How to Raise Money in Five Easy Steps
If you’re wondering how to raise money quickly, consider crowdfunding as your solution. It’s an easy way to support a worthy cause and removes a lot of the traditional barriers associated with asking for support.
If you’ve never raised funds online before, the process may seem overwhelming. However, if you follow these five simple steps you’ll have everything you need to start an online fundraiser for yourself, a loved one, or your favourite cause.
Why do people raise money online?
Due to the digital shift we are experiencing as a society and the rise of fundraising platforms, online fundraising has increased significantly in recent years.
There are a variety of reasons why people choose to raise money online. Here are some of the most popular:
- Support a particular charity: People often raise money for a charity close to their heart. Whether it’s for World Vision Canada or the Canadian Cancer Society, they can raise large quantities of small donations by fundraising online.
- Help a friend or family member: Supporting someone’s nearest and dearest to help cover things like medical expenses, therapy, or funeral costs.
- Support a cause: Someone might not have a particular charity in mind but would like to raise money for a certain cause. For example, disaster relief, education, climate change, or animal welfare.
- Taking part in an event or challenge: Whether someone is running a marathon or shaving their hair, they can maximize the amount of money they raise by asking for donations online.
- Random acts of kindness: People may also raise money for strangers in acts of kindness. For example, this could be for someone in the local community who is going through a tough time.
What are the benefits of raising money online?
Raising money online ticks all of the right boxes no matter the reason you want to boost the funds you receive.
Once you’ve learnt how to raise money online, you can enjoy the following benefits by setting up a fundraising page:
- Easy to use: Setting up a fundraiser can be done in just a few simple clicks. Once it’s live, the best online fundraising platforms are easy to navigate and donations can be made in a matter of minutes.
- More accessible: Online fundraising is a lot more convenient than traditional in-person methods. People can donate from anywhere.
- Cost-effective: It’s much cheaper than other fundraising methods, as setting up an online fundraiser is completely free and can be done from the comfort of your own home.
- Increased reach: By raising money online, you can reach a large network of potential donors all around the world—your fundraiser could go viral! You can also easily share your fundraising page across your social media networks.
- Better communication with donors: Regularly post updates on your page and keep donors in the loop. People are more likely to donate to a cause if they feel a personal connection to it.
- Be more descriptive: A fundraising page allows you to include more information about your chosen cause, so you can tell your personal story better.
How to raise money in five easy steps
From putting together a fundraising plan to receiving donations, it’s important you understand what’s required to make your fundraiser a success and raise lots of money.
Here, we share our five-step guide on how to raise money online.
1. Define a goal
Start by determining how much money you need to raise—not just for yourself, but for your potential donors. People are more likely to give money to a cause that is clearly defined.
For example, if you’re raising money for a medical procedure, don’t list just the big-ticket price of the procedure itself, but also related expenses such as lost income, rehab, medications, and medical devices.
2. Choose an online fundraising platform
When picking a platform you should look for:
- Fees (both platform fees and payment processing fees)
- Ease of use and website design
- Customer support options
- When you get access to your funds
- Fundraiser sharing capabilities
We’re a little biased, but when it comes to crowdfunding platforms, GoFundMe is likely your best choice. Unlike other sites, we have a 0% platform fee, and you can start withdrawing funds as soon as you start receiving donations.
3. Tell your story honestly
When writing your fundraising story, try to answer basic questions any reader would like:
- Who
- What
- Where
- When
- Why
- How
What will the funds be used for? How are you connected to the cause? How will the donations raised aid you or others? When it comes to fundraising, the why is particularly important—why does the recipient need this donation?
Write a captivating title to match your story
Come up with a strong fundraiser title after you’ve written your story. It will help you summarize your story in one standout phrase. It’s hard to overstate how important the title is. As with a book or movie, it can draw people in or turn them away (before they know anything else).
4. Create a strategy for sharing
Once you’ve posted your fundraiser, get feedback on it from trusted friends and family. Use any good suggestions to refine your story, images, etc. Then ask your inner circle for donations. Why? If potential donors see that some funds have already been raised, people are more likely to donate.
Once your inner circle has donated, share your fundraiser with everyone everywhere.
Sharing on social media
The more visible your fundraiser is, the more donations you’ll receive. If you create a Facebook page for your fundraiser, consider paying to boost posts if the costs will be outweighed by donations. If you want to use email, try using one of our email fundraising templates to help simplify the process.
Sharing without social media
While social media is a great way to connect potential donors with your fundraiser, there are other ways to share. If you want to know how to raise money online without using social media, consider trying one of our ways to share your fundraiser offline, like creating flyers for bulletin boards or learning how to get featured in the local media.
5. Show your donor’s appreciation
When people make a donation, think of it as the beginning of them caring about the cause, not the end. When seen this way, the thank-you is clearly the beginning of an ongoing relationship with the donor, a kind of gateway to the remaining part of the story.
Simple, personalized thank-you letters are an easy way to show your appreciation and strengthen relationships with donors. For more ideas, check out some affordable ways to thank donors.
Free fundraising resources
For those wondering how to raise money on GoFundMe, look no further. We offer a wide range of resources to help you double your donations. For more ways to raise money through crowdfunding, check out our fundraising tips, fundraising ideas, and many other guides on the GoFundMe blog.
Putting it all together
To raise money is to ask for help—but when done right, it can become less of a plea and more of a transformative experience for everyone involved. The beauty of crowdfunding is the act of people coming together to reach a common goal.
Now that you know how to raise money online, start your fundraiser today.