Tantalising ways to make crowdfunding a success
Crowdfunding, also known as crowdsourcing, is the new age marvel to raise the funds for a scheme or a campaign by collecting small amounts of money from a large number of people through the internet. Mainly, there are three subsidiaries involved in the process of crowdfunding. Firstly, the one who initiates the campaign for raising the funds, secondly, the participants, either individuals or groups who corroborate the process and lastly, an online platform that acts as a bridge between the initiator and the supporter.
While crowdfunding can be for a profitable venture like entrepreneurial projects or for non-profit campaigns such as raising funds for medical expenses, art and creative schemes, the process involves a great deal of understanding the target audience and designing it accordingly.
We at Ketto, understand the importance of crowdfunding and the trust people place when they donate their share of contribution, be it small or huge. By providing a user-friendly platform we are trying to help people who lack the necessary financial aid for medical expenses. Therefore, to reach a maximum number of people and make crowdfunding a success, listed below are a few of the steps that help spread the word consciously.
1. Select a good online platform: While there are numerous options available online to start crowdfunding, selecting a feasible, user-friendly, and trustworthy platform is the most important step, to begin with. At Ketto, just by entering a few details about the campaign that you are starting, help is made available within hours.
2. Knowing your audience: As we raise alternative finance through the internet, the people contributing to the medical bills through these fundraiser campaigns are regular users of the internet and social media tools, aged from 20–45. Therefore, setting the right tone and communicating the purpose of the campaign, in a simple and informal way is important.
3. Projecting a video rather than images: As the donations in these fundraisers are mostly through strangers, it is imperative to build trust between the initiator of the campaign and the audience. Therefore, instead of images, a video message from the patient or anyone related to the campaign can add an abundant value of trust among the audience. It helps them connect personally and empathise with their situation. The emotional impact created by these videos helps a great deal in garnering a lot of attention from the contributors.
4. Receiving the money at different levels: The campaigns in most cases receive donations from strangers apart from friends, family and relatives. Therefore, to build trust and also to appreciate the help offered, the money can be received in different stages as per the needs. Be the amount meagre or huge, it’s the concern that validates.
5. Engaging well through social media tools: Once the fundraiser campaign is initiated, share the link through as many platforms as possible via social media tools and emails. As most crowdfunding events come with tight timelines, it is vital to keep a check on the inflow of funds as per the deadlines.
6. Use your network: The first few hours after the launch of a fundraising campaign are quite important. Therefore, connect with your immediate network of family, friends, relatives and other groups to donate on the day it launches. As per the surveys held in this regard, if the campaign can raise 30% of its target within the first couple of days, you are most likely to reach your goal.
7. Articulating the goal well: With many crowdsourcing events going on every day on the internet, keep the message concise, persuasive and informative to style the campaign to appeal to the audience.
8. Acknowledging the contributors: In a world full of cynicism, events such as fundraisers bring people together to deliver hope in the lives of patients by helping them pay for expensive medical treatments which otherwise seemed impossible. Therefore, it would be a kind gesture to acknowledge supporters who have shared the concern with the family and the patient in the hour of need.
9. Make the process transparent: While it is easy to demonstrate the need for the fundraiser online through videos, images and outlining a compelling story about it, it is imperative to make the process of donation transparent to respect the contributors’ trust and concern. Hence, keep updating the progress of the funds flowing in until the target goal is reached. At Ketto, our mission is to bring this transparency in all the stages of the campaign, also encouraging supporters to keep up the good work.
10. Post-campaign measures: Most fundraisers come with deadlines, especially if it’s for medical emergencies. Even if the campaign fails to generate the required sum of money within the timeline, it can still be held for a certain time. Because in most cases, by the time the treatment is provided for the patient in need, all the savings of the family would have drained out. Keeping in mind the impact of it, money generated after the deadline can be used to help the family to get on their feet back.
The success of any crowdfunding campaign is highly unpredictable. Yet, if the above steps are followed, the chances of achieving the target within the time limits are maximum. Fundraising requires a lot of hard work, research and dedication to make it a success. At Ketto, it is not just a venture for us to initiate the campaign, but a personal obligation to fulfil the promise made. Hence, we strive hard to keep our mission alive in providing healthcare access to everyone in need by connecting people across the globe. As they say, health is of prime importance for developing society, we are trying our best to make the world a better place with people living in their best health. With the combined effort from us at Ketto and our generous supporters, we are sure to offer a fair second chance to as many needy people as possible.