When it comes to personal crowdfunding – where you’re crowdfunding for a personal need – the failure rate is abysmally high. When a third party crowdfunds on behalf of the person in need AND the story is compelling, the chances of success spike. Here’s a perfect example. The only possible exception is crowdfunding for college and only if you do it in a particular way,
The simple fact is, personal appeals for money are overdone. Everybody is burned out from medical bill bailouts, rebuilding after fires, floods, etc and my personal “favorite” helping to pay for the fairy tale wedding and honeymoon are falling on deaf ears. Nobody cares because there is nothing in it for them. Then there’s the very high probability of the personal crowdfunding appeal being a scam. Nobody wants to deal with all that crap.
Crowdfunding for college is different. That’s because the college student can leverage their future success against the donation such that the backer gets a perk. Say you you’re an accounting student. Or a medical student. Or attending law school. Once you’re out of school you are on your way to a viable career. You can offer your backers your future services in exchange for them backing your crowdfunding campaign today.
Pledge $500 and you get two legal consultations with me.
Pledge $5,000 and I’ll help you set up a corporation and formulate your business plan.
Pledge $25,000 for my medical school tuition and I will be your on-call personal medical advisor for the rest of your life.
This is a compelling offer for the public to jump on and is modeled after conventional crowdfunding in the sense of quid pro quo. We have a budget-friendly crowdfunding promotion program that is cost-effective and feasible in your success strategy.
Unless your major is Latin or philosophy or something goofy like that you can easily formulate crowdfunding for college perks that will be difficult to say no to thanks to the value proposition you bring to the conversation.