Over the course of the years, crowdfunding has captivated the interest of individuals, as it allowed them to raise funds for practically anything and everything under the sun, rather than being dependent on organisations or single sponsors. It helps individuals to reach out to relatives, friends, and peers in a more sophisticated manner with formal bearing by stating a proposal and putting forward a case.
“The global crowdfunding market is estimated to reach USD 28.8 Billion with a 16% increase from CAGR in 2018 to 2025.”
If you want to raise funds for either your own personal needs, or help someone else raise it, there are multiple platforms to do the same.
But before you start off creating a fundraising page, there are 5 things to consider, that will make your fundraising more systematic and impactful.
Identify the issue- If you want to convince the world to donate to your cause, you need to be convinced yourself first. Crystal clear clarity on the why, what, where, when, and how?, will help you understand the problems and how your fundraising program can help solve it. Be it a medical emergency, Creative Projects, Trips and Adventures, Sponsoring Volunteers, Cancer treatment and Awareness, Animal Rescue, supporting an NGO for their overall work or cause-based campaigns (disaster, disability, environment, health access, etc), there are a plethora of possibilities one can choose from. Once you have identified your cause, start with your research. Indiadonates, an online fundraising platform actively works on cause-based fundraising on 8 thematic areas.
Building blocks - Try to build your campaign around the problems and the solution that the fundraising will have on the cause. At an individual capacity what you are trying to solve and how do you intend to it. People always love anecdotes and stories, and Individuals can attach a lot of value to a campaign by describing their experiences. It is all about making meaningful connections with prospects. Your Campaign should reflect your determination and the donor should be able to extrapolate a takeaway.
Budget and Schedule – It is important to breakdown your total target into smaller tangible amounts for the donors to believe in you. For example, the cost of an operation, medical expenses, room charges, etc, should be broken down to gain the confidence of the donor, who would then know that their money is not being swindled away. And while you create small & large budget buckets, keep a deadline. It adds urgency to the cause and helps you to plan a better programme.
Target the low-hanging fruits - Once you are live, do not expect a massive footfall on your page without effort. Try to reach out to the low-hanging fruits- your family and friends, social groups etc. The more people open and share the better the chances of outreach, it will also validate your campaign. Try reaching out to social media influencers, and seek their help. Even a single share from their handle along with a personal CTA can fetch you good results, and double your chances to reach your target.
What’s going on– If an individual has invested their time and money, they likely want to know and learn about your journey. Keep them informed, through each milestone that you reach. Thanking them along the journey helps build camaraderie. Show them how their support helped make a difference and share success stories.
Large scale penetration of social media in the remotest corners of the world has brought small and big communities together, but how we try to leverage the technology for our own benefit rests on us. A fundraising campaign is not all about the amount and target, it is also about a mindset shift towards a cause. And to measure the impact empirically, one should use insights tool of different social media to understand how their audience is interacting with the posts.
