Crowdfunding is basically a Process of raising fund to complete a project.
Earlier You might have used our Crowdfunding App for Shopify for raising funds to complete Projects on your own choice. Now we came up with a new concept using which the project owner will collect the fund and complete the project on “Customer’s Choice”. The Project owner will make various Project Options for their customers by adding some Rewards on them and customer will be bidding on the Options of their own choice.
In this Bidding Feature, You as a project owner can add new Projects, make multiple project options and add rewards on them for the customers. Once done, Customers can bid on any of the Project Options and can view the Donations & Rewards set on each options.
Once the project is completed, Project Option with maximum bid will be the Winner. Thus, all the customers who bid on that winning project option will get notified via Email. In this way, Customers can donate for the Project Option of their choice.
Let’s understand this Feature in detail:
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To make this Bidding Feature work, first of all you need to configure the settings from the app backend.
GeneralConfiguration: Visit the General Configuration section and select the Crowdfunding Project Type as “CUSTOMER CHOICE” or “Both”.
LabelConfiguration: Admin can configure the labels of the app as per his/her choice.
ThemeConfiguration: Admin can manage the Theme color from this section of the app.
MailConfiguration: From here, admin can configure the mail send to the Bid Winner.
In this way, You can configure the app settings.
How to Add a Project
In order to add a new project, first of all you need to visit the “Project” section of the App. Now, click on the “Add Project” button to add a new project.
Addition of a new project involves three Stages:
1. Project Details
If you configure the Crowdfunding Project Type as “Customer Choice”, you will get this option in the “Project Type” also while adding a new project. If it is set to “Both” then, You will have two options Normal and Customer Choice. so, set the “Project Type” as “Customer Choice” and proceed further.
Select “Project Type” as CustomerChoice.
Enter the Project’sTitle and Images.
Enter the Project’s Goal Amount i.e. the Total amount you need to complete the project.
Set the Project Duration i.e. No of days up to which project will be in running state or end date of the project.
-Lastly, Enter Project Description.
2. Donation & Rewards
From this section, You can add rewards for your customers for funding the project that will be visible on the Frontend with the Project Options.
Here, You need to enter the Minimun Bid and Minimum Bid Incremental amount that will be entered by your customer at the time of bidding for any project.
You can also add Image as well as enter Title & description of the Reward created for the bidders. All the Donation & Rewards will be listed like this (as mentioned in below image). Now, Once you add the donation amount details, Save it and proceed further.
3. Additional Details
Now, if you want to show some additional details about your project to the customers then you can do it from this section of the app.
-You can upload Videos related to the Project.
-Some short description can be added about your Project.
-You can add Risk & Challenges in the completion of this Project.
Once done, Just click on the “Save” button to save these details and finally Click on the PUBLISH button to publish this project.
If you click on “Save” button, your project will be in Pending State.
Now Once you publish the project, it will be in Running state and the same will be visible to your customers on Frontend.
Admin can view the list of all his/her projects in the Projects section of the App.
Front End View
Once the admin adds Projects on his/her end, let’s see how the customers bid on the Project of his/her choice.
How Customer bid on Project of his/her Choice?
Admin can create a Collection from store Backend to Present all the Projects on FrontEnd for customers.
Now, Let’s see how Customers bid on these Projects.Now, once the customer selects any of the Project options, he/she needs to enter the bidding amount to bid on that Project.
Firstly, enter the amount either greater than or equal to the minimum bidding amount then for the next bid, enter the amount as per the minimum bid incremental amount set by the admin.
Customer can also view the total bidding count.
To make this Bidding Feature work for the customers, admin first needs to configure the frontend of this app. So, in order to show bidding page on frontend, You need to paste a code into liquid file as suggested below:
To show BIDDING PAGE:
You need to copy the below given code and paste it into template/customer/account.liquid file:
Once done, Customer can have a “View Bidding” button available in the “My Account” section. From there, customer can view the complete Bidding Details and Winning Auctions.
Once the customer clicks on “View Bidding” button, he/she can view the Bidding Details as shown in below screenshot:
Customers can view the list of Auctions won by him/her.
This is all about the Frontend View.
How to Notify Customers after Project Completion?
Winner will be decided after the completion of the Project. And admin can view the complete details such as list of Winners, Winner’s details, No of backers bid on that project and so on from the “Project” section of the app.
Project Option with maximum bid will be the Winner. And all the Customers who bid on that Option will get a notification mail.
From the Winner Listing section, once the admin clicks on the “Notify” button, the customer will get the mail.
Now, from the mail, customer will click on the “PAY” button to donate the amount for that project.
How will the Winner Donate the Amount?
Project winners will be decided in either of the two cases:-
If the auction running on the project gets ended on the end date set by the admin OR the admin finishes the project manually from the app.
So, whenever the auction ends on a project, the option that receives the highest donation amount will decide the winner i.e. all the backers who contributed to that option (received the highest donation amount) will be the winners. You can check the amount here: Go to App>>Project>>Select an ended project to check the winner>>Action>>View.
In the below-given project (refer the screenshot), you can see that Option 1 has received the highest donation amount:
Now, all the bidders of that option will be the winners. All the winners will receive an email from where they can pay the donation amount.
Once a winner pays for the project, the same will reflect in the app. Check the list of all the winners:-
NOTE:- All the backers will be bidding on the project until the project is running. Once the project reaches its end date or you have finished it manually, a winner will be declared and bidding will be stopped for the rest of the backers. There is no such process of refund to the backers who have not won the auction for the project.