Is Facebook The Most Important Tool for Successful Crowdfunding

Crowdfunding is most successful if charities promote campaigns heavily through Facebook and other social media, try to raise small amounts, and go public with money already committed, an audience of fundraisers heard last week.

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Eleanor Harrison, chief executive of GlobalGiving, a charity crowdfunding platform, said that use of Facebook was the single most important tool for success in crowdfunding.

Crowdfunding usually involves charities asking for donations for a specific project. Donors make commitments but must only go ahead with their donation if the project hits a target.

She said that if a charity had “1,000 friends on Facebook,” then a crowdfunding campaign would be as much as 40 per cent more likely to succeed.

Mark Hodgson, chief commercial officer at donations platform JustGiving, also said that Facebook was key to success.

He said that “42 per cent of JustGiving’s current content is driven through Facebook,” but agreed with Harrison that charities should not ignore other social media channels.

“Your voice will be amplified by their technology,” he said.

“The more people you can reach with your message, the more likely it is that your message will resonate with someone. You have to use all of the tools available to you.”

Source: Civil Society Fundraising

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