5 myths about Crowdfunding

Posted On: 2022-06-17 14:48:08

 

Crowdfunding is a method of generating money with the support of a large number of people, most of whom are members of the general public or individuals who may give, invest in projects, causes, or provide assistance to something or someone in need. 

Crowdfunding has existed for a long time in many cultures and under various names.  There has been a  transition from the traditional method to online crowdfunding.

Nowadays, the internet allows individuals and groups to connect with people from all over the world to generate donations for medical treatment, charity, basic necessities, learning and education, animal rescue, and other causes or challenges.

Online crowdfunding deviates from the normal traditional technique by allowing anybody, anywhere to comprehend the cause, gain information, and ultimately support it.

Despite its rising popularity, many people believe crowdfunding is time-consuming, costly, and dangerous. 

Let us debunk 5 of these myths and show how Filaantro can be easily used to successfully raise campaigns.

 

Myth 1: Crowdfunding is only for serious medical emergencies

Crowdfunding can cater to any needs of the campaigner. Many people believe that only serious medical emergencies are adopted by crowdfunding. 

No doubt that medical emergencies should be the first preference, a life is dependent on the success of that campaign. With medical emergencies, crowdfunding also caters to a broader category like Entrepreneurship, Empowering Women, Creating Art, Social causes and much more. 

The sky's the limit when it comes to starting a campaign. The only thing that matters is how your campaign is portrayed to the audiences and how much they relate to it.

 

Myth 2: It takes a lot of time to start your crowdfunding campaign

Setting up a contribution page on Filaantro is straightforward. You decide on a financial target, a clever title, and the category that best matches your fundraiser and writes a compelling story that justifies your campaign to the fullest.

Use the best quality videos and images to share your vision or concern with the rest of the world. Images and videos can portray your story to the best. It also gives an extra layer of authenticity to your campaign.

 It only takes a few minutes from start to end to construct a fundraiser once you've gathered your resources. Fundraising may be shared via Facebook, Twitter, WhatsApp, and other networks.

 

 

Myth 3: Online Crowdfunding isn’t secure and can leak personal data

If you're wondering, "Is crowdfunding safe?" we can tell you that it is. people are concerned about the safety of online donations due to recent reports of phishing tactics and large data breaches. Filaantro understands your problems.

That’s why it’s easy and safe to use Filaantro. Filaantro's team works hard to verify donors and the campaigners. It provides a protective layer to the donors who want to be anonymous while donating.

 Filaantro does not share your data with others. It makes sure that both the donor and campaigner feel secure when they start their campaigning journey.

 

Myth 4: Crowdfunding is cheap

Crowdfunding does not have to be expensive, but it is also not cheap. You will need to spend money on marketing in order to increase campaign awareness and raise funds faster.

You will need funds to develop a compelling, professionally produced video and other appealing images to assist in communicating your message, employ a social media specialist or campaign marketing manager, and obtain press coverage.

When you consider the costs of prototype, fulfilment, platform fees, and the value of your own work, you will understand that raising funding requires time, effort, and money.

 

Myth 5: Endorsements from celebrities will guarantee success

In today's market, celebrities and social media influencers have a lot of marketing power, but paying them a big cost does not ensure crowdfunding success.

You could spend your money on celebrity endorsements if you have a new product concept that solves people's pain areas and are prepared to put in extra work to bring it to reality. Aside from celebrities, a lot goes into conducting a good campaign.

If you're thinking of starting a campaign, keep in mind that people are naturally generous. It feels nice to assist someone who is in need. 

Misconceptions about crowdfunding discourage individuals from seeking assistance, but myths are not reality. You can make your campaign successful. Click here to learn how.

 Now that you know the truth, you may immediately begin fundraising for yourself, a loved one, or a charity.

Filaantro is an online crowdfunding platform that assures people’s amazing ideas and donation requirements for an authentic and noble cause to be fulfilled and can lead to the betterment of humankind.

With an ambition to make this world one community, where everyone can grow along with one another by helping each other. 

Anybody looking for crowdfunding can easily create an online campaign on Filaantro which takes only a few minutes.

 Start your campaign today!

Author: Lubdha Dhanopia