Thanks to the internet, a new phenomenon of online fundraising has emerged. Now, it is possible to fund special interests, inventions, businesses or projects with the tools of the internet and social media. Never before has funding been conducted so easily and on such a wide scale.
In this context, nonprofits have also found a new and effective fundraising avenue. Some may argue that the share of online donations in comparison to overall donations is small. This is true but it is only because of the fact that many are not aware of this avenue or its advantages.
The concept of online fundraising is steadily gaining traction with each passing day. This is mainly because of the convenience and efficiency that come with it. Let us take a look at the various advantages of online fundraising.
Minimal Costs
Online donations are efficient financing tools for any charitable venture or nonprofit. Online funding has a wider reach in comparison to traditional funding. Indeed, conventional direct mail or in-person solicitation is no match for the power of online funding.
Apart from the tremendous reach, online fundraising also offers a virtual, instantaneous flow of cash. Moreover, online funding is also quite easy for donors to understand, provided its execution and administration are proper.
For a nonprofit, internet fundraising facilitates lower costs in comparison to other means like mail or in-person solicitation. Furthermore, the administrative costs are significantly lower in comparison to the conventional office costs. Addressing these administrative costs takes place through the online donor hub.
Transparency and Trust-Building
With online fundraising, an online crowdfunding platform is able to let donors understand how their funds are utilized. This is possible due to itemizing where every donated penny goes.
Consequently, trust of donors in the relevant nonprofit or charity significantly increases. Such transparency encourages donors to donate their money via online fundraising.
Increase in the Rate of Donation
Statistics indicate that online donors are more likely to donate when compared to mail solicitation. In fact, internet ad campaigns have been found to generate a higher return on investment than convention methods.
This is possible due to ‘busy donors’. Busy donors are those who operate more efficiently by using the internet. Such busy donors are also more likely to give. Internet users search for charities to support a noble cause more frequently than non-internet donors.
Besides, the younger generation prefers to work online rather than by traditional means. Consequently, the donors among them would prefer to go for an online crowdfunding platform rather than a conventional one. As such, online nonprofits are much more likely to receive financial assistance.
But, some principles applicable to conventional fundraising also hold true for online fundraising. For example, in conventional fundraising, people are likely to give more if they receive something in return. The same is true for online fundraising.
But what does receiving something in return actually mean when you are the one giving something? Well, it refers to receiving a public acknowledgement for a donation made. The wider the scale of this acknowledgement, the higher would be the rate of donation. Thanks to online fundraising, a really wide-scale acknowledgement is possible within a very short period of time.
For example, as a nonprofit, you can provide progress reports on a particular donation. Consequently, the donor is more likely to continue to support the particular noble cause. Another good option could be to showcase the names of the biggest donors in your website’s hall of fame. There are plenty of other options whereby you can generate wide-scale acknowledgement for your donors.
Ease of Access
With online fundraising, the barrier to entry is lower compared to conventional fundraising. It’s very simple and straightforward to set up a fundraising platform.
You can use any of the popular social media platforms like Twitter, Instagram or Facebook for this purpose. By opening accounts on these platforms, you can easily drive traffic to your crowdfunding website.
Compared to conventional direct mail or in-person solicitation, online funding can reach a much wider market. Moreover, donors are more likely to search and find out about your online fundraising platform this way. Online donation is quicker, safer, more reliable, and more convenient. With online fundraising, a donor doesn’t have to go through the long procedure of writing a check and then mailing it. They can simply fill in their information and click a button. This ease of access is a huge benefit of online fundraising.
Conclusion
Online fundraising is extremely useful as it saves money, time, and effort. Not only that, but it can also expand the donor reach within a short period of time. With online fundraising, you can improve your donor relations without much effort. It is certainly worth giving it a try.
Ketto is a platform whose main activity is crowdfunding. With Ketto, you can raise funds for such noble goals like flood relief, child education, disaster relief, healthcare, etc. Beginning a fundraiser at Ketto is an easy job. You can start it easily, quickly, and with the lowest possible risk. Most importantly, with Ketto, you can withdraw funds in a smooth and efficient manner as per your desire. It is natural for people to worry about where their funds are actually going. Well, not to worry, as Ketto’s experts will dedicate enough time to explain exactly how the funds are utilized. Already, millions of supporters have become a part of the Ketto world. Now it’s your chance to join Ketto and work towards bringing a positive change in the world.
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