Social media usage has gained immense traction over the past few decades and even more so by the day. No wonder 84% of CEOs use it to make financial decisions. Social media can get you access to millions, potentially billions of people on a budget so small, it would otherwise be laughed at.
According to conventional wisdom, fundraising for businesses on social media was once believed as a ‘gimmick’ that might pay off. All you had to do was start an account, hurriedly scatter a few posts around your social, sit back and watch investors come to you. For your fundraising idea to work on social media though, this simply won’t cut it. Startup fundraising on social media forces you to study a platform by understanding the people who are on it, identifying what they want, and how you convey your message to them when trying to raise funds. Once you understand that there is no one ‘best fundraising site’ that would solely help you raise funds, but multiple ones, you start to come closer to your goals. This article will help you figure out the best ways to tackle challenges while fundraising on social media as well as help you decide the fundraising idea that works best for you.
Social Media Fundraising At Large
- Know The Platform You’re On
Because LinkedIn is different from Facebook, and Instagram from Twitter, you can’t have a one-size-fits-all strategy. What do your target investors mainly use? How do they see your post? What’s a way to generate a positive reaction? Brainstorming these questions is the stepping stone to your startup fundraising plans.
- Don’t Overdo It
Rather than picking a bunch of networks that don’t work, narrow them down into a few good ones that actually help you raise money. For most, this would be LinkedIn.
- Don’t Go About Spending a Bunch of Money
A lot of sites offer premium features that seem like it’s the only thing you need to connect with the right people at first but end up being a waste of time and money. Don’t fall victim to their advertisements unless you’re absolutely confident of the result.
- Be Real
Don’t promote your image as it should be, but as is. Most investors can spot the fakes from a mile away. Be genuine.
When things aren’t going as you thought they would have on the quest to get funding via social media, don’t call it a day. Restrategize and figure out what’s the missing piece.
Social Media: Breaking Down the Basics
Getting funding or grants via social media requires you to be equipped with the technical know-how. Here are some tools that can help you raise money for your startup or get grants through social media.
- Strong social media presence: One has to build a strong presence on social media. This means creating profiles on all major social media platforms and habitually posting content that is germane to your target investors. Simply posting random things won’t cut it, even on the best fundraising sites.
- Identify your target audience: Know your target audience. Know the people who are most likely to support your cause and moderate your content accordingly on your target online fundraising platforms.
- What’s your story? Your startup’s story is what captures the attention of potential donors. The posts your share on online fundraising platforms should include your narrative namely; your mission, ethics, and vision.
- Visuals: Visual content is more engaging and fun than written-based content. Use photos, videos, and infographics to engage your audience better. Remember fundraising for businesses on social media is emotional as much as it is logical.
- Incentives: Offer incentives to your followers to get donations to your cause. This helps sweeten the deal. This could be something as simple as a small gift or token offered on GoFundMe for your nonprofit.
- Crowdfunding platforms: There are numerous crowdfunding platforms that you can use to raise money whether it be crowdfunding for small businesses or using GoFundMe for nonprofits. Crowdfunding for small businesses helps you receive funding from a wide audience.
- Use social media advertising: The best fundraisers are the ones that most people have already heard about before. Use ads to promote your campaign and encourage people to donate.
- Engage with your followers: To build on the last point, the best fundraisers often engage with followers prior on social media. Reply to comments and messages, and acknowledge people for their support.
Some of the Best Fundraising Sites for Individuals and Nonprofits:
- Facebook Fundraising.
Fundraising can be hard. We know. This is why at Marquee Equity we provide tailor-made solutions to get your business off the ground. We combine your spirit to do good, and our resources to make a formidable combination. We instantly provide you with direct access to 32,000+ VCs, PEs, Family Offices and Angels to scale your business, help with data-driven analysis to bolster the process, and supply live reports on investor activity for your deal. Call +1-213-600-7272 to build the future with us.
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Venture Capital Funding: What You Need to Know
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