How we rank for
12% Transaction Fee
The transaction fee covers both the processing fee (if there is one) and any automatic deductions the company may apply to each transaction. The higher the fee, the lower their overall score.
11% Completion Fee
Some crowdfunding companies charge consumers a fee once/if they complete their campaign. This fee is usually a percentage and does not include the processing fee, which falls into the transaction fee category. The higher the fee, the lower their overall score.
11% Partial Fee
If you do not complete your campaign, most crowdfunding companies will charge you a fee. This fee is usually a percentage and does not include the processing fee, which falls into the transaction fee category. The higher the fee, the lower their overall score.
- We asked a group of more than 1,000 random people what factors had the most impact on choosing a crowdfunding website/company if they were to set up a campaign. 38.1 percent of those people believed that “Fees” were the biggest determining factor. This survey confirmed that fees play a big part in choosing a crowdfunding, and has helped the Review Team put a higher weight on fees then other criteria factors.
- The rest of the results for this survey are as follows: Fund Type (19.7%), Receiving Funds (14.3%), Administrative/Managerial Features (13.4%), Deadlines (12.3%), Other (2.2%).
There are three main types of crowdfunding models: personal, equity and rewards. Personal crowdfunding uses friends, family, and others to donate money to an individual cause. Equity crowdfunding is where the investors receive ownership or equity in return for what they contributed. Reward crowdfunding is where consumers will receive a type of reward for their contributions. The rewards can be a discount on the service, the product itself, a t-shirt, or other perks. There are benefits to each of these models, but the company that offers more options gets a better overall score.
8% Fund Type
There are two primary types of funds in crowdfunding: All or Nothing or Keep What You Raised. In All or Nothing types, if you don’t reach your total predetermined monetary goal you don’t receive any funds. In Keep What You Raised types, you receive all funds donated even if you fall short of a specific monetary goal. We give a higher score to companies who practice the latter.
8% Receiving Funds
After a successful crowdfunding project is complete, you as the owner will want your funds released and in your account as soon as possible. Companies that are able to make these deposits faster are given a higher score.
It is understandable to make deadlines for consumer’s campaigns. The longer time frame given for a particular campaign will generate a higher score.
3% BBB Rating
A company’s Better Business Bureau rating can be a good indicator of how they treat their customers. While it is understood that some individuals may not think it’s a completely accurate measure of a company’s ability to serve customers, it still is an important metric to consider. Higher BBB ratings yield higher scores in this area.
15% Consumer Reviews
This site is designed to let consumers share their experiences. Given our expertise in many industries and the knowledge that we have gained over the years, we know that some of the most important opinions come from real customers. That is why we have allocated so much of our overall rating to the voice of our validated customer reviews. The Consumer Reviews Score is broken down into three metrics:
- The Average User Score
- Total Number of Reviews
- Total Number of Reviews in the last 12 months
These 3 metrics not only help us understand what consumers are saying, they also help us gain an understanding of volume and recency. All of which are critical to understanding the value of a company in the eyes of the consumer.
Note: this is different from the user score that is displayed on each company profile. The “user score” that is publicly displayed is the average of all user scores published for a given profile.
User Review Moderation
In order to prevent fake and misleading user reviews, BestCompany.com has a review moderation team specifically assigned to moderating all user reviews for all companies listed on the site. This team follows a very specific and strict moderation process that has been designed by gathering learnings from mistakes other major review sites have made in the past.
This moderation process involves a “flag” system where a flag is assessed for each negative attribute associated with a user review. Too many flags result in a disapproval of a user review. Some of the things our moderation staff looks for and assigns potential flags to include:
- Email address verification of the user
- IP address duplication and region check
- User review semantic verification
- Is the user an employee of the organization?
- Is the user associated with a competitor of the organization?
- Foul language of any kind
- Relevance of the content pertaining to the company and the review
As you can probably tell, we take our user review moderation process very seriously. We believe accuracy and authenticity is critical when it comes to user reviews, and as a result we are constantly finding new ways to evolve our user moderation process to make it better. Please note that while we do our best to manually moderate each and every user review, mistakes can be made; however, our dedication to resolving errors in our process is what sets us apart from other review sites in the industry.
18% Expert Review
Along with the criteria points mentioned above, we take into account a variety of other factors that help determine the viability, stability and trustworthiness of a company. As experts, we conduct an extensive research process specifically tailored to each industry that considers many additional factors including:
- Financial Standing of the organization
- The number of industry experts and professionals on staff
- The company’s ability to scale
- Historical revenue/growth
- Past and current lawsuits
- Customer service and transparency
- And much more.
We consider this Expert Review process a vital component of how we rank and review companies. As a result, the factors included are always changing, adapting, and updating. We also reserve the right to voice our expert opinions as a part of each review.