Getting people to spend money without getting anything in return is never an easy task. On the other hand, online fundraising and the speed at which it is growing has proven quite the opposite. At Impact Guru, we’ve had so many people donate for personal and non-personal causes that have nothing to do with it. This shows that compassion, empathy and community are at the heart of all philanthropic endeavors.
However, it is important to note that charity is no longer being done the way it used to be. You’ll see fewer philanthropists pay out big checks for a single cause. With technology in the picture, things are much more nuanced now – and it’s critical that nonprofits and all other crowdfunding campaigners in India align with the current generation’s mindset and their relationship with the cause.
In this article, we would like to discuss some of the top reasons why people donate so that you can apply certain strategies to your crowdfunding campaign in India to attract donors to your initiative.
The public interest
As we discussed earlier, people today have a different relationship with social well-being. While they may not be involved in writing big checks, they certainly want to be involved in activities that will benefit society in the long run. For example, young people today are much more aware of the use of plastic bags, and many of them are advocating to stop using them. This indicates that they find it important to be part of the bigger picture in order to do good socially. Nonprofit organizations need to employ such a thought process to get people interested in their cause.
Competitions and Incentives
Nonprofits should encourage an environment of competition to motivate millennials to donate. Tangible incentives such as free samples, merchandise, event invitations, etc. are useful motivators. Another great takeaway for a millennial would be recognized for their philanthropy via a shout out on social media.
People always want to find a way to reduce the tax burden – and charitable giving is the noblest way to do it. Most NGOs and crowdfunding platforms offer their donors the opportunity to take advantage of a Section 80G tax exemption certificate when they donate to a verified NGO. Whether they donate to a medical cause, for education, for the environment or something else, it is an incentive for them to combine charity with tax savings.
Corporate giving influence
Employees are strongly influenced by the giving patterns of their colleagues and colleagues. According to a 2015 Millennial Impact report, 46% would be more likely to make a donation if a colleague did, and 27% would if a senior in the organization suggested it. In fact, 11% chose to have donations removed from their pay stubs themselves. And 30% has been seen to donate on online platforms like Impact Guru.
In a mission to encourage crowdfunding for financial sustainability, we hope this article helps you understand charities today.