Social Fund Raising
Thursday, November 5th, 2009The topic of fund raising came up in a meeting yesterday, and when I got home and was trolling through my Google reader, I came across KickStarter, a Brooklyn based site that allows users to pitch in to fund creative projects – artwork, design, animation, music, and more. Donors receive updates throughout the process and can track the project as it travels from concept to reality.
I love that the concept of social networks and fundraising has the ability to translate beyond the bounds of charities and non-profits (which are obviously important), and help foster creativity and innovation and other under-funded pursuits.
The social web allows entrepreneurs, non-profits and ambitious individuals (often-times students) greater access to a wide range of potential donors. We’ve seen sits like Kiva take off in recent years – allowing donors to provide micro-loans to fund small businesses in developing countries. Closer to home, donors can help a student pay off their loans or help a friend save money for a trip.
Individuals, like Drew, have created movements through the use of sites like Twitter (just search for #blamedrewscancer), and major corporations have backed similar projects- equating mentions (awareness raising) to matched funds (#beatcancer is another).
One of my favorite examples is American Express’s Members Project, which allowed members to submit charities and projects needing funds, and vote on the most worthy causes. American Express donated $1 million dollars to the cause with the most votes. This concept has sparked others, such Target’s Bullseye Gives program, hosted through Facebook.
All of these opportunities- community based, often event-driven- succeed because they put faces to issues. Through these social platforms, donors can track progress, follow the people they are helping, feel ownership though voting and promotions, and ultimately feel connected enough to continue the cycle of giving.
