Why do I need crowdfunding?

In the course of your fundraising journey, whether you are trying to raise cash to help a friend in need or looking for fundraising ideas for schools, clubs, or charities, you will find yourself in a whole host of situations. 

The key to a successful fundraiser is knowing the right approach for each situation and being flexible enough to pivot your activities to the ever-changing landscape.

Which leads us to the question: Why do I need crowdfunding? Below we will discuss some common situations in which crowdfunding campaigns are the right choice.

1. Traditional fundraising isn’t working anymore

Over time, it is natural to see the performance of your fundraising ideas lose some of their impacts. This can be for a range of reasons - donors become passive to your messaging, they start prioritising other charitable causes or they find themselves having to re-work their budget.

To keep the donations coming in, you need to constantly add fresh new ideas to your mix to engage your donors and put your cause at the top of their minds. And that can be really challenging!

Crowdfunding is a fast, easy way to add a new fundraising activity to your schedule and give donors a different way to support your cause. By design, as a social marketing tool, it gets people to not only donate but also tell their friends and family about the campaign too. 

Plus, the engaging nature of the online fundraising experience encourages them to come back to check on the campaign, making them more likely to donate again in the future.

Read the Best 55 Easy Fundraising Ideas here to get you started.

2. Donors are short on cash

Even your most loyal supporters are currently being hit by the cost of living crisis. Unfortunately, charitable donations are one of the first ways people make savings in their household budget when times get tough.

By crowdfunding through the icause fundraising platform, you can offer your supporters the chance to Switch and Donate. 

This means they can donate to your campaign without spending a cent. All they have to do is compare a utility bill with icause, and if they decide to make the switch to a new provider, a donation will be made on their behalf to your campaign. Supporters can donate upwards of $500, without spending any money!

3. I need to build trust and awareness

If you are a new charity or an individual, a big challenge to your fundraising is building trust. Crowdfunding works on the principle of friends sharing with friends, which makes it much more likely that people who are new to your cause will trust your message.

Successful crowdfunding works by targeting your friends and family, who in turn spread the message to their nearest and dearest and from there on to the ‘crowd’. By accessing the crowd via people you already know, there is a natural increase in trust.

You should also choose a reputable fundraising platform to further boost your credibility and use the social sharing functions to build more awareness. 

4. I need to raise money for an individual, fast!

A lot of people use crowdfunding to raise money for accidents, medical expenses, and mental health fundraising, which can arise suddenly, without warning. In these cases, there’s no opportunity to put together an event or a traditional campaign, which can take a lot of time and money to launch.

Crowdfunding is fast and free to set up and available to everyone, so you can start collecting money in minutes and could reach your goal overnight. 

Although it might feel commonplace now, one of the groundbreaking elements of crowdfunding is that it has made it possible for supporters to directly donate to those in need, so that the kindness of the ‘crowd’ can make a real difference in a person’s life.

5. I want to go viral

Crowdfunding uses the power of social media, and so out of all the fundraising methods, it has the biggest chance of spreading.

Viral campaigns can get thousands of eyes on their cause in a very short amount of time, and more eyes equals more donations.

To increase your chances of going viral, use all the social media tools available - create a hashtag for your campaign, tag relevant businesses, organisations and people, and ask your supporters to share your posts as often as they can.

Some strategies you can try to go viral include:

• Tag or approach news outlets to expose your campaign to their large readership or viewers
• Make shareable video content
• Do something shocking (but legal!)
• Use an influencer or YouTube star
• Run a challenge (the Ice Bucket Challenge is one of the best examples)
• Make it relevant - if you are raising money for a children’s charity, think of newsworthy fundraising ideas for kids, such as a colour run or sponsored event
• Make it timely, such as a charity Christmas fundraising campaign

Start crowdfunding today!

If you have found yourself in any of these situations, then setting up your campaign couldn’t be easier! Simply click Start Fundraising and in a few minutes, your campaign could be up and running. The icause crowdfunding platform will take you step-by-step through our fundraising guidelines to make sure you have everything you need to reach your fundraising goal.

Follow the links below for more information to raise funds for something you care about:

• What is crowdfunding
• What you Need to Know About Fundraising Laws
• The 55 best fundraising ideas you’ll find anywhere in Australia