A Hand Up or a Handout?
Most people cringe at the thought of asking for financial support, and tend to proceed with caution when asking friends or family for money—even for worthy causes. So what makes doing it online so much more acceptable?
“It’s a lot less uncomfortable to ask someone to check out your campaign than to put your hand out,” says Wyman. “And for life events, such as a wedding, look at it this way: It’s similar to registering for gifts at a store, except now the couple can ‘register’ for something that’s more meaningful than china. And unlike just giving cash, guests know that their contributions are going toward a couple’s real goal.”
“People just want to help others. It’s a strong emotion that drives the crowdfunding industry as a whole.”
According to Sperling, crowdfunding isn’t just benefiting those raising the funds, either—it’s giving everyone a chance to give back. “Sometimes people just want to help others,” she says. “It’s a strong emotion that drives the crowdfunding industry as a whole.”
Crowdfunding 101: A Primer for Success
Before you jump on a crowdfunding bandwagon yourself, Wyman says that there are a few things you should know when it comes to creating a good campaign:
1. Set a Realistic Financial Goal. If potential contributors don’t think that you’ll be able to reach your goal, they’ll think twice about contributing to your campaign.
2. Craft a Smart Elevator Pitch. You should be able to explain your cause in two to three concise sentences. And before you share that pitch with potential donors, practice it on your friends and family.
3. Be Your Best Marketing Team. Tell everyone you know that you’ve launched a campaign, and invite them to visit. And be sure to consistently update the campaign, so there’s a reason for people to keep on visiting your site.