To get started, let us define crowdfunding for those who do not know. Crowdfunding is an alternative method of fundraising, and it is still a very new thing in India, with hardly a couple of dozen platforms operating in the industry. Crowdfunding is essentially online fundraising, with the person raising funds (the campaigner) sharing their story and explaining their needs, and large numbers of donors making contributions, relatively small contributions each, to help meet the campaigner’s fundraising goal amount.
It is easy to see why donors are important to campaigners. They are the ones who make a difference by donating funds and helping meet a fundraiser’s target. But from the crowdfunding platform’s point of view too, donors are the group of people from whom revenue is generated. Donors can do more than just making gifts of money. They can share campaigns and help spread word that there is someone in need who can be helped by a little contribution. For these reasons, retaining donors is very important for a campaigner and for a crowdfunding India platform.
Also, retaining donors is low-cost compared to acquiring new ones, both online and offline. It is in the interest of a campaigner to go the extra mile and do what it takes to make a donor come back again and again to give to their campaigns in the future as well. (This is particularly true of non profit campaigners, but also of individuals who are raising funds for, say, a recurrent healthcare issue). How a crowdfunding India campaigner interacts with their donor base is a strong determinant in ensuring crowdfunding success repeatedly.
Fortunately, it is not difficult at all to have a good relationship with your donors. There are two pillars of great, thriving relationships with donors: acknowledgement, and trust.
Acknowledge the role your donors have played in your fundraising success stories by simply thanking them. Sending personalized thank you notes is the best you can do. But social media shoutouts and electronic direct mail is not a bad idea either. Thank your donors for their contributions and for the goodwill they have shown for your crowdfunding India project.
Trust is also of paramount importance. When people give with philanthropic intent they do so because they trust the cause as well as the person representing the cause. You can encourage donor trust by being absolutely frank and transparent about your fund utilization plans, and sending on reports of how well your project is doing even after the target is met and the campaign closed.
Good donors are the best asset for any campaigner and platform. Show them love and respect, and it will come right back to you.