How to make money from crowdfunding

Crowdfunding is beginning to take root in schools as part of the drive to boost the bottom line

Tes Reporter

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Raising lots of small sums from various parties is growing in popularity. No one is required to invest much, but together the sum raised can buy a specific item for your school. Crowdfunding has quickly become a great way to fundraise, and schools shouldn’t be left behind. Since you have a ready-made network of supporters and stakeholders, you are in a prime position to benefit.

How do you choose a project?

  • It should have a community element – ie, something that your community can use.
  • Explain how the project will work and outline what it will deliver.
  • Set an achievable target, perhaps based on previous fundraising campaigns.

What next?

  • It is claimed that the average person has nearly 170 contacts on social media, so make your pitch in a way that will encourage your targets to share details.

When should you launch?

  • Avoid exam times or holiday seasons.
  • A one-month campaign achieves the best results, so find a suitable window in the school timetable of that length.
  • Preplan a schedule leading up to the campaign itself.
  • Budget for delayed payments if using methods such as Stripe, and for credit card deductions on payments.

    Promoting your project

  • What will make people want to share your campaign? How do you engage their interest? An eye-catching headline or short video can work well. According to The Crowdfunding Handbook, campaigns using videos achieve a 147 per cent return.
  • Test the campaign to a select few for feedback, then tweak before sending out to your list.
  • On your project page, you should outline how the money will spent so that potential donors feel they can trust you. In addition, indicate how you would spend surplus funds or – if the campaign is not successful – how you would spend the money you so raise.
  • Incentives to potential donors

  • You could offer a variety of rewards as a thank you, from public acknowledgement to free tickets to a school event or – if a donation is very large – naming rights to the project.
  • Whatever the level of support, it is important to keep your donors informed of your progress as they may be willing to support future projects, too.

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