Is a Crowdfunding Plugin for WordPress a Good Option for You?

In this post, let’s draw the comparisons between using a Crowdfunding Plugin for WordPress and using Kickstarter to see if we can gain insight into how The House of Lions raised over $13,000 on their own website using the IgnitionDeck crowdfunding plugin for WordPress.

[button link=”http://ahouseforlions.com/debut/” color=”teal” window=”yes”]View A House For Lions Crowdfunding Project[/button]

The House of Lions is the first band I’ve found who’s done a Kickstarter-like album fundraiser on their own website. This leads me to ask, is this the direction crowdfunding could go for bands and artists?

Do we actually need the Kickstarter platform?

What does Kickstarter Provide That Our Own Website Can’t?

1. Trust instilled by association with a third party brand – When a fan or friend clicks a link from your email they end up on the Kickstarter website and they can immediately tell that Kickstarter is a solid brand trusted by millions of people and featured in NPR, CNN, The New York Times, TIME, BBC, WIRED, and more. Just mentioning the name in the same sentence as your band name can transfer credibility to you.
2. Social proof that crowdfunding is accepted by the masses – Social proof is a powerful element of internet marketing. When someone clicks around the Kickstarter website, it’s obvious that millions of people are using the site to launch crowdfunding campaigns and back other people’s projects. Knowing that you’re about to use a platform that “everybody else” has already been using is a powerful social trigger that drives you to “find out what everyone else apparently already knowns”.
3. Smooth, flawless infrastructure, functionality  and design – A well refined platform like Kickstarter has a look and feel and design convention that breeds trust and ease of use as well as proper flow that leads to higher conversions of visitors to backers.

How Can These Elements be Used on Your Own Site?

The House of Lions use of a WordPress crowdfunding plugin proves that it’s not a deal breaker if you don’t use Kickstarter. Here’s the big take-away that can help you trump the above mentioned selling points of Kickstarter for your band:

1. You have something that Kickstarter will NEVER have: a direct relationship with people – Kickstarter gives you the venue for your “show”. You’re the one who brings the people to the party. If your band doesn’t already have a Circle of Influence, you’re not going to succeed on Kickstarter and you’re not going to succeed with a WordPress plugin on your own website.
2. You’ve already earned the trust of your Circle of Influence – You don’t need Kickstarter in order to make your fans trust that the transaction is secure and that you’re going to follow through with your promise.
3. Design, functionality, and cost – The big downfall of fundraising on your own site is ensuring smooth operation for backers, handling glitches, and simple, effective design. As we see from The House of Lions, the design isn’t slick and flawless like Kickstarter, but it’s more than enough to raise the same amount you would have raised on Kickstarter, plus you’re saving 5 or 6% percent which can translate to hundreds or even thousands of dollars.

NOTE: Kickstarter uses Amazon to process payments which costs 3%-5% and Kickstarter takes 5% (totaling 9% off the top of your total amount raised). Compare that to a $60 plugin plus around 3% for Paypal fees and you’re saving some serious cash.

The Takeaway

Crowdfunding for musicians is still in it’s infancy and it’s growing fast.  We can only assume that as it moves closer to mass adoption it will evolve in plenty of unpredictable ways.

One thing is for certain, though, it’s currently the most powerful and effective way to release your art while keeping all of the control in your own hands.[hr]

Of the 100′s of interviews we’ve done with project creators, the thing they ALL had in common was that they studied other successful music Kickstarters.

If you’re just now beginning your crowdfunding journey, start with our 100 Music Kickstarters To Learn From series, and sign up for our 5 part email lesson in the sidebar.