What is Crowdfunding?

Crowdfunding is defined as the practice of funding a project, venture, or event by raising a small amount of money from a large group of people.

 

When it comes to dream ideas like a grand retirement party, going back to school, launching a music career, or helping those less fortunate, it might be more apt to call it ‘friend-funding!’

Most of the money you raise will be from people you know and, especially for a personal cause, people who are inspired by your dream.

Crowdfunding’s Popularity

While crowdfunding via internet websites has gained popularity for paying medical bills and fundraising for nonprofits, more and more people are turning to it for more personal ventures. This can be a very smart move for you to make too!

Just look at the data showing crowdfunding’s explosion in popularity from 2014 to 2019:

  • 682.6 crowdfunding campaigns launched
  • 32.5 billion individual donations
  • $10.7 Billion dollars pledged in donations!

Crowdfunding has emerged as a worldwide phenomenon! While dozens of platforms are available to join, only one focuses on inspiring, promoting and nurturing our users’ goals so dreams become a reality!

Crowdfunding’s Advantages

Crowdfunding, using the power of the Internet, eliminates the traditional obstacles that often accompany fundraising. Here are some of the main advantages of crowdfunding in comparison to other long-standing methods.

Crowdfunding is Better than Grant Writing Because:

  • There’s no lengthy, time-consuming application process to slog through
  • Donor responses are immediate; no waiting for months to find out you weren’t selected!

Crowdfunding is Better than Phone Banking Because:

  • It’s less intrusive to potential donors. They can explore your campaign on their time – with no interruptions in the middle of dinner!

Crowdfunding is Better than Fundraising Events Because:

  • No time is wasted planning an event, only to have it canceled due to bad weather or venue issues. Once you plan and post your campaign online, it’s there – rain or shine!

Still not convinced crowdfunding is an effective method for fundraising? Consider these additional advantages:

  • Signup is free (using dreamOway).
  • Receive your funds as soon as they’re donated.
  • Reach a broader audience in just a few clicks by harnessing the power of social media sharing.
  • No delay in communication – send updates immediately to your followers to keep them motivated and connected to your campaign.
  • Reach people outside of your network using the large communities crowdfunding platforms foster.

Why is Crowdfunding on dreamOway Different?

While sites like GoFundMe have become popular for crowdfunding medical expenses and disaster relief, dreamOway is more personal – focused on helping turn dreams into reality and eliminating the “what if” regrets in life.

(dreamOway is currently available in app stores in the United States and Canada)

Download the dreamOway App Today

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