Why Kickstarter is King
Have you heard of RocketHub, Patreon, Crowdfunder – no? Don’t worry, neither have I. It’s not surprising that very few people know about these “other” crowdfunding sites, what with Kickstarter literally dominating the industry. But exactly what is it about Kickstarter that has propelled it into the position of top crowdfunding site?
Well, it’s definitely not because of its geographical reach. Kickstarter is restricted to the US, UK and Canada, while its biggest competitor Indiegogo is international. Not only that, but Kickstarter is one of the only crowdfunding sites that doesn’t allow its creators the option of keeping their funds even if they miss their goal.
As of today, Kickstarter has had over $2 billion pledged to its projects, 100,151 successfully funded projects and an estimated 5.5 million visitors per month to its site. To put this in perspective for you, Indiegogo only has an estimated 919K monthly visitors and RocketHub barely makes the cut with 32K. Because of its high traffic, Kickstarter creators can consistently count on tons of exposure for their projects.
This leads me to one of the biggest reasons Kickstarter is the most successful crowdfunding site. Because of its insane monthly traffic, Kickstarter garners a lot of repeat creators – creators that come back after successfully funding a previous project. In fact, nearly a third of all money pledged on Kickstarter is generated from repeat creators.
Smaller companies can’t compete with big brand names like Apple; Kickstarter combats this problem by providing them with a direct line to a community of their most engaged customers. This is the reason behind repeat creators’ success rate, which is nearly double that of the overall site average.
Kickstarter dominates the crowdfunding business because it doesn’t allow just anybody to launch a campaign. Donators know the projects on Kickstarter are legit and keep coming to the site, while creators know Kickstarter is the only crowdfunding site that will gain them massive exposure. Kickstarter is king of the crowdfunding industry, and it doesn’t look like it will be toppled anytime soon.