Many people new to the world of crowdfunding India confuse the terms crowdfunding and peer-to-peer fundraising. While they’re very similar, they’re not synonymous. With crowdfunding, an individual or and individual organization is raising funds online for themselves. However, in peer-to-peer fundraising (which is a type of crowdfunding), you actually get help from your peers, to further your fundraising efforts. This article will explore how creative crowdfunding India projects can benefit from peer-to-peer fundraising.
Expand your network through your peers
The biggest advantage of peer to peer fundraising is that you can get so much more than just donations from your supporters. In this type of fundraising you could potentially double and triple your network by reaching out to your supporters, and asking them to further your cause by reaching out to their inner circles.
Share ideas with people and test the market
With creative projects, sharing ideas and testing the market are extremely crucial. Through peer to peer fundraising, you’re able to do this much better with a lot more people involved. One is getting valuable opinions on people interests, and seeing how they react to your project. And Second is sharing ideas, meeting, communicating with people in your field who may help you with your project and even help with effective fundraising ideas.
The most obvious benefit is that you’re more likely to collect larger donations for the simple reason that you’re able to reach out to many networks at the same time. You may even cross your fundraising goal amount, and raise more than you hoped for. Many crowdfunding platforms in India allow you to keep the money raised, even if it crosses your initial target amount. Larger contributions can be used for improving your current project, as well as future projects.
Spread the word about your project
You may already be aware that even great crowdfunding campaigns can sometimes fail. The primary reason for it is that they are unable to gain enough traction and create enough of a buzz around their project. In a peer to peer system, you’ll actually have your supporters promoting your campaign and helping you put the word out. More promotions equals more contributions for your creative project.
If you’re about to kickstart a creative project on a crowdfunding website, you might want to consider peer to peer fundraising for all the added benefits, to maximize your efforts. Get started today!