Crowdfunding has become an increasingly popular way for individuals to raise funds and awareness for new projects, businesses, ideas, and causes they care about. By harnessing the power of the internet and social media, we can pool individual donations on a scale much larger than before.
Charity organisations in Singapore can take advantage of crowdfunding to get the community interested in, and committed to, supporting many of the programs and services they offer to their dependents. Read on to find out how you too can help make a positive impact on the lives of others through crowdfunding.
Outreach
Fundraising, in some ways, is about bringing people together to donate to a common cause. Whether it’s a charity run or a gala dinner, the aim is to get as many people interested and invested in an organisation’s activity as possible. Crowdfunding aims to accomplish the same goals, and in fact can not only run parallel to, but often even complement, such fundraising activities.
The main differentiators for crowdfunding campaigns are the low barriers to entry and high potential for online visibility and reach. Anyone can begin a crowdfunding campaign online, and in fact many have done so on our very own crowdfunding platform in Singapore Give2Children.
Creative and media-savvy individuals can create a crowdfunding campaign online and tap on their social networking skills to raise awareness of, and funds for, issues close to their heart. At the start, most of the interest in, and donations to, your campaign may be from friends and family, but with increasing traction, you could also be promoting the cause you care about to many more people online, and getting new donors onboard.
Companies are also able to use crowdfunding as a way of promoting or kickstarting their Corporate Social Responsibility (CSR) initiatives. By starting a crowdfunding campaign on an online platform, the entire process is streamlined without the need for cumbersome logistics, making it ideal for small companies without the resources to mount elaborate physical fundraising events. It also allows companies to raise funds for charity organisations and the many underprivileged communities they support in a way that is both meaningful, yet easy to execute.
Multiplier Effect
Successful fundraising has a lot to do with building momentum. There are several case studies on crowdfunding campaigns that went viral and garnered attention far beyond what was expected. A lot of this has to do with the multiplier effect, which exponentially increases the reach of an online campaign.
To put it simply, by involving yourself in a charitable crowdfunding campaign online, you raise awareness of it within your own circle. This might lead to a few of your friends or family sharing your campaign among their own social circles, and so on. This attention and hype multiplies until the entire campaign is magnified many times beyond what you could have accomplished on your own.
Halo Effect
When one crowdfunding campaign receives heightened visibility, many other smaller campaigns stand to benefit as well. This is known as the halo effect, and it can be a huge boost for causes that may not have received as much attention or funding to reach their goals. Crowdfunding then becomes a force for social good, and can be harnessed to shine a light on charity organisations and their activities.
With today’s hectic lifestyles, physical fundraising events can be time-consuming to plan and execute, and may not be convenient for potential donors to attend. Crowdfunding in Singapore makes the whole process much easier and more painless, connecting potential fundraisers and prospective donors in a much more direct manner, making the act of both fundraising, as well as donating to a campaign, that much easier and more convenient. An online campaign has all the information you need to know, while also providing payment options for easy donations, all from the comfort of your home, or even through a mobile phone while on the go!
By being a part of an online charity crowdfunding campaign, you too can give back to society and raise awareness for causes you care about. Contact us today to learn more about our online crowdfunding platform and how you can start your first campaign.