Crowdfunding Myths vs. Reality

Apr 16, 2018 Milton Ferrara Finance Comments Off on Crowdfunding Myths vs. Reality

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As online fundraising gains momentum in our country, and as we move towards a fundraising india, it’s important to correct some of the preconceived notions around it. Since crowdfunding is relatively new, a lot of people may be skeptical to try it because of some of the myths that surround it. In today’s article will shall debunk all those myths and only present the complete truth to you.

So here goes:

MYTH: Crowdfunding is not for non-profits and medical causes

REALITY: Crowdfunding is for everyone!

The fact that crowdfunding is only for non-profits and medical causes probably roots from the fact that majority of the fundraising india campaigns are done by people raising money for medical treatments and social causes. What this really goes to show is how many people struggle with finances to get treated. The fact is that you can opt for online fundraising for just about anything and everything – here are a few ideas: education crowdfunding, environmental crowdfunding, creative arts crowdfunding, travel crowdfunding, sports crowdfunding, personal causes and projects crowdfunding, crowdfunding for business and social entreprises.

MYTH: People never donate

REALITY: Crowdfunding has been incredibly successful!

At Impact Guru alone, we’ve have helped people and organizations raise over 329 crores for various causes. If you were to see the numbers of all crowdfunding platforms put together, the numbers would be staggering. This goes to show that philanthropy is not dead, and people do donae. You will always find like-minded people who align with your idea, or sympathize with your social initiative. It’s all about the effort you put into your campaign.

MYTH: Crowdfunding is easy money

REALITY: Crowdfunding requires hard work

It would be wrong for any campaigner to get involved in online fundraising thinking that it’s quick and free money. The truth is that not all campaigns succeed in raising money, nor is it an easy task to do so. While it may be much easier than traditional financing models, it’s not effortless. Your work begins well before your campaign starts, you need to create a powerful campaign narrative, combine it with photos, videos, clips to make it more pull attention. After that making it viral on social media is the next step. This is where many campaign fall through. Your online engagements with supporters, as well as potential supporters determine the funds you raise. To ensure that your supporters donate towards future projects as well, it is important to constantly stay in touch with them too.

MYTH: Donating to crowdfunding campaigns is risky, because they could be fake

REALITY: Most crowdfunding websites verify their campaigners prior to launching

Like Impact Guru, most crowdfunding platforms conduct a due diligence process in order to verify the authenticity of a campaigners cause. Tangible proof is always presented even on the campaign page itself. For instance, people raising money for medical treatments, always have documents authorised by hospital authorities for all donors to see. This isn’t to say that there are no fake campaigns out there, but rather to say that it is actually quite safe and risk free. Besides, you can face the same risks even with traditional donations.

We hope that debunking these myths will encourage a fundraising india to adopt alternative fundraising techniques such as this, for financial stability. If you have a cause that needs financial support, get started today!

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