding crowdfunding platform.

In this Indiegogo review, we will cover the whole platform and try to answer your question of “how does Indiegogo work?” We will also discuss all its eligibility criteria, application processes, fees, analytics, etc. But before we get there, here are the answers to your most asked questions – “is Indiegogo safe?” and “is Indiegogo legit?”

Is Indiegogo safe?

Yes! As a backer or a campaigner, you are safe to fund or get funded on Indiegogo. Indiegogo scam projects are not tolerated, and the platform makes sure that your rights are protected.

Is Indiegogo legit?

Yes! Indiegogo is a verified crowdfunding platform. According to their Terms of Use, campaign owners enter into separate legal agreements with both Indiegogo and the Contributors. For more information on backer refunds, you can check out their Refund Policy.

Eligibility criteria

First things first, in this Indiegogo review, let’s talk about who can launch an Indiegogo campaign. If you already have an amazing idea and you want to raise funds to bring it to life, here are a couple more things you will need. Indiegogo requires you to:

  • Be 18 years old or older.
  • Create the campaign in your own name or on behalf of the registered legal entity you are affiliated with.
  • Have an address and bank account in the country where you are creating your campaign.
  • Have a linked bank account belonging to the person who verified their identity for the campaign (if you are running your campaign as an individual).
  • Be a legal resident or have your business entity registered in one of the following eligible countries:

US, UK, Canada, Australia, Hong Kong (China campaigns may be eligible), Austria, Belgium, Denmark, Germany, Finland, France, Republic of Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Singapore, Spain, Sweden, Japan, or Switzerland.

 

*Note: Indiegogo used to be available in around 224 countries, but they’ve recently narrowed it down to the abovementioned 22.

 

If you meet these criteria, congratulations! You are eligible to create and run a campaign on Indiegogo.

What can you raise money for on IGG?

If you qualify to run a campaign on Indiegogo, you should also know the types of campaigns that are supported by the platform. Officially, here are the kinds of projects you can run:

  • For-profit campaigns
  • Campaigns benefitting nonprofit organizations or nonprofit beneficiaries
  • Campaigns for products
  • Anything within “Community Projects” (must not be a personal cause)
  • Educational campaigns in the Tech and Innovation category

If you’re searching for a platform where you can raise funds for a personal cause, GoFundMe could be the one for you.

Campaign requirements

Indiegogo allows you to run campaigns even if you don’t have a working prototype yet. However, they have a strict policy regarding the launch of made-up campaigns. So, you can be sure that Indiegogo doesn’t allow Indiegogo scam projects to be launched.

Prohibitions of Indiegogo

Indiegogo doesn’t allow you to run campaigns that are illegal, harmful or an Indiegogo scam. You also cannot offer perks like alcohol/drug paraphernalia, weapons, or any kind of financial investment.

How to Apply

The main question that follows after “what is Indiegogo” is “how does Indiegogo work?” To answer that, this Indiegogo review will discuss the general processes you will pass when launching your campaign. We’ve created a step-by-step guide for how to get your crowdfunding project up and running.

  • Create an account

First things first, you will have to create an account. Head over to the Indiegogo website and click on “Start a campaign”oin the top right side of the page. Then, click on “A project” and create your account or log in.

  • Fill in some basic info

You will be asked about what you are raising money for, your location, and where your bank is.

  • Use the Create/Edit your campaign tool

After filling in the basic personal information, you’ll be redirected to a page where you will create your campaign. Here are just some of what you will need to input:

  • Basics, including your campaign title, tagline, and card image.
  • Content, including your main campaign video and your story.
  • Funding, where you need to choose between fixed vs flexible funding types, campaign goal amount, and your bank info for disbursements.

 

*Note: You can also create a link to share the draft version of your campaign with others.

 

Before launching your campaign, it can be saved in your ‘Draft’ mode for just 6 months, after which it will be removed.

  • Optimize your crowdfunding campaign link

Indiegogo offers custom short links for its campaigners. This will be extra beneficial for you when sharing the link on socials.

  • Launch!

Once you’ve filled out all the necessary information, simply click on “Launch Campaign,” and you’ll be done. If you missed any important info, don’t worry. Indiegogo will alert and remind you to fill in what was missing. Last but not least, you will see a pop-up with your campaign goal, deadline, and funding type. Once confirmed, your campaign will finally go live.

 

*Note: Once you launch your campaign, you may not edit the campaign goal amount, funding type, or deadline.

Indiegogo Fees

Before you start your campaign, take a look at what this Indiegogo review has to say about IGG fees. If you’re asking yourself, “how does Indiegogo work,” this will help you get a clearer understanding. So, let’s dive right in and see what fees Indiegogo charges.

Platform fee

Indiegogo charges a general 5% platform fee from the overall amount of funds that you raise. The 5% remains unchanged whether you are in the InDemand program or no (we will discuss the InDemand program later in this Indiegogo review).

 

*Note: If you already ran your campaign on a different platform, then joined the Indiegogo InDemand program, your platform fee will be 8%.

 

The platform fee also depends on the type of crowdfunding campaign that you choose – fixed or flexible. Let’s look at the differences between them.

Fixed vs Flexible Funding Campaigns

When setting up your campaign, you will have to choose between fixed and flexible campaign funding options.

With a flexible funding campaign, it doesn’t matter whether you meet your goal or no. You will get to collect whatever amount that you raised, and a 5% platform fee will be charged on that amount. As a campaigner, you will receive the funding immediately when you raise it, regardless if you meet your goal. Please note that Indiegogo also withholds another 5% of the funds you raised until you deliver your product to all the backers.

With a fixed funding campaign, you will only get to keep the money you raised if you meet your campaign goal. If you don’t meet your goal, you won’t receive any funding, and no fees will be charged.

 

*Note: You are allowed to set a funding period of 60 days, but Indiegogo recommends setting it for less than 40, even 30, to give the backers a sense of urgency.

Payment Processing & Wire Fees

Aside from the platform fee, Indiegogo also charges a transaction fee every time they send your funds to you. The payment processing fees amount to 2.9% + $0.30 for every pledge made by third-party credit cards. Also note that you will be charged a $25 wire fee if you transfer USD to a non-US bank.

The payment processing fees depend on the location and currency that you ran your campaign with. After reading this Indiegogo review, it’s recommended that you consult with your bank. You should enter the bank information for your campaign only and only after doing so. Indiegogo doesn’t hold itself responsible in case of any additional fees your bank may charge.

 

*Note: You will start receiving the funds you raised within 15 business days after the end of your campaign.

Indiegogo Analytics

Any Indiegogo review you read will include a section about Indiegogo analytics, and it’s not for nothing. Data is your best friend if you want to run a successful or even a million-dollar campaign, so here’s what you can expect from Indiegogo in this regard.

One of the key advantages Indiegogo has over its competitors is the ability to integrate Facebook Pixel. By integrating a little piece of code, it allows you to track the result of your Google and Facebook Ads. This data will allow you to better target potential backers and reach a more relevant audience.

Indiegogo also allows a Google Analytics integration, so you can view real-time data regarding your traffic. Google Analytics provides extremely thorough information about sources, conversions, bottlenecks, and much more.

Last but not least, Indiegogo allows you to access your backer list as it updates. So, you can export this info at any point during your campaign and use it to generate more loyal backers.

Video hosting

One of the main attributes of your crowdfunding campaign page is your campaign video. It is the first thing potential backers will see when they visit your campaign. This Indiegogo review also includes a review of the video hosting options you get. So, let’s get to it.

Indiegogo uses third-party platforms like YouTube and Vimeo for hosting your campaign videos. While competitors have their own video hosting services, Indiegogo’s option is not bad either. Let’s look at some pros and cons of hosting your campaign video on YouTube:

Pros

  • Huge exposure thanks to YouTube viewers
  • Features comment section (can view on Indiegogo page)
  • Ability to share anywhere
  • Ultimately brings higher reach

Cons

  • Hard to get noticed among competition

YouTube vs Vimeo

When deciding whether to use YouTube or Vimeo, consider these differences between them. YouTube can give you access to a more general audience, Vimeo is more for creative types. YouTube is also free, in contrast to Vimeo, where you will need a Pro account for hosting multiple videos. Nevertheless, Vimeo is meant for higher-quality videos, so choose the one that matches you best.

Indiegogo Perks

Here is another crucial part of this Indiegogo review – the perks! Essentially, perks are “rewards” you give to your backers as a thank you for their contribution. Indiegogo allows you to offer 20 levels of perks to your backers. But why should you use perks in your campaign?

In general, campaigns that feature perks get 143% more funding on the platform. Even though perks are optional, using them is a no-brainer. If you were going to back a project, wouldn’t it be amazing to get something back?

Featured perks

Indiegogo gives you the ability to also offer featured perks to your backers. This perk is one of the main attractions for your campaign and appears at the top of the page with a “Featured Perk” label.

Hide old perks

You also have the ability to hide old perks on your Indiegogo campaign page. This way, you can mask the changes that have been made in prices. Your potential backers will just see the cheapest option and go for that.

Secret perks

Here’s yet another type of perk you can use – the Secret Perk. When you set up a secret perk, you will get a special link, and this perk will be visible at the top of the page only through that link. Whether you choose to reward your loyal backers or give influencers a special deal, it’s exciting to think of the possibilities you will get with this perk.

Perk add-ons

Last but not least, Indiegogo offers you the option of perk add-ons. These add-ons can be added onto any existing perk and give backers a custom perk of their own.

 

*Note: You can always keep an eye on the supply of rewards left in your campaign and increase it accordingly. Keeping your supply of rewards low can increase your conversion rates by up to 30%.

Indiegogo Updates

Did you think this Indiegogo review wouldn’t discuss campaign updates? Here’s a fun fact – you can get 286% more funding if you consistently post updates on your campaign page. So, if you’re still asking yourself, “how does Indiegogo work?” this is a significant part of it.

It takes lots of convincing to get potential backers to believe in your idea. So, it’s important to keep them updated on your progress. This way, you will build better relationships with them and start creating your community.

According to Indiegogo, you should be posting updates twice a week when your campaign is live. Optimally, one of those updates should be a storytelling piece that will inform your backers about advancements you’ve made during the past week. Pack it up with some pictures or videos to make it extra engaging. The second update you send during the week should be promotional, talking about a fresh perk, special add-ons, or a new stretch goal.

 

*Note: Indiegogo won’t allow you to edit your update once posted, so make sure it has no mistakes.

 

As a promotional platform, Indiegogo will automatically send the update to all the backers via email, so they’re always informed and get notified.

InDemand

One of the main advantages Indiegogo has over its competitors is its InDemand program. So, what is InDemand? With InDemand, you can essentially extend the duration of your campaign indefinitely and keep raising money, growing the community you built around your product, and much more.

There is only 1 criterion for joining InDemand – you must meet your initial campaign funding goal. Plus, you can join InDemand even if you started your crowdfunding campaign on another platform. Although your fees will increase from 5% to 8%, it’s still worthwhile.

Since this full Indiegogo review wants to give you all the info you need, here are the main advantages of InDemand:

  • Keep receiving exposure from the Indiegogo platform.
  • Keep up with the community you already created around the product page.
  • Set it up in just a couple of minutes.
  • Join from any crowdfunding platform.
  • Keep receiving funding (sent to you every 4 weeks).
  • Update or modify your page as you go.

Customer service

To conclude this Indiegogo review, let’s talk about one of the most integral parts of any platform – customer service. Indiegogo features an extremely thorough Help & Support section on their website. You can find virtually all the answers to your questions through their articles and FAQs. They have information for backers, campaigns, payments, trust operations, accounts, legal, and much more.

In case you don’t find the answers to your questions, you can contact their customer support as a last resort. The main downfall is that they don’t have a live chat or phone support service. Nevertheless, compared to their competitors, Indiegogo has a pretty good responsiveness level.

Conclusion

Let’s sum up this Indiegogo review. The platform is an excellent space for amazing ideas that require funding. It gives you the ability to create a community within your backers and access their information right from the get-go. It also provides thorough analytics integrations, flexible or fixed funding options, allows you to feature perks, updates, and much more. Plus, the application process is easy, and you get exposure to millions of potential backers, even after you reach your goal and end your initial campaign.

If you’re looking to create a crowdfunding campaign that’ll reach its full potential, Indiegogo can be the platform that’ll help you get there. Simply head to their website and click on “Start a Campaign.” Last but not least, good luck!

Angel Poghosyan

Angel Poghosyan

6+ years of doing content, marketing, and strategy for startups & businesses. Specializing in social media, entertainment, and tech.

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