Crowdfunding was a venture that began as a funding solution for nonprofits. Today, the industry saves a large population of patients who may otherwise slip into poverty due to rising costs in healthcare. Over 50% of crowdfunded money in India goes to patients of cancer, organ failure, liver disease and other life-threatening disorders.
Though taking fundraising online has made the industry a highly convenient solution and a quick one too, it also means that there are more campaigners telling stories and competing for attention. Moreover, crowdfunders are still learning how to do it right. From the few years since medical crowdfunding India has been an actively sought option for funding, here are six things platforms like Impact Guru have learnt from the most successful campaigners!
- Engage with closest contacts first: Before they launch their fundraisers, most platforms always advise their campaigners to make sure their first score of donations come in right when their fundraisers are live. Strangers or even distant contacts tend to lose interest if they see that a campaign has been live for a week and hasn’t raised much money. Asking close friends and family to donate in the first few hours changes the way the rest of the fundraiser pans out.
- Ensure they create support fundraisers: Personal validation has always been a key element in most successful fundraisers in India, as campaigners themselves have reported on several occasions! On select crowdfunding India platforms like Impact Guru, you can encourage your donors to go the extra mile and create “support fundraisers”. Especially meant for family and friends, support fundraisers let donors share your fundraiser as their own to encourage their contacts to donate.
- Every donation must equal a share: Right from the start, make it a stern point to insist (politely) that every donor shares your fundraiser on their social media networks like Facebook, Twitter and Whatsapp. It takes only a click, and no donor will refuse. Platforms note that most stagnant fundraisers are ones that haven’t been shared enough on social media.
- Post updates regularly: A donation is not the end of an engagement with a donor. When someone makes a donation, they expect to be kept in the loop of your progress. Make sure to post updates on your fundraiser page about how the patient is doing, how far their treatment has progressed and so on. As donors see these updates, they’ll create an emotional connect and go out of their way naturally to find you more donors!
- Tell stories: This is the one, most important tip crowdfunding experts have suggested to nearly every crowdfunder. Stories help make a connect, which encourages a donation the best. Harish exhausted every penny of his savings to treat his daughter’s rare disorder and then turned to crowdfunding to raise money for his own life-threatening medical condition. Even if you do not have a story like Harish’s, little anecdotes also do the job!
- Understand how it works: Crowdfunding India can be trickier if you begin without knowing what it is and how it works. Platforms like Impact Guru have compassionate teams that are ready to help you around the clock. However, your donors will still approach you first. Your donors may be newer to crowdfunding than you are and will ask you questions. Make sure you have a good idea of how the donation process works so that if donors are stuck, you can help them out instantly. Call up the team at the platform you’ve chosen and ask them to brief you!