Fundraising to help your business isn’t a new concept. The honorable bake sale has been used to raise funds for many organizations over the decades. How well they do depends on promotion, product, and a call to action.
The same goes for online funding. When a money-gathering campaign is properly managed, it can result in a huge success. A majority of this promotion is done by the individual or group running the campaign. The rest is done through avenues available via the funding application.
A Shift In Fundraising with Crowdfunding
Once upon a time, Kickstarter and IndieGoGo were the only crowdfunding platforms to reach the masses. Today, there are numerous competitors who do as well or better than the aforementioned companies. In turn, this allows those who need funds to reach their milestones and sometimes go beyond them.
With the increasing use of smart technology, many funding sites now have mobile apps. This allows users to see their progress, promote their work, and check on funds that were received while performing other tasks. To give you a better idea of what they do, here are five ways these mobile funding apps help achieve your goals.
1. They allow you to reach a bigger audience
The issue with fundraising in the past is it fell on deaf ears. Mailers sent to people and groups on a distribution list would be ignored or, in some cases, thrown into the trash. Then, it would take more time and money to send out a second group of mailers to draw their attention.
Mobile crowdfunding apps still get ignored, but there’s a better way to get the message out on a repeated basis. Text messages, emails, and social media give you an advantage, as long as they’re used properly. Eventually, those you are working to reach will get the message and donate to your cause.
2. They allow you to tell your story
Back to the mailers: you could certainly write a lengthy essay on how you came about your project, what it means to you, and why people donate. However, those who receive the mailers might simply glance at the information or not look at it at all. However, with mobile funding apps, it’s hard to ignore your voice or image.
This is the greatest advantage to gathering donations online. You are no longer an anonymous voice among the others requesting donations. You can connect the need to your personality. This helps display your passion for the project as well as your gratitude when donations are received. If done right, it also helps build a fan base for your current and future work.
3. You can provide incentives for donations
Rewards have been part of the donation process for a long time. Ever donate to a public radio or television station in the past? The smallest donation would get you a mug or at least a tote bag. Fortunately, with mobile fundraising apps, you can give a little more.
Some sites provide incentives to all donors if a financial goal is reached. For instance, a free copy of your new book or album. Other sites have incentives not only for reaching a monetary goal but also if they donate a certain amount on a regular basis. In that situation, the donor receives two rewards, and this may encourage them to spread the word about your project.
4. You create a community
It takes time to create a fanbase for your project or cause when you conduct a campaign through mailers or word of mouth. And, even if you do start building one, it could be smaller then you anticipate. This can change when using a mobile fundraising app.
The advantage of these modern tools is they allow you to establish a community of like-minded individuals as you move through the funding process. In addition, you can provide regular updates on your progress or challenges, sometimes on the same day they occur. When this takes place, potential donors see the human element of the project and work to help you reach the next goal.
It’s not just one person. By showing your struggles and achievements, those who follow you relate to your situations and keep encouraging you. Eventually, these individuals become a collective fan base that want you to succeed. Not only with your first project but with others thereafter. Not only does it give you a good feeling, but it also makes your community feel like something positive is happening.
5. You get the money when needed
Okay, there’s a caveat to this — not all mobile funding apps allow you to withdraw the money once received. There are still some apps out there that don’t give you anything if your goal isn’t reached. However, as the crowdfunding movement grows, newer apps allow their owners to take the money when needed.
Sometimes, there will be a processing fee connected with this. Other times, the money you get is 100% free. Regardless, it’s available immediately or in one/two business days after the request. In turn, this means you can fund a portion of your project while building a community and monies for the next one.
The advantages to this are twofold. First, it gives you a sense that progress is being made on your project. Second, it allows you to breathe easier as you move toward your goal. Though still a challenge, you can focus on creating instead of constant promotion.
Fundraising Solutions For People To Explore
One of the ways to help ease that stress is through a funding campaign that isn’t in the range between 30 days and infinity. In the end, what you may need is a one-hour campaign that we do at Hour-A-Thon. Through text messaging and phone calls, funding is not only more efficient but can garner more donations than a standard crowdfunding project.
Overall, a personal touch and minimal time limit are what donors look for when they consider funding a campaign. Whether you choose Hour-A-Thon or not, this is what you need to examine when considering such a task. Especially when there are thousands, if not hundreds of thousands, of people out there looking to do the same thing.
Be sure to also read our article on the best fundraising ideas for schools.