Signal Summer 2020 Newsletter

www.alliancecom.net 9 for a personal or creative project, getting startup cash for a business, or collect- ing money for a personal need such as an emergency, medical situation, or planned volunteer trip. If you’re considering using crowdfunding for a personal reason, keep in mind that generating money for this type of cam- paign isn’t as easy as it might seem. For one thing, people typically only donate to those they personally know. If you want to go beyond your personal net- work, you’ll have to do some promotion through social media and other means. Funding Tools Read the descriptions here to see if any of these platforms might work well for your project. If not, there are many others available as well. Causes (causes.com ) This site is the right place for individu- als and nonprofits looking to generate funds to further the interests of animals, human rights, the environment, and similar issues. CircleUp (circleup.com ) This site enables entrepreneurs who already have a business off the ground to connect with potential investors to ramp up. GoFundMe (gofundme.com ) Good for personal emergencies, charitable causes, and businesses, GoFundMe enables you to keep all the funds you raise. Kickstarter (kickstarter.com ) A good overall crowdfunding site, Kickstarter uses an “all or nothing” approach, meaning you only get funding if you get pledges that meet or exceed your campaign goal. Patreon ( patreon.com) This site allows creatives such as YouTubers, podcasters, and bloggers to get funding for their ongoing projects on a subscription basis. Tips for Crowdfunding Success To get the best results from a crowd- funding effort, follow these tips, based on a list provided by GoFundMe: 1. Have a realistic goal. Do some calcu- lations before you start the campaign to determine what the actual cost of your project will be and base the fundraising goal on that. You can always increase it later if needed. 2. Create a relatable story. Use the space available to clearly describe your situ- ation. Explain exactly how the funds will be used. Add a compelling title to draw people in. 3. Use images. If your campaign is to help a person, include some shots of them. If it’s for a business, display your product. Any images that help make your idea more tangible to friends, family, or funders will help. 4. Use social media. Once your campaign is up and running, use your social media accounts to spread the word. 5. Send updates. When people invest in your idea or project, they’re invested in the results. Be sure to share news and progress along the way. Also let them know when you’ve reached your funding goal! Use Your Birthday to Support a Good Cause Facebook has gotten into the crowdfunding space with a feature that allows you to request donations to a cause of your choice on your birthday. The cause can be any non- profit that’s set up on Facebook, and Facebook checks to make sure each one is legitimate. Here’s how it works: You set up the birthday fundraiser, including a financial goal, and then Facebook friends see it on your birthday and have the option to click through to donate. The results are typically better than the requestor expects, given the opportunity to write a heartfelt explanation of why the cause is important and the ease of donating. For the organizations that benefit from these gifts, birthday fundraisers can bring in a significant amount of funding without a lot of work. Those making the donations are also gratified by simultaneously helping their friend having the birthday and supporting a good cause. FAST FACT: When the U.S. needed to fund a base for the Statue of Liberty in 1885, The New York World newspaper raised the money to do it. Source: www.statistacom/statistics/1078273/global-crowdfunding-market-size