Posted On: 2021-12-22 16:16:16
Fundraising - the process of gathering funds as donations for a cause is gaining support in India recently. Usually, fundraising was carried out often by non-profit organizations dedicated to a social cause like collecting funds for someone's medical treatment or helping for a child's education. But it is in recent years that individuals have started raising funds for causes that could be social as well as personal. These individuals raise funds on reliable crowdfunding platforms to make their campaign a successful one, and the beneficiary receives the required monetary aid.
Successful fundraising
The success of crowdfunding was seen during the COVID-19 lockdown.
Ketto, an Indian crowdfunding platform, raised over Rs 115 crore through its campaigns related to Covid-19 and registered a four-times growth during the lockdown.
Impact Guru is another such platform; it saw donations double per minute post-COVID, averaging 2.5 donations per minute.
Digitalization has widened the spectrum for a fundraising campaign to reach as many individuals as possible, resulting in thriving campaigns. A fundraising campaign can be called a successful one when the goal amount is achieved, that goes without saying, but the goal is achieved when a bunch of factors like promotion, retaining existing donors, planned events and other ones are put together in motion.
For accomplishing a fundraising goal, the fundraiser has to develop a step-by-step plan that covers every aspect of fundraising.
Selecting the right platform
Choosing a trustworthy crowdfunding platform is of utmost importance. This platform is where the donors will get to know about the cause of your campaign. Some of the must-haves for a crowdfunding platform that needs to be checked by the campaigner must include
- Payment method- the platform must have an easy gateway for donors.
- User interface- Choosing a platform with a reflexive user-friendly interface will help save a lot of time.
- Tax exemption- In India, donations to nonprofits are eligible for certain tax benefits. Section 80G of the Income Tax Act provides a 50% exemption from paying tax on donations made to fundraisers or non-profit organizations that are registered and valid under the act.
- Fund withdrawal- The funds collected on the platform need to reach the beneficiary, the platform should have a hassle-free fund withdrawing process.
2. Unique Appeal
Everyone that visits the page is not a donor already. The story of the cause that you are raising funds for, must engage the visitors and convince them to donate.
- Start with a title that captures people's attention. A short yet crisp title will attract visitors’ attention real quick.
- The title will raise curiosity amongst the visitors and they will have questions regarding the cause that the funds are being raised for. The story needs to answer all those questions like, what is the purpose, who is going to benefit from the funds, the struggles of the beneficiary and how long have the beneficiary been working for the cause.
- Supporting your story of appeal with visuals like good quality pictures and videos make the donors have a clear vision of the purpose of the fundraising. It also makes the story more trustworthy and reliable.
3. Promote your campaign
Promoting your fundraising campaign is one of the most significant steps. What place could be better than social media? It is a widely spread web of information. Almost every smartphone user has an account on any of the most used social media platforms like- Youtube, Instagram, Facebook, Twitter to name a few. Promoting your cause on social media through videos and pictures will create more awareness and help raise more funds.
4. Track your progress
Tracking the progress of your campaign can help in having a better understanding of the strategies that may be required to reach more people and make the campaign a success. Monitoring gives the flexibility to act according to the headway of the campaign.
A major benefit here is knowing the donors better. Keep a track of those who trust your cause and turn the 1st time donors into existing ones. Retention is important.
5. Thank Your Donors
Donors are the primary reason the fundraising campaign has been successful. Recognize the supporters and appreciate them. They have the right to know the exact use of the funds that they have donated for, so keep them updated with the campaign progress. Provide them with social proof and send them online recognition and thank you notes. Appreciating their effort is the key to a successful campaign.
A fundraising campaign can lead a path to success with planning and efforts. By following a few steps, the campaign can reach more people, attract more funds and meet its objective of raising more funds.
Filaantro online crowdfunding platform raises funds for various causes and helps those in need.
Visit our website filaantro.org and start raising funds for a cause that you care about.
Register Now!
Author: Anjali Patel
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