I’m sure most of us have come across a person or an organization with some sort of pressing unmet need. Fortunately, we live in a society with individuals who are happy to help meet those needs when there is a cause that they feel is worthy of their time and money. While it may be hard to find single donors willing to donate thousands of dollars to a cause, it is often easier to find thousands of people who may be willing to donate a dollar or two to better the world. The Internet and associated technologies has changed nearly every aspect of modern life; fundraising methods are no exception to this rule.
Crowdfunding has become a popular and highly effective alternative to traditional fundraising methods such as costly and annoying mailed advertisements, cold calls and the like. Like anything in life, to get the best results there has to be a willingness to do things the right way and one must follow the examples of those who have previously engaged in similar efforts successfully. Fortunately, an assortment of experts has compiled details on what they have found to be some of the best practices crowdfunding.
To begin with, many have found is that it is best to start with a SMART goal. This acronym is a mnemonic device that is used to help with decision-making planning and goal setting throughout the business world. It stands for specific, measurable, attainable, realistic, and time bound. In other words, your goal should be focused. There also must be a way to measure whether you are on track or not. Your goal also needs to be something that is possible for you to attain. Your goal Shouldn’t be something you know you cannot realistically expect. Also, your goal should have a time limit to it so you don’t end up wasting time which in turn waste resources.
Who your audience is another critical consideration to keep in mind. Focusing your fundraising efforts on those likely to be sympathetic to your cause from the beginning will yield the best results. There’s no need to waste time trying to solicit donations from those who are either opposed to or apathetic to what you are trying to do. It is also not a bad idea to have a predetermined core group of investors who you know are likely to support your crowdfunding. Such investors may even be a source for the testimonials or other ways of spreading the word about your crowdfunding that will elicit further response. This can create a snowball effect that greatly increases the donations you are able to collect.
Be sure to include the use of media in your crowdfunding campaign. Soundbites and even better yet videos will capture the attention of those who make it to your crowdfunding site and will also make your site seem more interactive and professional. Perhaps most importantly, do not underestimate the power of social media. A positive social media presence for your crowdfunding campaign is likely to greatly extend the reach of your campaign perhaps even exponentially.
There are other best practices that may help you reach your goals. A good start is to ask yourself what might compel you to donate to a crowdfunding campaign. Always remember that you can learn from others’ experiences and search out what the experts have found to be best practices.