How donation-based crowdfunding, or social crowdfunding, is taking over the charity world ?
Donation-based crowdfunding represents one billion dollar a year and is growing faster than the online shopping market.
The last few years represent an important turning point in the social crowdfunding market where nonprofit organizations seized this opportunity provided by internet to gather contributions from all over the world, but also to reach a larger number of people ready to give small sums of money.
By focusing on online donations, nonprofits are able to reach new audiences of small givers who support their charitable causes.
Various websites offer different types of crowdfunding to answer different needs, but some, like Weeboon.com, are specialized in social crowdfunding. Social crowdfunding, also known as donation-based crowdfunding, can be individual or associative.
Donation-based crowdfunding is a great opportunity for nonprofits to reach more people but also to fulfil some urgent needs. For example, nowadays nonprofits can rely on social crowdfunding to react quickly after a natural disaster or a terrorist attack.
Today, people who make donations are younger than five years ago which undeniably shows a greater interest from youngsters towards community issues and charity in general. Internet era and crowdfunding have definitely contributed to raise awareness of a younger crowd of givers.
Lastly, it exists an unquestionable opportunity for small nonprofit organizations to use social crowdfunding platforms to increase their visibility.