Crowdfunding is the practice of raising money from a large number of people who give smaller gifts, via the internet.
The most successful nonprofit Crowdfunding campaigns encourage peer-to-peer fundraising and raise more because of it (Fundly).
1. Crowdfunding has become one of the most popular ways for individuals to raise more for a cause, project, or event.
The average successful Crowdfunding campaigns raised at least $7,000 (Fundly).
The average amount donated by an individual donor during a Crowdfunding campaign is $88.
2. More people are using social media as opposed to direct mail now.
The majority of people (59%) that respond to direct mail are over the age of 35, while 22% of people under the age of 35 respond to direct mail.
Giving online has gone up 29% in the last three years, while direct mail has decreased. (The 2018 Burk Donor Survey).
3. You can reach a younger demographic with Crowdfunding. Traditional crowdfunding is one of the most popular fundraising strategies for millennials, with 71% of millennials having fundraised for a nonprofit.
Currently, there are many Crowdfunding platforms for every type of cause, project, event and situation.
"Giving your supporters, donors, fundraisers, and evangelists the opportunity to take your cause, make it their own, then share their story quickly and easily on social media, is the essence of social fundraising. And based on the impressive way social media has changed the way the world gives and shares, it is, in our opinion, a must have piece of functionally for any platform contender" (Crowdrise).