This article was written by Abigail Schulz, at Continuetogive.com.
Crowdfunding can be an effective tool to raise funds for all kinds of projects. Schools, non-profit organizations, and business start-ups are all using crowdfunding to bring in extra revenue and more and more individuals are turning to crowdfunding platforms to fund adoptions, medical procedures and mission trips.
With this medium becoming so popular, are people getting “lost in the crowd?” Here are a few ways that you can stand out from the crowd and engage with donors online.
1. Make a Plan and Stick to It
Developing a fundraising plan early on can prevent hiccups down the road. Establish a realistic fundraising goal up-front and choose your projects wisely. Write up a clear and concise story that explains your monetary needs. Once you’ve decided to raise money online, choose your crowdfunding platform wisely.
Some sites charge fees in excess of 7% for their services. Ours only charges 3.9% + cents per donation. Depending on the nature of your cause, you might be able to tie your project into the efforts of a non-profit or religious organization, providing tax benefits for your donors.
Think about what you want your profile page to look like. Make your site personal. Add pictures and stories. In some cases, you’ll want to tie in incentives, like tee shirts or “membership” opportunities. Be unique. If you want to prevent “being one of many,” you’ll need to stand out from the pack through creative means.
Decide who your target will be. Are you reaching out exclusively to family and friends, marketing to classmates or colleagues, or extending your network to friends of friends and the general public? Your strategy should be tailored to your needs and the needs of those who you want to donate to your cause.
2. Research Social Media Trends
Successful crowdfunding relies heavily on social media pushes. Devote some time to researching social media trends. It’s perfectly okay to post multiple updates on your project, as long as it’s done strategically.
In some cases, you’ll want to create a designated social media page or profile for your projects, in others, it’s better to disseminate information using your personal profiles. Plan your posts. What works for Twitter does not always work for Facebook.
You wouldn’t like it if the only interaction you had with someone was when they asked for money. Remember to engage your social media contacts. Answer inquiries and respond to comments quickly and appropriately.
People are more apt to share your story when they feel like a part of it. Acknowledge your donors but don’t blast them with constant requests. Providing updates can encourage continued giving. Over-the-top requests and “calling people out” can wear patience thin.
3. Say Thank You
A little bit of heartfelt thanks goes a long way. Don’t over-thank, but consider thanking donors in multiple ways. An email, text, online thank you, or “shout-out” via social media can be shared with others, expanding your network. Others appreciate a more personal touch. It’s perfectly acceptable to make a call or write a note for a gift that you appreciate.
Forgetting this vital step is not only rude, it can cause donors to become exasperated with your project. When you develop your funding strategy, it’s a good idea to create multiple thank-you templates, that can be customized based on the audience and the medium.
4. Embrace Diversity
Asking the same networks for money over and over again can quickly lead to burnout. Mix things up so that you are not bombarding contacts with constant requests. Add diversity to your fundraising plan by reaching out to multiple sources and by utilizing multiple mediums.
Tying your crowdfunding project to mobile giving options, for example, can maximize your overall reach. If you’ve already offered tee-shirts as an incentive, switch to coffee mugs. Incentives can be as simple and inexpensive as a photo or a card.
Look into websites and organizations that allow guests to promote their crowdfunding projects. Offer exchanges with other fundraisers, so that you can share with their networks, and they can share with yours. Expand your network by inviting friends and family to share your efforts. Information moves quickly over the internet, so be prepared to change direction when needed.
Raising money online via crowdfunding is an effective and easy to implement fundraising strategy.
With some advanced planning, consistent monitoring and thoughtful management, you can raise money and avoid getting lost in the crowd.
Conclusion
You can learn more about the ContinueToGive online fundraising platform here. If you have any questions about online giving, feel free to leave a comment below!
For more information, check out Abigail’s other articles about nonprofit crowdfunding and online fundraising here and here.
