A recent report by World Bank estimates that online fundraising in Africa will be worth 2.5 billion dollars by 2025. Currently, Africa’s online fundraising’s worth is at an annual average of 24.16 million dollars. What does this depict?
These numbers paint a clear picture of the value online fundraising has and will have in the future. With many African organizations’ turning to online fundraising as an alternative source of income, are you as an organization prepared for the future? As we question and work on our preparedness, here are some affirmations why online fundraising is your organization’s ideal choice.
Grants access to a more extensive network
“If it were not for online fundraising, I would not have reached the 3,000 plus people who have donated to our fundraiser this far.” Francis Amonde of Cup of Uji.
The increasing popularity and use of social media platforms has come with the advantage of greater local and international reach. By sharing online, your organization can gain access to a new pool of donors; you wouldn’t have possibly reached through traditional fundraising options.
Recognizing this, M-Changa provides fundraisers with the options of sharing their fundraisers directly to Facebook, Twitter and WhatsApp; the three most commonly used social platforms.
Everyone is included!
Do you know that with online fundraising, one can donate as little as 1 shilling to your fundraiser? Before you ask ‘what can 1 or 10 shillings can do’, think of 100 people giving 10 shilling each. That’s 1000 shillings!
From the individual able to give 10 shillings via mobile money to the individual willing to give 40,000 shillings via electronic means, online fundraising gives your organizations a chance to include everyone in the solution!
Imagine having to manually write down or key in up to 500 donation transactions every single week for the duration of your fundraising endeavors. I know! It is as tiresome as it sounds.
With online fundraising, technology does the job for you! You are also given the options of downloading your statementsin PDF or as a Google Sheet. The statements available to you are; donation, withdrawal and expense statements.
Forging a long-lasting relationship with your donors
When a donor gives to your fundraiser, they automatically become part of the solution. By becoming part of the solution, your needs, therefore, matter to them.
With access to a donor database and the option for bulk SMS share, your organization can ensure post-fundraising communication with its donors; for more than just financial support.
One of online fundraising’s most prominent value is security. Security is achieved by the mandatory provision of supporting documents and the addition of treasurers. Treasurers aid in enhancing accountability.
When one of the organization’s officials initiates a withdrawal, three other officials will be prompted to approve or disapprove the withdrawal. This process helps ensure that all withdrawals are consensual and approved by all significant authorities.
Ability to leverage your financial networks
Different from loan repayment interest charges and long grant application processes, online fundraising offers organizations a chance to raise interest-free and on-time funds. With online fundraising, what you need to do is tell a good and appealing story demonstrating your need and plans. With this, your donors will be moved to support your activities.
While online fundraising frees you from the burden of high loan interests and the uncertainty of grant awarding processes, it still requires work. Click HERE to read more on how best your organization can plan for the fundraising process.
Coupled with the other benefits such as diverse payment options, are you now ready to get into sustainable fundraising for your organization? If yes, you are now ready to plan your fundraising journey! To start your own fundraiser, click on this linkor dial *483*57# .
M-Changa is a Kenyan online and mobile fundraising platform that was launched in 2012 to make fundraising more convenient, more efficient and more secure than the traditional Harambee. To date, over 41,933 fundraisers have raised millions of dollars from over 730,656 contributors.