How Partnerships Can Benefit Crowdfunding Platforms and Fundraisers

Crowdfunding platforms are a remarkable concept for people from decently sized communities who want to make a difference. With only a brainstormed and planned project in hand, anyone with a social media presence can learn to raise funds in a limited time period. Anyone interested in campaigning for a cause they care deeply about can get started by reading up briefly on how crowdfunding works. In an informal industry such as this, the sky’s the limit when it comes to potential. How can a crowdfunding platform aid its fundraisers access the most number of donors, raise the most funds and make the biggest change they can? The trick is not only to spread the word, but to convince your audience that you’re truly staying true to their money’s worth and doing real work that matters to them. The power lies in networking and in partnerships.

Resource-Based Partnerships

There are two kinds of partnerships. One is resource-based, where a partnership may be with a company or a philanthropic donor that directly provides a benefit to a crowdfunding platform or a fundraiser. This may be in the form of an actual donation, a service such as web design, a matching gift and so on. For example, Impact Guru entered a partnership with Global Giving to provide tax benefits to donors from US, UK and India on their platform. In 2017, a generous donor (who chose to remain anonymous) made it possible to waive all services charges on fundraisers for a full month on Impact Guru.

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Publicity-Based Partnerships

The second type is publicity-based, where a brand or company creates more awareness, helping a campaigner access newer and wider networks of potential supporters. Such partnerships will not provide a direct monetary benefit to a crowdfunding platform or a fundraiser, but will definitely work wonders to improve their visibility, to broaden their reach and familiarize their brand with a bigger audience.

These outcomes help push the authenticity of the campaigners. Project Inspire was co-founded by the Singapore Committee of UN Women and Mastercard to inspire youth around the world to pool in their ideas on one crowdfunding platform to make an impact on women and girls in the Asia Pacific region. They chose Impact Guru as their crowdfunding platform.

How Campaigners Can Benefit

Campaigners who start a fundraiser can make the most of partnerships as well. NGOs can choose to tie-up with a crowdfunding platform for their upcoming projects, so that they can find donors, easily maintain a stable relationship with them and expand their network from one webpage without paying the heavy service charges that fundraising organizations ask for.

With the right utilization of a crowdfunding platform, NGOs can provide a viewer with full information on their project, all with a single scroll of a thumb. NGOs new to crowdfunding can read up on fundraising tips and tricks to raise funds successfully. Hospitals can also choose to partner with crowdfunding platforms to spread awareness among their patients about options that may help them afford the procedures, medicines, and other resources they need.

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