FundLatinos is a new crowdfunding site that brings the Latino community together to raise funds for life’s celebrations, challenges and needs. While individuals use the platform to fund personal causes, FundLatinos also works with nonprofits to fund organizational needs. As a charitable organization, it can be difficult to navigate the world of online fundraising Here are some tips on how to choose a platform, create your campaign, and make it successful:
Pick the Right Platform for Your Campaign
It is important to research the platform you will use for your crowdfunding efforts. Sometimes crowdfunding platforms can charge up to 15% of the total amount raised during a campaign. FundLatinos, as part of its commitment to the community, waives its fees for all charitable organizations. For nonprofits, who often struggle to have more than 50% of each dollar donated go towards their ultimate mission, this can make a huge difference. While FundLatinos will never charge fees to nonprofits, they’re also offering a “No-Fees Holiday Giving” promotion for individual projects until the end of the year.
Tell Your Story
Once you’ve selected the right platform for your crowdfunding campaign, it is time to create an inspired and compelling campaign and content strategy. Crowdfunding campaigns often work best when they present shorter term, attainable goals. Pick a specific cause that you need to fund within the next few months, rather than trying to fund your entire capital campaign over the course of a year. Once you have your cause, write a story that attracts prospective donors – tell them exactly what their funds will go towards and how each dollar will positively impact the organization. Then add visual, either a series of photos or a video. Stories that are relatable will draw more attention and interest. For example, FundLatinos has worked with Esperanza Immigration Legal Services, a nonprofit organization which assists with legal immigration needs in North Philadelphia, to create a campaign to help with the education and legal costs of undocumented immigrants.
Get the Word Out
With the assistance of social networks such as Facebook, Twitter, YouTube and Instagram, you can tell your story to a mass number of people in a short amount of time. Use social media consistently during the period of your campaign to spread your story. Have “friends and family” of the organization use their own social channels to share your campaign too. Never underestimate the social circles your organization has worked so hard to create. Include the campaign as part of an email blast to your stakeholders and be sure to ask them to share with their networks! You can even make it easy for them by pre-writing Facebook and Twitter content for them to post. They will thank you!
Update! Update! Update!
Maintain open communication lines with the members of your community and your donors. The FundLatinos platform allows you to write updates about your campaign. Announce large donations, number of donors, and news regarding how your specific project will benefit from the monies raised. Donors of your campaign would like to see their efforts come to life. Crowdfunding is a collaborative effort and it is key to keeping your supporters informed.
Celebrate Your Success
Lastly, when you achieve your campaign goal, celebrate and let your network know! Keep them informed of how they assisted you in reaching your goal and how it will help those in the community.
FundLatinos.com General Manager Andrew Vassallo identifies opportunities for innovative and disruptive new ventures at StartingFive. A partnership between several multi-time successful entrepreneurs, StartingFive conceived FundLatinos.com. Andrew is expert in transforming ideas into promising startups by providing all aspects of business building, including capital. His objective in co-founding Starting Five was to create a select number of innovative technology businesses that have the potential to impact industries and generate long term value. Immediately prior to launching Starting Five, Andrew was an associate at General Catalyst Partners, a venture capital firm that makes early-stage and transformational investments. His role was to focus on early and growth stage investing in the consumer space for the exceptional entrepreneurs the firm backed that were building innovative technology companies and market leading businesses. Andrew graduated magna cum laude from the Robins School of Business at the University of Richmond in Virginia.