Here at Launcht we just finished pouring over the 2013 Crowdfunding Market: Software and Solutions Report. The report, released in late June, is geared toward prospective crowdfunding platforms. It offers insight on major topics and questions that any new portal must address, be it a startup crowdfunding site or a university crowdfunding initiative. Key topics include the choice of a revenue model and the importance of unique positioning within the increasingly popular space. For Launcht, the most relevant section of the report focused on the choice that our customers face every day: do I build a platform from scratch or buy a ready-made solution?
The report frames the build-buy choice as a negotiation of two factors: first, the platform’s uniqueness of need (read: do you need highly customized functionality for your crowdfunding site) and development experience (read: can someone in your organization build and maintain a portal). It then summarizes the choice into a handy 2×2 matrix, and recommends that white label solutions are perfect for platforms with low web development capacity and little need for a unique solution.
We agree, but also know that with our industry-leading feature set, what others might call a highly unique need, we call standard options. We are lucky to have easy customizations built into our system that would likely require additional development with another platform provider. So, even when our clients have special functions in mind and ask for a personalized look and feel, we can usually accommodate them with our core product. Returning to the build-buy matrix, we also know after working with 70+ clients in the crowdfunding and crowdvoting space that there are two more factors affecting the build-buy decision.
Time and money.
Both are scarce for any new startup or initiative. A non-profit may have a highly specialized need but a limited budget. An organization with plenty of development expertise might not have the bandwidth to write completely new code for a crowdfunding site. These are both scenarios when a white label crowdfunding platform makes sense. Launcht is proud to have worked with clients with every combination of development expertise and unique need, and know that we can step in to save our clients resources, be they human or financial.
Click here to learn more about our crowdfunding packages.