8 Ways How Crowd-funding is Similar to Fundraising

Fundraising can be online as well as offline. Digital fundraising is the process of raising funds online using mobile phones or other devices used to access internet. Online mode of fundraising lets you respond in a prompt straight way, reducing the time and energy involved in other ways.

Crowd-funding, is one of the top most techniques used by organizations to collect funds. It is a popular method of fundraising. It allows people to donate on a small scale rather than asking for big donations at first.
But have you ever wondered how has crowdfunding increased your organization’s fundraising process? And how do the two go hand in hand?

Crowdfunding is also known as peer to peer fundraising as it is an incredible tool for reaching out to a large number of people, and their contributions. It helps in gaining new supporters and expanding the organization’s fundraising process.

But the question that arises here is that how does it work?

All you need to do is to hand over the necessary tools to Crowdfund and as they will beseech it on social platforms, to their families, friends and more, you would have reached dozens of new donors.

Crowdfunding is perhaps the most useful method of raising funds. Crowdfunding thermometer is an amazing representation which let you know ‘how much your organization has been able to raise’, ‘how much more money you are aiming to raise and for what cause or purpose’, ‘how many donors contributed’, etc.

While deciding and planning a mobile crowdfunding campaign, it is very important to keep in mind that your donors are not the only people you are trying to reach. Try to reach as many people as possible, from existing donors to new ones. One of the best ways to reach potential donors and supporters is to get them engaged in your mission, tell them about your goals through videos and blogs. And make sure that your videos are short and brief as people find it too much to watch long videos.

Your mobile crowdfunding campaign has a better chance to become popular if you include solid and shareable videos with a touching message. Some tips on how to make your videos-
• Not more than 7 minutes
• Load well on smartphones with good picture quality
• They are well-shot with a touching message
• They contain a message about the non-profit’s mission

Whether you are hosting a raffle or a fundraising campaign, you must probably be offering some kind of prizes, isn’t? If your event or raffle has no kind of physical incentive, who would like to participate and take out time from their day to day routine? As it is a common point in a crowdfunding campaign to trade unique benefits, commensurate with the level of each gift. For instance, if you are raising a mobile crowdfunding page for raising funds for a shelter of local stray animals, you can offer a one hour dog playing time in exchange for some donation.

The better the benefits, the more people would like to donate. So get creative with good ideas and services to offer, as not every benefit would cost you money.

You might think and believe that what you are doing is right and in the correct form, but nevertheless how great it might seem, there is some or the other flaw. There is always something left out to get the attention of the audiences who have never heard of you or your on-going project.

But if you are involved in crowdfunding campaigns, you might get a chance to get new people to your organization and its project with the help of the people who are already involved and associated with you. Crowdfunders let your campaign have notable business people as advisors and investors and get better investment policy than ever.

The results you get from crowdfunding campaigns are equivalent to the effort and attention you put in fundraising processes using various platforms both on and offline. A lot of work goes into structuring actual investment plans and marketing strategies. And hence, crowdfunding helps in planning and reaching goals of the organization which in turn helps in easyfundraising as more and more people donate. It pushes the plans of the organization and helps in spreading so as to generate awareness among the people to give.

With growing population and technology, the overall crowdfunding industry is growing exponentially, which means that there is a vast opportunity for non-profit organizations seeking funds and contributions.

But what does the data of your organization say? Let us understand this concept with an example- if your funds are coming on an average say around $25 per month, then you must assume a conversion rate of 3% of people who actually fund your campaign. You would like to get in more people and get them to view your campaign. Crowdfunding helps in adding higher dollar amount rewards in your organizations which provides with you the ‘run number’, i.e. letting you know how many backers you will need to get rewards to make your overall goals.

If you are raising funds for your organization to expand via crowdfunding, you need to become friendlier and get in touch with shareholders and potential existing donors. Circle up and get yourself introduced to new people.