We can offer glowing client testimonials until the cows come home, but probably the single most effective piece of information for non-profits considering jumping into the crowdfunding arena is just this: it works.
A recent infographic by Craig “Craig’s List” Newmark’s organization makes it clear that, in terms of dollars, cents, and common sense, crowdfunding is an extremely effective, profitable, and growing field for nonprofits. Admittedly, the data used was gathered from Launcht’s competitors in the crowdfunding platform world, but if we’re all here to democratize access to capital, it makes good sense to democratize and highlight access to good information on this topic as well.
As Craig’s infographic highlights, organizations who use an outside company (ideally, of course, Launcht) to set up their crowdfunding platform raised an average of 1730% more than nonprofits who decided to set their crowdfunding site up in house. Given that difference, and realities of the non-profit world where mission and ideals often far outpace practicality and budget, the investment in crowdfunding professionals seems worth the upfront cost.
It is not just software that crowdfunding platforms offer their clients, but also the guidance, support, and relative expertise in this nascent, dynamic and enormously successful field. Having professional experience with what works and what is more challenging, crowdfunding platforms are able to work closely to merge that knowledge with the practical needs and idea-driven passions of their clients. The financial benefits of this collaborative approach seem to increasingly augment—if not outweigh—more traditional modes of nonprofit fundraising.
If your organization is interested in exploring crowdfunding, check out the statistics on the infographic, and read some of the testimonials from our nonprofit clients—clients who crowdfunded everything from building schools in Africa to set up Skype-support programs for adult caregivers—and decide if this brave new world is for you. We hope it is.