WeDidIt is an online fundraising platform for non-profits.

Posts Tagged: social media

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You can’t go to the grocery store these days without hearing about social media. It’s been credited with everything from a new way to communicate with your customers, to saving lives in disaster areas, and helping topple corrupt regimes. Social media has come a long way from being a means for college boys and girls to check out who was in a relationship with whom. It’s amazing that social media has evolved from this to changing the way businesses communicate with consumers. This can be applied to fundraising in a very unique way.

Traditional fundraising methods, whether they be a 5k race or annual gala, all end in the same way. That is, collecting donations by check, cash or credit card. The difference between crowdfunding and traditional fundraising is the fact that crowdfunding is integrated with social media. This may seem like a minor detail but let’s explore it a bit further.

In traditional fundraising, a first-time donor swipes their credit card. You are then given their name, shipping address and any other information they voluntarily give you. The transaction ends and you move onto the next donor. In crowdfunding, someone makes a donation and they are automatically prompted to share your fundraising campaign in their own social networks. The benefits of this are two-fold.

Firstly, you have just expanded your potential donor base without having to lift a finger. Secondly, you have just received valuable information about your donor. Without having to fill out any forms, your donor has just told you how old they are, where they live, the size of their social network, the brands they prefer and…the list goes on.

It’s these donor demographics that make social media and crowdfunding so special. Not only are you investing in the most effective form of advertising - a personal endorsement from your donor to their friends and family - you are getting a free analysis of the demographics that support your cause. This is priceless information that most companies will pay top dollar to obtain. You are getting it for free while raising money for your cause. This is the true power of crowdfunding.

@Nbmaroun

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….2 words. Interesting Rewards

Our friends at Kickstarter have paved the way for us crowdfunding enthusiasts. If you’re unfamiliar, Kickstarter is the most popular stage where creative/artistic projects can find funding through an online platform. What’s great about Kickstarter is that creatives are encouraged to reward their backers (donors) with a gift or token of appreciation. We’ve seen this donation-reward system have incredible success on Kickstarter, and wanted to dissect why this system works so well. 

Let’s briefly take a look at the 5 most successful Kickstarter projects (to date):

5) Hidden Radio & Bluetooth Speaker

Goal: $125K, Raised: $928,771 from 5,358 backers

4) TikTok+LunaTik Multy-Touch Watch Kits

Goal: $15K, Raised: $942,578 from 13,512 backers

3) The Order of the Stick Reprint Drive

 The Order of the Stick Reprint Drive

Goal: $57,750, Raised: $1,254,120 from 14,952 backers

2) Elevation Dock: The Best Dock for iPhone

 Elevation Dock: The Best Dock for iPhone

Goal: $75K, Raised: $1,464,706 from 12,521 backers

1) Double Fine Adventure

 Double Fine Adventure

Goal: $400K, Raised: $3,336,371 from 87,142 backers

For projects focussed around a deliverable, you can have amazing crowdfunding success if you reward donors with something they actually want. These campaigns went viral because they compelled people to share and donate with the hopes of receiving the proposed deliverable (e.g. the watch, the new video game, speakers, etc). Yes, people will donate from the goodness of their hearts, but that isn’t sustainable. It sure isn’t sexy. So let’s give people a reason to donate. And reason to share your campaign with their friends and family. You can do this by offering interesting rewards in your crowdfunding campaigns that galvanize people towards action (specifically sharing and donating). 

Now, I understand that as a nonprofit organization, you may not have access to sexy products/gifts to reward your donors. That’s okay! Your rewards don’t have to be tangible items…they can simply be creative ways of saying ‘Thank You’ to your donors (e.g. hand-written thank you note, short video message, dinner, personal blog post). Nonetheless, the team at WeDidIt is making it easy for you to find rewards that your audience will both LOVE and appreciate :)

So as Pebble: E-Paper Watch for iPhone and Android approaches Kickstarter History with their ground breaking project (already raised over $3MM with over 30 days left!), think about how your organization can give people a reason to donate if you too want crowdfunding success.

@thesusanni

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Ten years ago, online shopping was only for early adopters or products that were hard to find locally. These days, people are buying everyday items like toilet paper online - Soap.com anyone? This is just one example of how the internet has changed our lives. What does this have to do with fundraising? Well, many nonprofits still rely on traditional fundraising methods, such as direct mail campaigns and annual galas. Online fundraising is not intended to replace these methods of fundraising, just as Amazom.com is not intended to replace Target.

Online shopping and online donations are simply means to diversify options for donors and shoppers. Of course there are donors that still prefer to give by mail or come to the annual gala, just as there are still shoppers who prefer to buy their soap at Target. But the simple truth is there are a lot of donors - especially young ones - who will only donate money online. 

Let’s draw an analogy. Cartoon Network originally aired content only for children. With most of their audience in bed by 9PM, Cartoon Network would simply air reruns late at night. This is where Cartoon Network came up with a brilliant idea. After 9PM they would start airing adult oriented cartoon shows, calling it “Adult Swim”. This way they could keep their traditional audience during the day and reach out to a new audience at night. Also, when younger viewers outgrew their favorite shows, there would be options available to keep watching on Cartoon Network.

Online fundraising works in exactly the same way. Keep your traditional donors, but reach out and engage new and young donors. The wave of online fundraising through social media is right now, and remember, if you’re not riding the wave, then you’re standing on the shore.

@Nbmaroun