Crowdfunding is the hottest trend in fundraising. To help nonprofits take advantage of this new tool, the Chronicle of Philanthropy hosted a live chat with a co-founder of a crowdfunding platform and a nonprofit that successfully raised $100,000 from the crowd. Here are five quick takeaways:
- Planning is everything. Successful campaigns are built on weeks of planning and preparation.
- Videos are important too. Videos are the easiest and best way to share the work that you do with potential donors. The ideal video length is less than three minutes.
- Set realistic goals. If you only have 500 contacts on your list, then a $25,000 fundraising goal may be too ambitious.
- Email is the most effective outreach tool. Facebook is next.
- Nearly 85 percent of crowdfunding donors give because they have some kind of connection to the cause.