What projects are best suited for crowdfunding?
Causes best suited for a crowdfunding project are typically very specific in need (funding specific research, a study abroad trip, etc...), with a defined deadline, and goal. The fundraising cause should easily lend itself to online promotion--email and social media, primarily. Fundraisers should also have a clear idea of who they’re reaching out to for support of their campaign.
Crowdfunding projects that last 30 days or less are recommended, unless a longer-term strategy is in place.
When deciding on a goal amount for crowdfunding, fundraisers should consider:
- The potential giving capacity of their audience
- The number of people they plan to ask for support
- The projected interest in their fundraising cause
- The campaign timeline
Here are some general goal levels based on average outreach audience groups:
- Family and friends only: $300-1,000
- A larger group of supporters/alumni: Up to $10,000
- A broader audience with a high capacity for giving, a strategy consult is recommended. Contact Robyn White at email@example.com.
Promoting your crowdfunding page
Share your page through email and social media, reaching out to friends, family, coworkers, and anyone else in your network, and ask them to support your cause.
When you ask for support, talk about:
- The cause you’re fundraising for
- Why the cause is important to you
- Mention the impact that donations can have (for example, help with medical research or care, fund a scholarship, or help fund a U project)
Here is an example of an email asking for support:
Subject line: Support [INSERT YOUR CAUSE]
Hi, family and friends.
I’m running in Goldy’s Run on the U of M campus in April. The race benefits the amazing U of M Masonic Children's Hospital, which provides a special level of care for kids not available elsewhere in the state.
As part of my race activities, I’m fundraising for the hospital--you can give through my page here: ADD YOUR CUSTOM LINK TO YOUR CROWDFUNDING PAGE.
I'd appreciate any support you can give! Thanks for supporting me in the run and such an important cause.
- U supporter
An example of a Facebook or Twitter message asking for support and linking to a U crowdfunding page: