By Crowdfunding has emerged as a popular way for entrepreneurs, businesses, and causes to raise money online. However, many people are unsure of how to set up the technical infrastructure for building a crowdfunding platform. This article seeks to do that process by walking through how to install crowdfunding software and integrate it with Amazon Web Services EC2 instances to have it up and running on the cloud.
Understanding the Benefits of AWS EC2 Instances
- Amazon Web Services provides scalable computing capacity in the cloud through Elastic Compute Cloud (EC2). Using EC2, one can launch virtual server instances to host your crowdfunding platform.
- EC2 offers many benefits like flexibility, easy scaling, pay-only for usage, a global network of data centres and automatic software updates. Choosing the right EC2 instance type is important for the smooth operations of crowdfunding platforms.
- The first step is to sign up for an AWS account if you don’t already have one. Then you’ll need to choose between the different types of EC2 instances offered – T2 Micro, T3 Medium etc.
- For most basic crowdfunding sites, a T3 Medium instance with 2vCPUs and 4GB of memory would easily suffice. It is a good balance of compute, memory and price. Some key things to consider when choosing instances are budget, intended users and scalability requirements.
Installing the Crowdfunding Software
Once the EC2 instance is launched, you can log in and begin installing the crowdfunding software you have chosen. Upload the crowdfunding platform open source code files to your EC2 instance using the SFTP client. Unzip the files and follow the documentation to complete the setup process which involves database configuration etc. Make sure to install all dependencies and extensions as outlined.
Here are the instructions for setting up the server to install the crowdfunding software platform: https://www.fundraisingscript.com/server-requirement.php
Configuring the Database in AWS
- Most crowdfunding platforms require a database to store project data and user information. Amazon RDS (Relational Database Service) is a managed database service from AWS to set up and operate relational databases.
- You can launch a database instance from the RDS dashboard. Select the database you want – MySQL, PostgreSQL etc. Next, configure the database user, name and credentials.
- Once the database is launched, you will need to connect the crowdfunding platform installed on EC2 to this RDS database. Update the database host, name, user and password in the platform configuration file.
Setting up Server Security
- Now the infrastructure is complete but some security measures need to be implemented. EC2 instances are exposed to the public by default which is a security risk.
- You should allow access to the server only through SSH by configuring security groups. Restrict inbound access to ports 22 (SSH) and 80 or 443 (HTTP/HTTPS) with your external IP address as the source.
- Also, install and enable a Web Application Firewall like AWS WAF to protect against common exploits and vulnerabilities.
- Enable login protection and use strong passwords as basic user account security.
Launching the Crowdfunding Site
You can launch the site with the crowdfunding software installed, the database configured, and security measures implemented. Point your domain name to the EC2 instance IP address if you have one or use the Public IP address/Public DNS to access the site. You may see installation or configuration pages based on the platform. Follow those steps to complete the setup like creating admin users, setting up roles, payment gateways etc. Promote your new crowdfunding platform on social media to get your first projects listed.
Scaling the Infrastructure
As traffic and usage of the crowdfunding platform grow over time, you may need to scale up resources. AWS makes it very easy to increase instance types, add more instances behind an Application Load Balancer for high availability or increase database storage as needed. You can set up auto-scaling rules based on CPU or memory metrics using the AWS Auto Scaling service. This ensures your site performance remains fast even during fundraising peaks or flash campaigns. AWS billing alarms can notify you of usage and costs.
Customising the Software
Once the basic setup is complete, you may want to customise the look and features of the crowdfunding platform to suit your needs. The control panel and documentation of the fundraising script allow for adding custom fields, pages, payment options, and tailored designs. You can even hire developers from their marketplace to integrate additional personalization as per your crowdfunding platform development requirements.
When customizing crowdfunding software, it’s essential to consider features that align with your specific business model, niche, and user needs. Here are key points to focus on:
Platform Type & Niche Focus:
Equity, Donation, Reward, Real Estate, or Hybrid: Choose a niche or combination that suits your business goals.
Niche-Specific Customization: Include features catering to niche needs, such as investor dashboards for equity crowdfunding or real estate listings for real estate crowdfunding.
User Interface (UI) & User Experience (UX):
Custom Branding: Allow personalized logos, colour schemes, fonts, and designs.
Responsive Design: Ensure seamless user experience across mobile, desktop, and tablets.
Custom Navigation: Tailor the user flow, including registration, project submissions, and investment processes.
Payment Gateway Integration:
Multiple Payment Options: Integrate various payment gateways (PayPal, Stripe, bank transfers) to cater to a global audience.
Escrow Services: Include an escrow service to hold funds until specific milestones are met.
Custom Fee Structures: Implement flexible fee structures (percentage or flat fee) for transactions and platform use.
Crowdfunding platform revenue fees structure management system
Investor/Donor Tools:
User Profiles: Allow investors/donors to customize profiles and track their contributions.
Crowdfunding platform edit profile feature
Investment Dashboards: Give investors a real-time view of their investments, ROI, or donation impact.
Crowdfunding platform investor dashboard layout
Communication Tools: Enable direct messaging between project creators and investors.
Crowdfunding platform communication between project creator & investors
Security & Compliance:
KYC/AML Compliance: Implement customizable Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols for crowdfunding.
KYC in crowdfunding platform
Data Encryption: Ensure data privacy with SSL and other encryption standards.
Two-Factor Authentication (2FA): Offer 2FA for enhanced user account security.
Custom Workflows
Campaign Review Process: Create custom review workflows for project submissions and funding approvals.
Investor Payouts: Customize payout schedules based on platform needs (e.g., monthly, per milestone).
Referral & Affiliate Programs: Allow integration of referral/affiliate systems with custom incentives.
Reporting & Analytics:
Custom Reports: Generate tailored reports for platform owners, creators, and investors.
Real-Time Insights: Include real-time tracking of platform performance metrics.
Campaign Metrics: Customize indicators to evaluate campaign performance and success likelihood.
Scalability:
Design: Ensure the crowdfunding platform is customizable, allowing for easy scaling and the addition of new features.
APIs: Offer open APIs for integration with external tools, payment processors, and other services.
Customizing crowdfunding software ensures that your platform fits your specific business needs and offers flexibility for growth. These key points offer a comprehensive view of the customization possibilities.
Ongoing Administration
After launch, the ongoing administration of the site involves moderating projects, responding to users, analysing stats, managing payments etc. The crowdfunding platform provides reports to keep track of individual transactions i.e. successful, failed or refunded. The Admin or platform owner can track the activities from the platform admin dashboard.
Crowdfunding admin to track transaction
Crowdfunding admin dashboard view.
Promoting Crowdfunding Projects
Reaching the right donors/investors and high project success is key. You can utilise the built-in social sharing and email features of the crowdfunding software. Other options are running paid ads, forming alliances with other organisations and seeking coverage from media, blogs and influencers. Analysing which past campaigns or project types were most successful also helps refine future promotion strategies. White-label crowdfunding software comes with a pre-integrated email marketing tool like Mailchimp for sending newsletters & updates about new offerings on the platform.
Payment Settlements
As projects get fully funded, the collected payments need to be transferred to the project creators after deducting platform fees & respective payment gateway fees. Most software integrates with gateway support in their local or respective region where they want to launch their crowdfunding platform to receive money which then gets deposited into creators’ bank accounts by the platform owner. It is important to maintain financial records transparently to build donors’/investors’ trust in the platform.
Software Upgrades
Crowdfunding is a rapidly changing space with new features and technologies. Keeping the platform software upgraded ensures access to the latest tools. fundraising script releases upgrades with improvements based on technology version updates. to their support and upgrade packages provides access to timely upgrades as well as priority help with any installation or customization queries. This ensures the platform stays competitive. Below are the points covered by the fundraising script under the crowdfunding software support period.
- They provide a dedicated account manager to seamlessly handle updates and customization requests.
- The support period includes comprehensive bug fixing and technical assistance.
- Clients benefit from a prompt response to any tickets raised, with the project management team taking immediate action to resolve issues efficiently.
Conclusion
By leveraging AWS cloud services like EC2, RDS, WAF and others, entrepreneurs and non-profits can easily set up cost-effective yet scalable crowdfunding sites. AWS removes the need for upfront infrastructure investment and allows a pay-as-you-go model. Choosing the right instance types, installing and configuring reliable crowdfunding software and implementing the security measures discussed are key to successful crowdfunding campaigns. The fundraising script provides an advanced white-label crowdfunding platform that seamlessly integrates with the AWS ecosystem.
