Are you looking for crowdfunding success?
I want to officially acknowledge crowdfunding as a smart strategy that can capture new major donors and raise serious money – all in one day.
And I like the idea of turning it all into a social media party and letting everyone have fun with it too!
We have a fabulous guest post from crowdfunding expert Rachel Ramjattan, CFRE today.
Rachel’s sharing the special sauce that will guide YOU to take advantage of this emerging new strategy.
Here’s Rachel Ramjattan’s Take on how to Create Amazing Crowdfunding Success for YOUR organization:
Is crowdfunding/peer-to-peer fundraising included in your #GivingTuesday and year-end fundraising plans?
If not, you might want to rethink your strategy.
- In 2015 donors gave $34.4 Billion through crowdfunding and that number is expected to double in 2016.
- Peer-to-peer fundraising represents more than 23% of all online giving.
- The average nonprofit crowdfunding campaign raises $10,000!
If you’re not using crowdfunding strategies to energize your fundraising, you’re missing out!
So what is Crowdfunding, Really?
Crowdfunding, also known as social fundraising or peer-to-peer fundraising is the process of raising money from a large group of people, usually via the Internet.
Crowdfunding has been around for more than a century.
In 1884, Joseph Pulitzer got 160,000 New Yorkers to donate $100,000+ to build the pedestal of the Statue of Liberty.
Since then, many others have raised money with this technique. Remember the Salvation Army Red Kettles during the holidays or the many walk-a-thon’s you may have participated in over the years?
All these were forms of crowdfunding
– a large number of people donating to a single cause.
Today, crowdfunding is much easier to implement using technology and social media.
The recipe for success is simple. You need:
- A project that needs to be funded
- People interested in your project
- A platform to connect the two.
Sounds a lot like #GivingTuesday, doesn’t it?
Here’s How Crowdfunding Can Help You Make a Big Splash on #GivingTuesday.
- Make a list of donors that gave $(your threshold for major donor status) or more last year.
- Challenge these donors to become #GivingTuesday champions by creating personal fundraising pages.
- Show them how they can score gifts for your organization by inviting family and friends to give using their initial donation as a matching gift incentive.
- Choose your platform, create your templates, and empower your champions with “How to” tools like, How to Raise $250 Quickly, or How to Create Your Page, and frequent updates via email and social media updates.
- Have fun! Offer prizes/bragging rights for fundraisers such as:
- First to secure a donation.
- Largest single gift.
- First to raise $250, $500, etc.
- Gift from farthest place.
- Donation from a different country/continent.
- First gift amount that has a (any number you choose) in it.
- Gift from donor closest to your organization’s head office.
- Champion with a single donor that makes more than one gift.
- Most new donors.
- Create a stewardship plan to welcome new donors and appreciate existing donors that supported your #GivingTuesday campaign!
Benefits of Crowdfunding & Peer-to-Peer Fundraising
Crowdfunding has benefits that exceed the value of the financial transaction.
- You’ll make new friends, many of whom may have similar giving capacity to the champion that solicited them.
- You’ll renew support from existing donors early in the year-end fundraising process.
- You’ll create “buzz” about your organization on social media channels.
- Your champions will enjoy making a bigger impact on the cause they love.
To learn more about crowdfunding your way to year-end fundraising success, be sure to join Rachel Ramjattan, CFRE, for her session in our Create Your Best Year-End Campaign EVER Master Class series.
Rachel Ramjattan, CFRE is the Founder and Principal of Nonprofit Plus, LLC, dedicated to “helping you get better at doing good.”
With more than 20 years fundraising experience you can depend on Rachel to provide you with the tools you need to raise money for your cause. Connect with Rachel at www.nonprofitplusteam.com, www.facebook.com/nonprofitplusteam, or tweet her @RachelNPP.