Crowdfunding
Tips & Tricks
WePay’s payments API is built specifically for platform businesses
like marketplaces, crowdfunding sites and small business software.
These platforms are empowering millions of users worldwide to
unlock all kinds of creative commerce. Through its proprietary VedaTM risk engine, WePay gives platforms a flexible payments API
that provides a great user experience while still being able to take
on all their fraud risk and compliance burdens.
1. Get to the Point: Create a clear, direct and impactful explanation
of the need. Make sure to spell out what you are fundraising for,
why the cause is important to you and what difference each donation will make but keep it as short and sweet as possible.
2. A Picture is Worth a 1000 Words: The more visuals you can bring
to the table, the better. If photos and videos are available don’t
hesitate to showcase them to best highlight your cause or mission.
9. Do Your Research: There are a lot of options out there to choose
from to host your fundraiser but which one is the right one for you?
Commission rates can differ along with varying rules on what you
get or don’t get based on meeting your goals. Some crowdfunding site specialize in certain kinds of fundraisers over others so dig
around a bit to make sure you’re selecting the best platform for
you.
10. Take if offline: Social networking is key to creating momentum,
but don’t forget you can raise awareness about your campaign
through face to face encounters at work, social and community
gatherings. Also, don’t forget about the media -- your local newspaper, TV and radio outlets may be interested in sharing your cause
with the general public too.
3. Make the first move: Get the ball rolling by making the first
donation to your fundraiser, your friends, family and associates will
follow your lead. Be mindful of how much you give as well. If you
want people to donate $100, don’t donate less as you are setting
the bar for others to follow.
4. Update, Update & Update: It’s a given that you need to
connect to as many social media channels as possible to
spread the word about your fundraiser but it’s also important to keep donors up to date on the status of your fundraising efforts. Changes in the status of a fundraiser such
as raising your fundraising goal is information essential to
share through Facebook, Twitter, email, etc.
5. Don’t Forget To Say Thanks!: Crowdfunding sites will
automatically send a confirmation message to your donors
which will also thank them for their generosity but a personalized thank you note will truly show your appreciation.
A list of donor emails can be made available to you for
those who have opted to identify themselves.
6. Double Check Your Math: When asking for money most
of us want to stick to just asking for what is needed and
nothing more but don’t forget to take into consideration additional expenses that can come up. For instance, crowdfunding for a new business can mean dealing with new
kinds of taxes, marketing expenses, etc. that you may not
initially think about. Think it through first before establishing the goal.
7. The early bird gets the worm: Prep work matters. Before
you launch your crowdfunding campaign, reach out to potential donors to let them know what you’re up to and how
you’d like them to be involved. Campaigns that have the
supporter base established in the beginning have a much
greater chance of succeeding than those who set up the
fundraiser and then begin reaching out to the community
for donations.
8. Sweeten the Pot: Like anything in life, incentives get
people’s attention. Be resourceful and find ways to inspire
people to donate, even more than once! Find a desirable
prize to offer up as a giveaway. A giveaway such as donors
who contribute more than $100 can be entered to win an
Apple iPad can help you get closer to the fundraising goal.
Certain platforms offers these kinds of incentives for people
to donate to fundraisers happening on their platform.
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