4 Terms To Understand Before You Start Crowdfunding
By: Taqdees, Chiara
Published On: November 16, 2020
Crowdfunding is a newly introduced idea in India. To understand and take full benefits from the idea of crowdfunding, one must understand what it is. Here are 5 simple terms that you should know when you think of crowdfunding.
Definition Of Crowdfunding
Crowdfunding or fundraising as some of you may know it as, is the process of gathering funds through the form of donations to fund either a medical or personal cause that you care about. For instance, if someone requires the money to pay for hospital or medical treatment, or want to share support for uneducated girls in the city, they can reach out to donors by starting a fundraiser on impactguru.com.
A crowdfunding platform
When you need to crowdfund the first thing you need is a online platform where you can start a fundraiser in a few simple steps. Our 5min set-up process allows you to start one as quickly as you need. A fundraising platform helps give your fundraiser an online presence where you can showcase everything you need to convey about your cause. With an integrated payment method, donors from all around the world can donate to your cause. We also help transfer the funds you have received to your account. In case of medical emergencies, the funds get transferred directly to the hospital’s account.
A fundraiser or fundraising campaign
To raise funds for your cause, you need to start a fundraising campaign or a fundraiser. This is where the word ‘campaign’ comes. A fundraising campaign, in simple words, is presenting your campaign (theme of your story) to the crowd. This presentation will include your story, pictures, and appeal to the donors where you share with them why you need the funds. Here are a few compelling fundraising ideas you can use to boost your campaign!
When we say crowdfunding, the crowd in this word are the donors. The crowd which believes in your cause and chooses to donate. Our donor community itself includes people from over 165 countries. Donors play an integral part of your fundraiser achieving its goal.
Have more questions about Crowdfunding? Ask your QBC: Questions Before Crowdfunding.