Easy Guide to Crowdfunding

BY Amy Wellington CrowdFunding Beat Guest Contributor, 


The activity of raising small amounts of money from a large number of people for a cause, project or a venture is called Crowd-funding. The medium for collecting fund is usually internet. The model of crowd-funding typically propagates either by the project initiator who has proposed the idea, or the individuals or groups supporting the idea, or a platform/an organization that brings the social parties together to launch the idea.

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The crowd-funding industry has been growing enormously. It’s a powerful way of fund-raising. It requires patience, perseverance and resilience. It’s also very time-consuming. Some easy to follow tips can make the fundraising effort a success.

 

  • Plan a smart fund-raising campaign: let your fund-raising effort have a clear beginning and an end with your goals and deadlines in place. Have a Specific, Measurable, Attainable, Relevant and Time-bound (SMART) campaign.

 

  • Get straight to the point: Present your side of the story in an easy and appealing manner to your crowd. Satisfy their urge to understand or solve the problem. The most powerful way of inviting potential supporters is to tell them how and what you care about? How would you deal with the issue? How can the supporters contribute? And how can you keep them informed?

 

  • Put everything in words: Present your story through a picture/image and possible through a video. Keep your words precise, clear and to the point. Put your point forth and ask for funds.

 

  • Trust your network: The best way to reach ‘the crowd’ is through your existing network. It begins with family, friends, colleagues and other personal connections. The network grows and you form your own community of like-minded people.

 

  • Start strong: The more money you raise, the more likely you are to receive funds. Donors firmly believe that they’ll have a greater impact if they fund a project that is nearing its target.

 

  • Communicate like a pro: E-mail communication is very effective. Communicate with your potential donors through personalized e-mails. Don’t forget to have a link or a button in your mail to make a donation.

 

  • Engage people with social media: make the utmost use of social media to reach all possible people by engaging them with information about your campaign.

  • Show gratitude: Recognise and appreciate every donation, big or small. This acknowledgement or a gesture of gratitude will encourage the donors for a second time.

 

  • Analyze your results: If you fail to achieve your targets, analyze your results. Check with your team, analyse data and seek feedback.

 

  • Choose the right platform: Choose a platform or an organization that is a good fit for your goals. Do your research, consider the options and choose a platform that best suits your need.

 

 

 

 

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HEADLINE NEWS

The VergeDonald Trump's terrible crowdfunding site was a microcosm of his political careerThe VergeAnd from the beginning, the site had Trump's populist edge. Zanker boasted that “the reign of Kickstarter's Brooklyn hipsters is over,” referring to Kickstarter's New [...]

Social media, crowdfunding skirmishes encapsulate Endy debateThe Herald JournalAfter that, a campaign with the same goals and the same organizer appeared on a separate crowdfunding site, FundRazr.com. This campaign also drew negative attention on social media, and after a few hours th [...]

FortuneCrowdfunding: Women Better at Raising Money Than Men Are ...FortuneA new study has found that women are generally better than men at crowdfunding.Women are better at crowdfunding than men, shows study | The ...The Independentall 3 news articles » [...]

Wired.co.ukAfter budget cuts, Museums are crowdfunding to preserve historyWired.co.ukIn 2015, the Smithsonian National Air and Space Museum in Washington, D.C. launched its very first crowdfunding campaign to 'Reboot the Suit'. The idea was to raise much-need funds to conser [...]

ForbesWhy Crowdfunding Is Still Booming, Especially For Chinese Tech CompaniesForbesBased on recent media reports, it looks like crowdfunding is now in the "disillusionment" phase of the famous Gartner hype cycle, after peaking a few years back. I will argue that crowdfundin [...]

Yahoo SportsCan crowdfunding save women's college hockey? - Yahoo SportsYahoo SportsNorth Dakota cut its women's hockey program in March, in one of the saddest and most stunning decisions to rock the sport at the collegiate level. “When you ...Gophers women's hockey con [...]

Business Daily (press release) (blog)How Women Trounce Men When Raising Seed Crowdfunding CapitalForbesMale entrepreneurs may account for the majority of business owners raising finance on crowdfunding platforms in the UK, but their female counterparts are far more likely to get the s [...]

TwinCities.com-Pioneer PressWCHA announces crowd-funding campaign to bolster women's hockeyTwinCities.com-Pioneer PressThat mindset led the WCHA to announce a crowdfunding campaign on Thursday to help fund the league's expenses and lessen the financial burden of the seven re [...]

Gamasutra (blog)Gamasutra: Anti Danilevski's Blog - The problems of crowdfunding ...Gamasutra (blog)The Art & Business of Making Games. Video game industry news, developer blogs, and features delivered daily.and more » [...]

YourStory.comA crowdfunding portal ensuring total authenticity of cases, MeHelp lets you donate confidentlyYourStory.comIn March this year, Samiya Hafeez, a 22-year-old woman from Hyderabad, was arrested for running a fake crowdfunding campaign through which she collected almost Rs 22 [...]

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