Crowdfunding yielded more than $5 billion during 2013, with about 30 percent of that going towards nonprofits and social causes.
The hottest trend in online fundraising is crowdfunding. Nonprofits are in the best position to take advantage of it, but it can be hard to get started. During a session “Go Fund Yourself,” Rob Wu, CEO of CauseVox suggested that anyone can be successful in nonprofit crowdfunding.
He recommended the following steps to help you plan a crowdfunding campaign for your nonprofit.
* Come up with your point of view and unique approach by asking: What is the problem you’re looking to solve? Who are you trying to impact? How will you do it?
* Set a goal that is specific, measurable, attainable, relevant, time-bound.
* Determine reward or donation tiers, but tie them directly to your mission so it does not dilute the motivation for giving.
* Rally an audience by giving exclusive first access, calling your partners, and going where your audience will be. Your community is one of your strongest assets to help you get donations and spread your message.
* Create a compelling story and use all your channels to communicate those stories throughout the crowdfunding campaign. Focus on visuals such as videos and photos that can be easily shared.
* Ask supporters to personalize the crowdfunding campaign by creating personal fundraising pages. This is an effective way to get new donors. Add in publicity by building relationships with journalists who have an interest in your cause area.