Crowdfunding: More Than Just Raising Money

By: Taqdees & Chiara

Published On: December 22, 2020

Crowdfunding is a recent phenomenon in India. Literally, crowdfunding is about raising money but as a concept, it stands for a larger picture.  It is more than just an efficient and economical way of raising funds. See how it works.

Here are 4 things that crowdfunding stands for;

 

A Community Coming Together For A Common Cause

Crowdfunding is raising money for a particular cause through ImpactGuru’s online crowdfunding website. In the process of raising funds, it brings people together. For example, If there is a fundraiser for rescuing street dogs, then the only kind of people who will donate to this cause are the ones who believe in it. Thus, bringing like-minded people together for a common purpose.

It also encourages the idea of working together as a community. How a little amount, if given by a group of people can help raise a huge amount for someone in need without a single soul being burdened.

To know more about crowdfunding, check our FAQ

 

Raising Awareness Before Funds

Crowdfunding is about raising money for a cause. But irrespective of how much funds you raise, it makes people aware of society. It builds empathy and awareness about what is happening in the community around us. Considering the same example as above, even if an individual doesn’t donate for the fundraiser, it makes him aware of the state of street dogs as living beings and why rescuing them is important.

ImpactGuru is a crowdfunding platform that supports various types of fundraising campaigns. Here is where you can start a fundraiser.

 

Engagement Beyond Personal Contacts

When we share a fundraiser online on social platforms, it reaches people beyond our personal contacts. Sharing is like a chain reaction, it multiplies. 100-500 million users are active on social media platforms daily! An average person spends 50.1% time spent on mobile is done using social media. Imagine the amount of engagement the fundraiser receives even with a single share. This engages so many people online, around the world for one cause that you created a fundraiser for. 

 

Also read, 6 Steps to Successfully Crowdfund Your Medical Treatment in India

 

Validation and feedback

Crowdfunding is not just a process of collective funding but also collective validation. When a creative or a personal fundraiser is started online, It does not only raise funds. With the number of people willing to donate to your idea, you get public validation for it. Whether or not it will work and whether the people in your society will support it. It is a great way to analyze your idea at an early stage.

When you share this fundraiser online, you also receive feedback through comments. Criticism is always healthy for a fundraiser that involves a new project or idea.

 

When you start a fundraiser, your cause is benefiting from all the above-mentioned advantages irrespective of how much funds you raise. Therefore, crowdfunding is more than just raising money.

 

Read reasons to consider crowdfunding for small businesses

 

   

 

 


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