The concept of crowdfunding is a fast growing one. It is slowly and steadily overtaking the more traditional ways of funding for social enterprises. While money is the most important aspect of this concept, it is not the be-all and end-all of it. There are manifold advantages to using an online platform to launch your social enterprise. With technology at our fingertips, acquiring targeted reach, visibility, and collaborations is now easier than ever.
So here are 5 reasons why crowdfunding might just be the perfect way for you to launch your social enterprise:
1) More efficient than traditional ways of raising capital
As opposed to the traditional method of personally making pitches to donors, crowdfunding for social enterprises on an online portal is far more efficient in getting your message out to lots of people, and to the right audience. Besides that, the cost of launching a crowdfunding campaign is little to nothing.
2) Great platform for a powerful story
It is a great platform to showcase the authenticity of your initiative. Through a powerful campaign, you can gain the confidence of donors, and show them how much of a difference their contribution can make to your efforts in creating an innovative solution for the society.
3) An efficient marketing tool
It is a great way to analyze and gauge the reactions of people towards your cause, through which you can partially determine the success of your campaign. All you need is the perfect online portal for the project you would like to raise funds for. Even with a few supporters in the beginning, you will find it remarkably easy to create a strong database of like-minded individuals. That said, effective marketing will even facilitate collaborations.
4) Generates new ideas and feedback
When you run your campaign on various social media platforms, you tap into many different audiences. Each type of audience will have a different take on the concept you are putting out. As long as you can engage people and start conversations, ideas from different people will keep flowing in. Aside from that, it is a great way to get feedback and improvise on the shortcomings of your campaign.
5) Polishes your business and management skills
Running a full-fledged campaign involves analyzing, strategizing, marketing and PR, having impactful communications, and employing quick decision-making abilities. Not only that, you will find yourself juggling several tasks at the same time, which will polish your time management skills as well.
Every great idea requires a secure source of funding. To put it simply, crowdfunding can bring out the creative potential in every initiative. So, if you are raising funds for your venture, these benefits are worth considering.
Interested in participating in the Social Enterprise Challenge, 2017 and taking your venture to the next level through crowdfunding? SEC 2017 has an array of attractions and cash grants for social entrepreneurs.
Start a fundraiser to power up your social enterprise and maximize impact now!