Financial Advisory Blog

Finding Donors While You Crowdfund: Facebook Could Be Your Solution

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In the recent past, we’ve seen stores of all kinds, whether they’re about clothing, electronics or books, blossom on Facebook. Why should it be any different with giving? The 2017 report on trends in giving around the world tells us enough. More people donate to a charity or nonprofit on an online donation platform than anywhere else, and most of them find nonprofits, fundraising campaigns and stories that move them on social media. What sealed the deal was one statistic that stood out: 60% of donations in India and around the world to charitable causes around the world through social media are thanks to Facebook.

The network proves to be one of the most interactive and appealing spaces to tell stories and encourage giving. Experts have noted that Facebook users tend to like the page of a product they see (in this case, when it’s an ad) and follow its updates for a period of time before they choose to buy the product, but don’t see users of other social media responding so well. The results of this facility is unique to Facebook’s platform; Twitter, Instagram and YouTube see much lower positive response from users. This makes the network a gold mind for crowdfunding campaigners.

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Here’s a few tips on promoting your campaign organically on Facebook:

  1. If your product or service is new, create a page a few months before you turn to crowdfunding so that you grow an audience to start reaching out to. This is when you focus on growing your fanbase and spreading the word. This doesn’t apply to social or medical crowdfunding.
  2. When it comes to paid advertising, Facebook is probably the most effective network in helping you find the perfect target audience. Keep in mind that better quality ads reach a larger audience for a lower price.
  3. Use hashtags smartly. Pick one that is relevant to your campaign and use another one or two that are trending.
  4. Don’t ignore page insights. You can look at how well each post is doing based on the likes it receives, reach and its engagement (comments and shares). See what’s working for you and what isn’t.
  5. If you’re raising funds for a personal cause and not on a page, make sure to reach out personally to individuals in your network, explaining your goals to them. If they respond well and contribute to your campaign, ask them to share it their network with a confirmation that they had donated. Personal validation works wonders.
  6. Post updates as frequently as you see fit. Make sure your donors are in the know about how your campaign is doing. Posting exciting updates like “34% in 5 days! Thanks for the support guys, but we still have a long way to go. Fingers crossed!” will help attract new donors as well.

While Facebook plays a large role in your crowdfunding initiative, don’t ignore other social media. Make sure to cook up campaigns for Twitter and Instagram as well. Many users on these platforms could be your future donors. Don’t lose out on the opportunity. Happy Crowdfunding!

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