In recent years the growth of nonprofits and the success of their impact has significantly been supported by their ability to achieve successful crowdfunding campaigns. In contemporary days crowdfunding has changed the whole arena of fundraising and has replaced other traditional means of collecting money. With digital media and online crowdfunding, not only raising funds has become the more convenient and easy it has also become the most efficient and reliable source of generating support and funds.
Following are a few reasons why every nonprofit should try crowdfunding:-
Not only crowdfunding helps in collecting funds the most convenient way it also a great and convenient way to raise awareness for an issue. Crowdfunding campaign attracts a lot of attention and people are actually interested in knowing about what is it that you are working for. Even though there might be many charitable individuals out there they might be less knowledgeable about the many obscure issues which might be very crucial.
You might find it hard finding people to support your cause the traditional way. Not everyone in your locality or community might be interested or be able to understand what you stand for. Online crowdfunding opens the gates to lots of potential donors whom you might not have been able to get in touch with previously.
According to CSR guidelines, some companies are required to donate 2% of their profits to non-profits. It might be beneficial for an NGO to put itself on a platform to grab the attention of these companies. Crowdfunding provides that exposure and helps in tie-ups with corporate giants as they themselves are looking for meaningful initiatives to attach to and build a social brand for themselves.
Often it can be hard for people to donate money. After all, it is their hard earned money and they might feel a bit distrustful if they haven’t heard about you before. But online platforms help you gain supporters. With a wider audience and your existing support group backing you up on a global platform, the initial inhibition of the potential donors will reduce. And with accountability that is at higher risk, people will trust you to use your money well. Even post-crowdfunding campaign if you keep them in loop of how you are using their funds and what targets you are achieving, you will have supporters for many years to come.
There is, even more, a reason to try crowdfunding. Raising funds the traditional way does have its charm but on a bigger scale and for a greater success this contemporary style of fundraising is more profitable. Crowdfunding is an interesting and innovative way of raising money for charities. It not only makes fundraising easier but fun too. Most important of all it brings people and communities together and gives access to individuals to make an impact. Tapping into these resources, crowdfunding helps bring the best of a non-profit’s potential forward.