Spend the next 5 minutes of your time reading the don’ts of online fundraising. Fundraising, which has been trending in the past decade, is a popular way to get help or give someone the money they need to overcome hurdles, be those related to health care or education.
Specifically, online crowdfunding or fundraising is a form of collecting small amounts from a large population for a noble cause from any place in this world. Ketto gives people a flexible and user-friendly platform to raise funds for medical bills, education and everything in between. It has reached 55+ lakh donors and organized 2 lakh+ fundraisers over the past 10 years. It has raised around Rs 1100 crores from January 2020 to July 2021.
The Common Fundraising Mistakes to Avoid
People often make some common mistakes with regard to crowdfunding that impact the results directly. Here are the fundraising habits to avoid at all costs:
1. Identity Not Revealed or Poor Narration of the Cause:
Most people who choose Ketto for crowdfunding are those who are willing to help people in need, but are confused about certain things. They have questions like “Will my contribution go to the right people?”, and “Is he/she a real person in need?” To assure them, it is necessary to reveal your true identity. The key point in fundraising is giving value to donors. So you have to narrate your story, discuss your hurdle and engage with your donor. The level of empathy, engagement and trust that you gain from your donor determines the gift you get from them. So, invest time in revealing your identity, explaining your situation and seeking a donor’s empathy.
2. Giving False/Incorrect Information
Giving information that is false or incorrect brings down the potential trust gained from donors. If you confuse them with incorrect information, it creates insecurity for your donors. Then they will hesitate to help you out. It is always good to provide unique information and narration on your fundraising profile without bias. Don’t use two or more people’s data in a single profile. For example, creating a profile for “crowdfunding to help a below poverty line student get his/her higher education” should contain only that specific student’s bio, narration, details and bank account. It shouldn’t be someone else’s details, as it confuses donors.
3. Not Providing Value
In crowdfunding, it is your responsibility to provide value to the person who helps you. In other words, fundraising is a different kind of sales, where you sell your success or the benefit gained out of the donor’s fund. It is more important to discuss the value donor provided to you than the features of the fund received. Providing value to the donors has higher chances of increasing the perceived benefit you get from them. Donors will put more effort into contributing and also promote you to other potential donors.
4. Insufficient Technical Knowledge
In this era of computers and mobile phones, it is fundamental to know how to operate them. Lack of technical knowledge will lead to improper or poor interaction with donors. Poor technical handling directly affects efficient fundraising. Poor technical handling includes not having a net banking facility, not having a PayPal, Gpay or any other payment facility and not having a user-friendly communication portal like WhatsApp, Gmail and Facebook messenger.
5. Appreciation Disuse:
Not appreciating the time, effort and money a donor invests in you affects your fundraising results. Take some time to say “Thank You”, always convey your regards to them. Most of the fundraisers forget to appreciate their donors and express their gratitude. Fundraising is not all about doing campaigns, raising money and getting the most out of it. It is about the empathy that a donor shows to you and the gratitude you show in return.
5. Transparent Communication Misuse
Fundraisers not communicating properly with donors negatively impact the outcome. The entire aspect of crowdfunding relies completely on your communication skills. So it is important to take the donors through the entire process with efficient communication and also thank them at the end. Good communication skills work wonders in crowdfunding. Ketto acknowledges the use of communication skills in fundraising and also guides its users.
7. Glorifying the Merit
It is not just the narration of your story or the final thank-you note you send to your donor that creates value for a donor. Take them through the process, update them regularly and glorify the benefit that you obtained from the fund, it makes a positive impact on donors. In this way, you build a long-standing bond and build a community too.
This entire journey of fundraising, from being strangers to becoming supporters, relies on many factors. Good crowdfunding skills devoid of bad habits and mistakes can lead to miracles.
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