We all may come across certain situations in our life, wherein we need to actually raise funds in order to launch an idea, for a social cause or for medical emergencies. In those situations, we may opt for raising funds through the platform of crowdfunding.
Crowdfunding is an activity, where like-minded people join hands for donating funds for specific purposes. It is a growing technique for fundraising which is becoming essential nowadays.
Success of a crowdfunding campaign is a very strenuous process because people often hesitate to donate funds, until and unless they find it authentic and worthy enough. So, a crowdfunding campaign should be launched very cautiously.
The following key factors contribute to the success of a crowdfunding campaign: -
- The description of the campaign should contain all the relevant information. It should be easy to understand for the audience and also meaningful. If the content is vague, the public will at first hand itself, hesitate to donate funds for this campaign and choose another campaign to donate
- The description of the campaign can be supported by images and videos of the project or the beneficiaries so that public will be able to know that the campaign is authentic. Images and videos in the content will make the crowd understand your need appropriately
- Social media marketing is crucial for the success of the crowdfunding campaign. Platforms like Facebook, Instagram, Twitter, LinkedIn etc can effectively be used to publicize about the campaign. In this way, a large number of people will come to know about the campaign and hence donate for the same
- The crowdfunding platform that you choose will also depend the success of your campaign. The most appropriate and feasible platform has to be selected by the campaigner which addresses all his needs
- The payment options has to be easy for the donor. If there are only limited payment options, then the number of people contributing will also be less. Hence, the campaign needs to have all possible payment options which includes debit cards, credit cards, net banking, mobile banking etc
- Keep your donors updated about the progress of your campaign and also ensure that you have a proper reward plan which maybe a thanksgiving note, or early bird ticket etc. This will build up your supporter base and hence will allow you to easily raise funds again