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In his latest article via CNN, Wayne Elsey, CEO of Wayne Elsey Enterprises, explains to the do’s and don’ts of running your first crowdfunding campaign as a nonprofit organization. Wayne Elsey Enterprises is a company that works with social enterprise organizations, nonprofits and companies on strategy, branding, development and education.

Crowdfunding: How Your Nonprofit Can Get Started

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By Wayne Elsey| 03/24/15 | CNN

Nonprofit Tech for Good reported last year that nonprofits that use crowdfunding raise $9,237 per campaign. That’s a very good amount of money coming from social media platforms. If your organization is interested in getting into the crowdfunding space to raise money, here are some tips and strategies to keep in mind: Think of crowdfunding as a microfundraiser. Therefore, the best campaigns that succeed are the ones that are for a special project, initiative or activity, where you have a finite period of time to raise money. Crowdfunding should not be used to raise general operating dollars as a matter of practice. A good rule of thumb to use once you have embarked on a crowdfunding campaign is to seek to raise the first 30% within the first 48 hours.

mobilecause-outlookMore and more nonprofits are crowdfunding these days through the networks of donors, volunteers and staff. If used correctly it can be very advantageous in raising a lot of money for your cause.

Crowdfunding sounds easy but there is work involved to achieve your goal.

The story of the campaign has to be communicated clearly so potential donors feel a connection. Donors need to see the impact their donations will have. This will also entice those donors to tell others about the cause, increasing your base. The most successful campaigns are ones for 1) a special project, initiative or activity, 2) that use video to promote, and 3) have a finite period of time to raise money. Additionally, mobile phones have unlocked the potential of crowdfunding as campaign setup time has been cut from hours to minutes.

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