Have You Ever Heard of Crowdfunding?
Crowdfunding is a way for anyone to raise any amount of money for any legitimate project, cause or purpose. It is the raising of funds through the collection of small contributions from the general public (aka the “crowd”) using the Internet and social media.
Tens of thousands of people and small businesses all over the world raised $2.7 billion in 2012. Estimated to raise $5 billion in 2014.
There are currently over 460 Crowdfunding platforms operating in more than 16 countries including…The US, UK, Sweden, Finland, Netherlands, France, Norway, Italy, Germany, Brazil, India, China, Japan, Denmark, Canada, Israel, Australia, New Zealand, Spain, Singapore and Malaysia. Some of the more popular platforms are:
- Indiegogo, and many others…
How Does It Work?
According to Forbes: “Collaboration on the web is an area of exponential growth. Crowdfunding, or collaborative funding via the web, is one of the standouts for growth in this evolving collaborative economy.”
Collaborative is the operative word with regards to successful Crowdfunding campaigns. It isn’t about getting a few people to donate large sums of money (although that certainly would be nice). Rather, it is about a LOT of people donating small amounts working collaboratively to help someone reach their fundraising goal.
Success is not guaranteed but there are some guidelines to follow to help you run a successful Crowdfunding campaign.